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Homeowners targets of scam - Honolulu AdvertiserThe FBI is investigating several local companies that allegedly bilked homeowners out of more than $300,000 on O'ahu, the Big Island and Maui with false promises to help them avoid foreclosure, according to local lenders and law enforcement officials ...
Archive » 2005 » November - BankerFor the past eight years in Britain, we have “laboured” under a government consisting of mostly spin and very little substance. Time and again, vital public sector reform has been fudged – public sector pensions being the latest example ...
Articles » Comments & Analysis - Bankeryears, the first signs of what a post-crisis world will look like are starting to emerge. The winners in banking will be those that recognise the changes first and work out to how to position themselves correctly. The ongoing credit and capital ...
A look at economic developments around the world - Lexington Herald-LeaderLONDON - Mortgage lending in Britain was down 44 percent in October compared with a year ago, the Council of Mortgage Lenders said. Meanwhile, government statistics showed that British retail sales fell only 0.1 percent in October from September, and ...
Data reveal private lending at a low - Financial TimesStrains in the credit system were highlighted by Bank of England data yesterday showing that lending to households and private non-financial companies - the backbone of the economy - rose year on year in September by just 6.8 per cent. This is the ...
UK Rents Drop As Owners Turn To Letting On Lack Of Sales-RICS - FXStreet.comLONDON (Dow Jones)--The cost of renting in the U.K. residential letting market has fallen as the number of properties available to rent has risen. The Royal Institution of Chartered surveyors reported Tuesday in the quarterly letting survey that many ...
City is biggest recession victim as new cull looms - Evening StandardThe City faces more grim news this week as it emerged that JPMorgan is drawing up plans to cut thousands of jobs across its global operations from the beginning of next year. It follows warnings that 370,000 jobs could be lost in London in the coming ...
Feds: FAA worker took plane, yachts as perks - Las Vegas SunA Federal Aviation Administration employee from Southern California took illegal perks from his job _ including a plane, yachts and heavy-duty trucks _ and an investigation continues into how widespread the practice was, federal prosecutors said ...
Deals and acquisitions are in his safe hands - IndependentShare Tom Godfrey is sporting a cast on his wrist from an injury sustained while playing tennis on holidays in Portugal a few weeks ago. "Still, I got the ball away," he says, with a smile. Getting the ball away is the raison d'etre for a career ...
European Bonds Trounce Treasuries as ECB Catches Up (Update2) - BloombergNov. 17 (Bloomberg) -- The looming global recession is prompting investors to shift funds into European government bonds at the expense of Treasuries on speculation policy makers have more scope to cut interest rates than the Federal Reserve. An ...
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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