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News about Mortgages:
Foreclosure scammer sentenced to 61 months in prison - OregonLive.comForeclosure scammer sentenced to 61 months in prisonOregonLive.comA Salem mortgage broker-turned-foreclosure rescue scammer who took his clients for more than $450000 was sentenced Friday to ...and more »
Take 5: Clark Manning - Lansing State JournalTake 5: Clark ManningLansing State JournalMost of the mortgage-backed securities portfolio that we had did fine. Most that we had was senior, meaning it's on the very top of the credit stack. ...and more »
Why Your Credit Card Statement Looks Different - 13WHAM-TVWhy Your Credit Card Statement Looks Different13WHAM-TVManning favors a range tied to mortgage interest rates. If the mortgage rate is 5 percent, credit cards could charge that plus eight, nine or ten percent. ...and more »
St. Thomas student group allocates nonprofit grants - Finance and CommerceSt. Thomas student group allocates nonprofit grantsFinance and CommerceThe seven students on this year's Gibney Student Board are Lauren Becker, Danielle Cotton, Laura Farley, Kylie Gayan, Tyler Manning, Andrew McPherson and ...
Leighton: MSU hands out exec raises as workers suffer - Lansing State JournalLeighton: MSU hands out exec raises as workers sufferLansing State JournalAh, the good old days ... those before the Wall Street collapse, mortgage foreclosures and massive job losses. The days when corporate executives received ...and more »
Caribbean Round-Up - Caribbean LifeCaribbean Round-UpCaribbean LifeThe opposition United National Congress (UNC) has filed a no-confidence motion against Trinidad and Tobago Prime Minister Patrick Manning in parliament over ...
Northern Rock staff get £13 million bonus for failure - Mirror.co.ukNorthern Rock staff get £13 million bonus for failureMirror.co.ukStaff at Northern Rock are to share £13million in bonuses even though the bank is still losing money. ...and more »
Lipgloss now included when calculating on cost of living - Mirror.co.ukLipgloss now included when calculating on cost of livingMirror.co.ukA shake-up in the way inflation is measured could push up the cost of living as different types of mortgages are ...and more »
They're hired! - Boston GlobeThey're hired!Boston GlobeFormer newspaper editor Susan Bushey Manning left journalism in 2007 because she feared layoffs. The Worcester resident took a job as a ...and more »
Trinidad construction chair resigns amid inquiry - eTaiwan Newsi95.5 FMTrinidad construction chair resigns amid inquiryeTaiwan NewsThose included the National Academy for the Performing Arts, a new home for Prime Minister Patrick Manning and a still-unfinished stadium that was supposed ...HART RESIGNSTrinidad NewsUdecott executive chairman resignsThe Trinidad Guardianall 55 news articles »
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.
View all Terms