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Charges filed in Sexton Lofts mortgage fraud case - Finance and CommerceFinance and CommerceCharges filed in Sexton Lofts mortgage fraud caseFinance and CommerceGerald James Greenfield of Bloomington was charged with one count of conspiracy to commit mortgage fraud through the use of wires, four counts of mortgage ...
NorthMarq sets up $3.3M mortgage for apartment project - Finance and CommerceNorthMarq sets up $3.3M mortgage for apartment projectFinance and CommerceBloomington-based NorthMarq offers commercial real estate solutions across the country. The NorthMarq Capital group offers commercial real estate investment ...
Property transfers - Trading Markets (press release)Property transfersTrading Markets (press release)104, Bloomington; Federal National Mortgage Association of Dallas, Texas, sold to James C. Bottorff of Portage; $43000; Feb. 4. Parcel on South Chapel Hill ...
Commercial mortgage terms likely to loosen in 2nd half of 2010 - Finance and CommerceFinance and CommerceCommercial mortgage terms likely to loosen in 2nd half of 2010Finance and Commerce“The asterisk on this is that lenders still want to do conservative loans,” said Pat Minea, senior managing director with Bloomington-based Northmarq ...
Man pleads guilty to federal charges in mortgage fraud scheme - Savage PacerMan pleads guilty to federal charges in mortgage fraud schemeSavage PacerBut those details were made public on March 5 when Nicholas Ryan Delon Smith, 30, of Prior Lake, and Gerald James Greenfield, 64, of Bloomington, ...
Brookdale Mall sold to bank for $12.5 million - Finance and CommerceFinance and CommerceBrookdale Mall sold to bank for $12.5 millionFinance and CommerceThe bank lender for the ailing Brookdale Center on Friday bought the regional mall for $12.5 million at a voluntary mortgage ...and more »
Sexton developer admits fraud - Minneapolis Star TribuneSexton developer admits fraudMinneapolis Star TribuneThe two other men charged Friday in the Sexton mortgage fraud are Gerald James Greenfield, 64, of Bloomington, and Nicholas Ryan Delon Smith, 30, ...and more »
Special prosecutor for Leary rejected - Fort Wayne Journal GazetteSpecial prosecutor for Leary rejectedFort Wayne Journal GazetteLeary was arrested in early February at Assembly Hall in Bloomington moments before the IU-Purdue basketball game. He was an analyst for the IU Radio ...and more »
Four US Banks Shut Down as Failure Count This Year Reaches 26 - BusinessWeekBeijing NewsFour US Banks Shut Down as Failure Count This Year Reaches 26BusinessWeekHeartland Bank and Trust Co. of Bloomington, Illinois, will pay a 3.61 percent premium for Bank of Illinois's $198.5 million in deposits, ...Regulators shut down Centennial Bank, Waterfield Bank & Sun American Bank of ...Khabrein.infoall 622 news articles »
What to do when facing foreclosure - Bloomington PantagraphWhat to do when facing foreclosureBloomington PantagraphBLOOMINGTON -- When facing foreclosure, the worst thing you can do is ignore it because you think you're out of options, according to local homeowner ...Job woes add to county's foreclosure problemsistockAnalyst.com (press release)all 3 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.
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