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News about Mortgages:
UAE starts procedures to merge two leading mortgage lenders - Xinhua News AgencyABU DHABI, Nov. 22 (Xinhua) -- The United Arab Emirates (UAE) announced on Saturday that its finance ministry has started the official procedures to merge the country's two leading mortgage lenders, local Emirates News Agency reported. The mortgage ...
Meltdown 101: What is mark to market accounting? - Associated PressNEW YORK (AP) -- In all the finger-pointing about the credit crisis, there's one unusual suspect: an accounting standard. Critics say the standard called "mark to market," or "fair value," is one cause of the nation's financial woes. Others contend ...
Get Seeking Alpha Free Stock Alerts by Email! - Seekingalpha.comBank trio becomes duo. Wells Fargo ( WFC ) will become the largest U.S. bank by branches with its bid for Wachovia ( WB ), after Citigroup ( C ) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's ...
Wall Street credit rating firms earned millions in fees. Does this ... - San Francisco ExaminerIf you want to know what happened to cause the mega financial crisis of 2008 you can’t do much better than to watch the Public Broadcasting System’s TV program of November 21, Credit and Credibility. If you missed the program, you can watch the ...
Federal regulators shut 2 California thrifts - AZCentral.comWASHINGTON - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport ...
Dubai property lenders merge - Straits TimesDUBAI - AMLAK Finance and Tamweel, two Dubai-based property finance groups with total assets of around 7 billion dollars (S$10.7 billion), have begun a merger process, the official WAM newsagency reported on Saturday. The merger of the two banks ...
The Next Subprime Crisis Looms - FHA-Backed Loans - Free Internet PressThe same people whose reckless practices triggered the global financial crisis are onto a similar scheme that could cost taxpayers tons more. As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers - many of them the ...
Indian shares will be among first to recover: regulator chief - Gulf TimesNEW DELHI: India’s markets will be among the first to recover from the stock rout caused by the financial crisis roiling the world’s bourses, said CB Bhave, head of the nation’s capital market regulator. “This country will be among the first ...
Pressure on Citigroup builds, shares fall below $4 - Associated PressNEW YORK (AP) -- Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share on Friday and fears escalated about future loan losses. CEO Vikram Pandit told managers earlier in the day he opposes breaking up the ...
Investor fear remains deep despite one-day rally - WJLANEW YORK - Since the Nov. 4 election, investors have been abandoning stocks in a kind of slow-motion crash that experts say underlines just how anxious they are about what is likely to be a long and deep recession. Even after a late-day rally on ...
Today's Mortgage Terms starting with B
Bankruptcy: A legal procedure in a federal court to relieve certain debts of a person or a business that is no longer able to pay its debts. Chapter 7 bankruptcy removes all debts. Chapter 13 lets a borrower with and income to pay bills off over a set period of time.
Bearer: The legal owner of a property.
Bill of Sale: A document that details the transfer of property.
Biweekly Mortgage: A mortgage with payments due every two weeks, totaling 26 payments a year, two payments more than a mortgage with monthly payments. The two extra payments lowers significantly the interest paid over the life of the mortgage.
Blanket Mortgage: A mortgage that includes more than one piece of real estate
Borrower (Mortgager): An individual who makes an application for and receives funds in the form of a loan and is obligated to repay the loan in full under the conditions of the loan.
Broker: An individual who gets buyers and sellers together and helps in negotiating contracts for a client.
Buy-Down Mortgage: A mortgage loan with a lower than market rate for a determined period of time.
Buyer’s Market: Market conditions that favor buyers. When there are more properties for sale than buyers, sellers may be forced to provide price discounts to close the transaction.
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