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Today's Mortgage Terms starting with E

Equity:

The difference between the current market value of a property and the total debt outstanding against the property.

Escrow:

A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

View all Terms
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Mortgage-fraud reports are up - Philadelphia InquirerEfforts to tighten lending standards appear to have had little effect so far, as reports of mortgage fraud increased 42 percent in the first quarter of 2008 from the same period of 2007. A study released this week by the Mortgage Asset Research ...
Amcore closing 3 branches, 1 office - Chicago TribuneAmcore Financial Inc. , which reported an unexpected loss in the second quarter due to troubles in its real estate-lending portfolio, is closing three branches and one office as the bank tries to reduce costs. Rockford-based Amcore, which has assets ...
Obama: Can't allow Fannie, Freddie to collapse - ReutersDAVENPORT, Iowa (Reuters) - Presidential candidate Barack Obama said on Monday the government cannot allow mortgage finance companies Fannie Mae (FNM.N: Quote , Profile , Research , Stock Buzz ) and Freddie Mac (FRE.N: Quote , Profile , Research ...
Fitch Rates $151MM PHH Mortgage Trust, Series 2008-CIM2 - ForbesThe 'AAA' rating on the senior certificates reflects the 5.55% subordination provided by the 2.75% privately offered B-1 class, the 0.95% privately offered B-2 class, the 0.40% privately offered B-3 class, the 0.80% privately offered B-4 class, the 0 ...
Downturn hasn't slowed loan fraud - Charleston Post & CourierYou might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. Wrong. A benchmark quarterly study released Aug. 25 by the mortgage industry's ...
Kenneth Harney: Despite decline in home sales, loan fraud accelerating - Arizona Daily StarWASHINGTON — You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. Wrong. A benchmark quarterly study released Aug. 25 by the mortgage ...
McCain picks Alaska Gov. Palin as running mate - Miami HeraldPalin's first scandal began as family feud In Alaska, Palin known for charging into battle against long odds Palin backs oil drilling in wildlife refuge Palin's first scandal began as family feud McCain picks Alaska Gov. Palin as running mate In ...
Missouri and Illinois get straight "F's" - St. Louis Post-DispatchSome states have laws to protect consumers against being gouged with high interest on small loans — the kind that can tide you over for a few weeks. Not Missouri and Illinois. Both states got failing grades in a survey this week of abusive lending ...
2 years, no payments -- but Rezkos still have their house - Chicago Sun-TimesIf you didn't pay the mortgage on your home for two years, would your bank let you just go on living there? Tony Rezko's has. He hasn't made a mortgage payment on his Wilmette mansion for two years. But, rather than evict him, LaSalle Bank has let ...
Promises of reform drive Obama's night - USA TodayDENVER — With a display of fireworks and pagentry worthy of an Olympics opening, Barack Obama began his historic campaign as the Democratic presidential nominee Thursday. He promised to reform Washington's broken politics and attacked his ...
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