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News about Mortgages:
Bush signs off on commemorative civil rights coin - Boston GlobeWASHINGTON— President George W. Bush has signed legislation to mint a commemorative silver dollar marking the 50th anniversary of the Civil Rights Act. Sponsors of the measure include President-elect Barack Obama, and Rep. John Lewis, a veteran of ...
Foreclosure averted for girls who survived Norton shootings - Boston GlobeTwo teenage girls who were shot in the head and left for dead last year faced possible eviction from the house their family is renting, but the threat lifted this afternoon when an auction of the house was postponed. Danielle and Brittany Cann have ...
Hedge fund Greenwich sues Countrywide over mortgage accord - Los Angeles TimesCountrywide Financial Corp., the lender bought by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims that an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund said investors ...
Investor Sues to Block Mortgage Modifications - BusinessWeekBy Mara Der Hovanesian The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging that the ...
Countrywide Sued by Fund Over $8.4 Billion Loan Deal (Update2) - BloombergDec. 1 (Bloomberg) -- Countrywide Financial Corp. , the home lender acquired by Bank of America Corp. , was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The ...
Murder victim’s kin spared foreclosure - EnterpriseTeenagers Danielle and Brittany Cann, who survived being shot in the head by their mother’s boyfriend in Norton 16 months ago, were spared the foreclosure of their family’s home at 574 Foundry St. this afternoon. Commonwealth Auction Associates ...
Countrywide Sued by Fund Over $8.4 Billion Loan Deal - Daily Business Reviewountrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund claims ...
UPDATE: Investors Sue Countrywide Over Modification Plans - CNN MoneyNEW YORK -(Dow Jones)- Two investors in mortgage-backed securities sued Bank of America Corp.'s (BAC) Countrywide Financial Corp. on Monday over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys ...
Lynda Ann Stowell - Taunton GazetteLynda Ann Stowell, 53, of County Street, Taunton, Massachusetts; a native of Mansfield, Massachusetts; died unexpectedly on Friday, November 28, 2008 shortly after her arrival to the Morton Hospital and Medical Center in Taunton. Born in Boston ...
Class Action Demands Countrywide Repay Hedge Funds for Losses - Law.comA New York litigation boutique filed a class action suit Monday against Countrywide Financial Corp. on behalf of investors in 374 securitization trusts that suffered losses due to Countrywide's $8.4 billion settlement with 15 states' attorneys ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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