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From the web team - bbcWe'll let you decide how impressive speaker Michael Martin's performance was as he tried to explain to a packed House of Commons why police were allowed into Parliament to investigate the offices of the Conservative frontbencher, Damian Green ...
Newspaper round-up - Reuters UKPlans to give working rights to 4.5 million employees of British companies are to go ahead, despite protests from business leaders. The Labour Party's business secretary, Lord Mandelson, stated last October that he would review the new rights, which ...
PRESS DIGEST - Financial Times - Dec 3 - ReutersPlans to give working rights to 4.5 million employees of British companies are to go ahead, despite protests from business leaders. The Labour Party's business secretary, Lord Mandelson, stated last October that he would review the new rights, which ...
Obama weighs names for top posts - SalonSen. Hillary Rodham Clinton, D-N.Y., former first lady and one-time Obama rival for the Democratic presidential nomination. Denny Blair, retired admiral and former commander of the U.S. Pacific Command. Former Rep. Tim Roemer, D-Ind., and member of ...
BCE Takeover Collapse Would Remove Last Vestiges of LBO Craze - BloombergNov. 26 (Bloomberg) -- The possible collapse of the C$52 billion ($42 billion) purchase of BCE Inc. by private- equity firms would erase the last vestiges of a leveraged- buyout boom that ground to a halt almost 18 months ago. BCE said today that the ...
Pre-Budget 2008: As-It-Happened - Politics.co.ukWelcome to politics.co.uk's As-It-Happens page. Here, you can keep up to date on speeches, debates and major political events in real time. Just hit refresh on your browser to see the latest development. Send comments to ian.dunt@politics.co.uk. This ...
Archives » November 2008 - Newsweek BlogWhen president-elect Barack Obama rolls out his national security team tomorrow in Chicago, he will make history on several fronts. While the naming of Hillary Clinton, whom he battled against in an epic campaign for the Democratic nomination, as ...
Stamford-based Harman readies to weather economic storm - Stamford AdvocateAs Americans cope with lost jobs, mortgage and credit card debt, falling home values and stock prices, Harman International Industries of Stamford said it hopes consumers will keep buying home entertainment speakers that can cost as much as $2,300.
Harriet Harman concedes economic gloom spells trouble for Gordon Brown - Daily TelegraphThe deputy leader backed Chancellor Alistair Darling's ominous assessment of the economy last week and admitted that Labour needed to "have a different conversation with the country now". She said: "When people feel that their lives are more of a ...
Credit crunch shouldn't be a reporter's crutch - BusinessWeekThere’s some intellectual laziness floating through the world of finance lately. Everyone knows that the subprime mortgage mess has reduced demand from investors and lenders for riskier stuff. And everyone knows some leveraged buyout deals are in ...
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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