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DeSoto residential building permits hit 10-year low - Memphis Commercial AppealDeSoto residential building permits hit 10-year lowMemphis Commercial Appeal, TN - Jan 6, 2009Olive Branch issued 123, Hernando issued 74, Horn Lake issued 26 and Walls issued two. The most residential single-family building permits issued since 1999 ...
22 indicted for role in marijuana operation - Spinal Column Online22 indicted for role in marijuana operationSpinal Column Online, MI - Dec 16, 2008Six were also indicted on mortgage fraud charges; however, the individual charges for each of the 22 indicted were not released. The DEA states in addition ...
Jeff Pelline: A year to ring in change - The Union of Grass ValleyJeff Pelline: A year to ring in changeThe Union of Grass Valley, CA - Jan 3, 2009Like many of you, we have a big stake here: raising a child, working in town rather than down the hill, paying a mortgage, as well as our taxes. ...
Land Transactions - Clanton AdvertiserLand TransactionsClanton Advertiser, AL - Dec 15, 2008Suntrust Mortgage, Inc. to Federal National Mortgage Association (Fannie Mae), land located in Lot 4, Block A of Scottsdale Estates Subdivision, Clanton. ...
Year of the fallen soldier - Brantford ExpositorYear of the fallen soldierBrantford Expositor, Canada - Dec 26, 2008Chad Horn, all members of 2nd Battalion, Princess Patricia's Canadian Light Infantry battle group, based in Shilo, Man., are killed in an insurgent assault ...
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