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Auburn National Bancorporation, Inc. Elects Not to Participate in TARP - MSN MoneyCentralAUBURN, Ala., Nov. 21, 2008 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq:AUBN) announced today that it did not apply for funds available through the U.S. Department of the Treasury's Capital Purchase Program, part of the federal ...
Downey Seized, Sold to U.S. Bancorp as Mortgage Fallout Spreads - BloombergNov. 22 (Bloomberg) -- Seizure and sale of Downey Financial Corp. and two smaller lenders may cost the FDIC more than $2 billion as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression. U.S. Bancorp ...
Subprime mortgage 'rip-off' has legitimate roots - Seattle Post IntelligencerAt the height of the real estate boom, lenders paid mortgage brokers as much as $15,000 or more to steer borrowers into overpriced loans. Called yield-spread premiums, these kickbacks increase with the gap between what loan borrowers qualify for, and ...
Mercer defeats Auburn 78-74 - Buffalo NewsJames Florence had a game-high 25 points as Mercer beat Auburn 78-74 on Wednesday night to take its second straight victory over a Southeastern Conference school in four days. The Bears (3-0) defeated Alabama 72-69 Sunday. Down by two points, Auburn ...
Obama picks his communications team - CNNRobert Gibbs, an Obama campaign spokesman who also has acted as spokesman for the transition, will become Obama's press secretary, one of the most highly visible roles in the administration. Gibbs, an Auburn, Alabama, native who has worked for Sen ...
Obama taps passionate defender for press secretary - Las Vegas SunTwo of the top qualities Robert Gibbs brings to the job of White House press secretary are ones not found on his resume: He won't flinch at telling it like it is to the next president or telling it like he thinks it ought to be to the media. Gibbs ...
Georgia Tech recovers to beat Mercer in OT, 82-76 - Buffalo NewsAlade Aminu scored the first four points in overtime and Georgia Tech, which never led in regulation, recovered to beat Mercer 82-76 on Saturday. Zachery Peacock's two free throws pulled Georgia Tech even for the first time at 69-all with 32 seconds ...
VETERANS: NEW LAW: VA NOW OFFERS VA GUARANTEE REFINANCE OPTION IF YOU ... - Auburn JournalVETERANS MAY BE ABLE TO GET OUT OF SUB-PRIME LOANS-PREVENT LOSS Of THEIR HOME I am always looking for ways to help my fellow veterans and those serving our Country (Phone cards, care packages, benefits, etc). This new REFINANCE aspect of the ...
Congress needs to change - Auburn JournalWhether you call it a stimulus package for the economy, or a bailout for unscrupulous corporations, the bottom line is that Wall Street is by far the biggest beneficiary of the trillions of taxpayer dollars the government is investing to stave off a ...
Two Cents - Citizen OnlineAfter all the problems we've had in the last few months, we're finally finding out that these political people who run our towns, cities, the whole government, are not really worth what they're getting paid. They are taking trucks traffic from routes ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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