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Madigan suing a Plainfield company - Herald News
CHICAGO -- A Plainfield company is among seven "so-called mortgage 'rescue' companies" that were sued Monday by Illinois Attorney General Lisa Madigan. Madigan said the companies were scamming vulnerable homeowners who are on the verge of foreclosure ...

Stonegate Mortgage Corporation Hires Cori Drudge as Loan Originator - Market Wire
INDIANAPOLIS, IN--(Marketwire - November 17, 2008) - Stonegate Mortgage Corporation is pleased to announce the hiring of Cori Drudge as a Loan Originator for their Fishers, Indiana office. Prior to joining Stonegate Mortgage, Mr. Drudge was the ...

Morning Briefing - Batavia Sun
School bus drivers with First Student in Naperville voted 258-74 to join the Teamsters, according to a press release. The bargaining unit consists of 417 workers. The Naperville workers are the latest group of First Student drivers in Illinois to ...

Lawmakers object to Rell's stance on money for crisis - New London Day
Eastern Connecticut legislators, led by U.S. Rep. Joe Courtney, have banded together to protest Gov. M. Jodi Rell's proposal to exclude the region from most of a $25 million federal program aimed at stabilizing neighborhoods in crisis. Courtney, D ...

Courtney criticizes Rell's mortgage plan - Record-Journal
A local congressman is looking for assurance that Eastern Connecticut won’t get shut out of a federal program aimed at helping homeowners avoid foreclosures. U.S. Rep. Joe Courtney, D-2nd District, has scheduled a press conference at 1:30 today in ...

Madigan sues 7 companies over mortgage schemes - St. Louis Business Journal
Illinois Attorney General Lisa Madigan sued seven so-called mortgage “rescue” companies late Monday and warned consumers about an alarming rise in these scams that prey on vulnerable homeowners on the verge of foreclosure. Con artists targeted ...

Planfield Health Center shows off renovations, changes at open house - Times-Argus
PLAINFIELD – Patients of The Health Center who used to thread their way through a packed waiting room to reach the front desk now have a very different welcome. They walk down a wood-paneled hall into an atrium in front of the registration area ...

Soul star at home in Vegas - Las Vegas Sun
Sidney Barnes, a major figure in soul music, moved to Las Vegas a few months ago. He plans to work to preserve Motown music with shows by original artists. Sidney Barnes has been flying under the radar for years. The singer, songwriter and producer ...

Real-Time News - Newark Star-Ledger
• High school football: Piscataway versus Plainfield • High school football: Piscataway versus Plainfield • High school football: Piscataway versus Plainfield A University of Delaware freshman from South Brunswick died Saturday of apparent ...

PNBC increases earnings per share - Bureau County Republican
PRINCETON — Princeton National Bancorp Inc. reported 2008 year-to-date fully diluted earnings per share increased 34.8 percent to $1.90 from $1.41 in the same period in 2007. Net income for the first nine months of 2008 increased 33.4 percent to $6 ...

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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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