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US recession began in December 2007’ - Daily TimesWASHINGTON: The US economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. The NBER _ a private, nonprofit research organization _ said its group of academic economists who determine business cycles ...
Merrill Said to Cut Year-End Bonuses by 50% as Revenue Slumps - BloombergDec. 3 (Bloomberg) -- Merrill Lynch & Co. plans to cut year- end bonuses in half after more than $20 billion of losses that forced the U.S. securities firm to sell itself to Bank of America Corp. , two people with knowledge of the situation said. The ...
DEALTALK-Bank of America-Merrill vote now one of necessity - FXStreet.comNEW YORK, Dec 2 (Reuters) - Bank of America Corp and Merrill Lynch & Co shareholders may vote "yes" on the companies' merger because of the consequences of voting "no." Merrill was arguably saved from extinction when it agreed to merge on Sept. 15 ...
Fitch Downgrades 7 Classes of Merrill Lynch Mortgage Trust, Series ... - Businesswire.comNEW YORK--( BUSINESS WIRE )--Fitch Ratings downgrades, removes from Rating Watch Negative, and assigns Outlooks to the following classes of Merrill Lynch Mortgage Trust, series 2004-KEY2: --$15.3 million class H to 'BB+' from 'BBB-'; Outlook Stable ...
Overstock's Byrne deciphers Economic Meltdown Civilization ... - The RegisterRadio Reg Patrick Byrne doesn't call it an economic meltdown. He calls it "the de-leveraging of a civilization." When the ever-quotable Overstock.com CEO last sat down with Radio Reg, the world still pegged him as a tin hat–wearing crackpot . But ...
Fed Approves Bank Of America- Merrill Lynch Deal - Update - RTT News(RTTNews) - Bank of America Corp. (BAC: News ) announced Wednesday that it has received approval from the board of the Federal Reserve System for its proposed $50 billion takeover of Merrill Lynch & Co. Inc. (MER: News ). Charlotte, North Carolina ...
Chicago Mortgages - Orlando SentinelChicago area mortgage news, issues and trends from Chicago Tribune sources. Show more » Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information ...
Tyson: Spin on downturn spirals into needless fear - Houston ChronicleReuters News Service recently published an article with this provocative headline: “Merrill CEO says economic environment recalls 1929.” (See the link to the article on my Web site, www.erictyson.com). Merrill Lynch was in the news a lot in 2008 ...
UBS slashes target on Bank of America by 48 percent - Boston Globe(Reuters) - UBS slashed its price target on Bank of America Corp
by 48 percent, citing tighter credit conditions, uncertainty over near-term prospects of the Merrill Lynch & Co deal and risk of additional write-downs. Tight credit ...
UPDATE 1-UBS slashes target on Bank of America by 48 pct - FXStreet.com
Nov 28 (Reuters) - UBS slashed its price target on Bank of America Corp by 48 percent, citing tighter credit conditions, uncertainty over near-term prospects of the Merrill Lynch & Co deal and risk of additional writedowns. Tight credit conditions ...

Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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