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Berkeley profs call for quick economic action - San Francisco Gate
Friday, October 3, 2008 "Fixing this program is now very urgent," said Barry Eichengreen, professor of economics and political science. "It's time for the Congress and the public to come to their senses and realize there are more important things to ...

How Countrywide-BofA mortgage settlement helps California homeowners - San Francisco Gate
Monday, October 6, 2008 The pact stems from cases filed earlier this year by California and other states, alleging the Calabasas (Los Angeles County) lender used misleading advertising and unfair business practices to dupe customers into taking out ...

Goldman Sachs' survival in Wall Street jungle - Los Angeles Times
WHAT IS a disaster for America's Wall Street (actually 50th and Park) and London's City (actually Canary Wharf) and deep trouble for the economy of jobs, factories and stores has a (very small) silver lining for Charles D. Ellis and his publisher ...

Why is Wall Street in shambles? - Berkeleyan Online
As the global economy stumbles, a reliable lineup of Berkeley professors in business, economics, law, public policy, and the social sciences has become the A Team of expert commentators. Berkeley’s deep expertise and impressive real-world ...

Professors Incorporate Bailout Plan Into Class Curricula - Daily Californian
The U.S. House of Representatives' vote yesterday to reject the $700 billion bailout is not just making news on Wall Street, but in UC Berkeley classrooms as well. The House voted 228 to 205 against the plan, which would have effectively allowed the ...

Site Presented By - Salon
If the first 45 minutes of trading on the New York Stock Exchange Monday morning is any indication, then this week will indeed be, as econoblogger Felix Salmon predicted before the markets opened, another "long week." The Dow Jones Industrial Average ...

After Wall Street, anger spreads to Congress - MSNBC
Mary Ann Bock got pretty angry when she found out that lax mortgage standards had started a financial maelstrom that appeared likely to require billions of dollars in federal money to fix. She got even angrier after she heard that Congress wasn’t ...

An airship's down-to-earth crew - Newsday
NEWARK, N.J. - Clark native Tim Lichardus hasn't had a place to call home for the last 12 years _ no apartment, no house, no timeshare. His job as a blimp crewman requires him to live out of a suitcase 11 months of the year. But the job is not ...

As Congress debates, what else can government do? - Boston Globe
WASHINGTON— After the House voted down the Bush administration's $700 billion financial rescue plan Monday, Treasury Secretary Henry Paulson said he will "use all the tools available" to address the crisis. Congress may yet approve the bailout ...

On the road to keep a blimp in the air - Philadelphia Inquirer
NEWARK, N.J. - Union County native Tim Lichardus hasn't had a place to call home for 12 years - no apartment, no house, no time-share. His job as a blimp crewman requires him to live out of a suitcase 11 months of the year. But the job is not without ...

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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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