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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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Washington mortgage loans news:
Treasury considering mortgage rate plan - ABC2 NewsWASHINGTON (AP) - The Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. That's according to Neel Kashkari, who heads the government's $700 billion financial ...
3Q auto-loan delinquency rate jumps 15.9 percent - Yahoo FinanceNEW YORK (AP) -- The percentage of auto loans that were past due 60 days or more rose 15.9 percent in the third quarter compared to last year, according to credit reporting agency TransUnion. The rate rose to 0.80 percent of outstanding loans, from 0 ...
Treasury considering mortgage rate plan - ABC2 NewsWASHINGTON (AP) - The Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. That's according to Neel Kashkari, who heads the government's $700 billion financial ...
Kashkari: Treasury considering mortgage rate plan - WTOP RadioWASHINGTON (AP) - The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. Under the ...
Head of Financial Rescue Says Treasury Considering Mortgage Rate Plan - FOX NewsWASHINGTON -- The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. Under the ...
Mortgage plan shows increased gov't role - SalonDec 4th, 2008 | WASHINGTON -- If you're looking for a mortgage, Uncle Sam may be the only game in town. The government has already increased its share of the mortgage market to around 90 percent from around 55 percent last year as Wall Street licks ...
Washington's new tack: Helping homeowners - International Herald TribuneWASHINGTON : After pouring vast amounts of money into financial institutions of almost every type, and having little to show for it, the Bush administration and the Federal Reserve are suddenly taking a new look at ordinary homeowners. Ben Bernanke ...
Carper: Let bailed-out banks make loans to automakers - Delaware OnlineWASHINGTON — Sen. Tom Carper today broached the idea that the financial institutions that have already received an estimated $215 billion in government aid should provide loans to Detroit’s Big Three automakers. During a Senate Banking Committee ...
UPDATE 1-CDOs a thing of the past; MBS market needs fix-Fed - FXStreet.comWASHINGTON, Dec 4 (Reuters) - The market for mortgage securities will return to health only once the contracts and disclosure of those investments are standardized, a senior Federal Reserve Board official said on Thursday. "I believe that markets for ...
Fed plans aid to unfreeze credit for cars, mortgages, other consumer ... - Detroit NewsWASHINGTON -- The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The new programs from the Federal Reserve and ...
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