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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.

View all Terms
Bay mortgage rates news:
Financial News
What caused economic crisis? No one thing - St. Petersburg Times
In this complex financial crisis, the presidential candidates have the biggest megaphone of all to help us understand the mess we're in. But relying on them for an unvarnished view is like asking competing trial attorneys to provide the "facts" of a ...

Mortgage rates slide again - Inside Bay Area
WASHINGTON — Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6 ...

Canadian Conservatives poised for election losses - St. Petersburg Times
Prime Minister Stephen Harper has acknowledged his Conservative minority government could lose Tuesday's general election, as the mood of the electorate has shifted. There's a perceived feeling Harper is insensitive to the angst being felt over the ...

Interbank lending rates keep rising - Inside Bay Area
NEW YORK — Governments around the world have slashed interest rates and ramped up their lending to unprecendented levels, but banks are still charging each other extremely high borrowing rates — a bad sign for the credit markets that remain close ...

Credit crunch hits Bay Area housing market hard - San Francisco Gate
Saturday, October 11, 2008 Cheap credit played a dramatic role in fueling the housing boom of the late 1990s and early 2000s, particularly in places like the Bay Area, where buyers relied heavily on unconventional loans to purchase homes that would ...

Crisis hits mortgage rates - Ottawa Sun
TORONTO — One of Canada’s biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines ...

Promises of help added to woes - Baltimore Sun
Two women beset with health and financial problems were facing imminent foreclosure on their Ellicott City homes when they thought rescue was at hand. Betty J. Bullock, 63, had poor eyesight and diabetes for years and lived on about $800 a month in ...

The week ahead - Green Bay Press-Gazette
MONDAY: Weekly Treasury auction. Weekly Treasury briefing. House Oversight and Government Reform Committee hearing on the collapse of Lehman Brothers. TUESDAY: Federal Reserve releases minutes. Federal Reserve releases consumer credit for August ...

An up and down day for money market funds - San Francisco Gate
Thursday, October 9, 2008 World's banks join up to slash interest rates 10.08.08 McCain campaign outlines mortgage-rescue plan 10.08.08 Pender: Up and down day for money market funds 10.09.08 Bailout gives tax break to bicycle commuters 10.08.08 ...

Credit crisis bears down on hospitals - MSNBC
The credit freeze that has followed Wall Street’s subprime mortgage meltdown is bearing down on another victim: Bay Area hospital construction projects. “Any kind of (credit) issuance has halted, while folks are waiting for things to settle down ...

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sources: informars.com, erate.com, Freddie Mac
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