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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.

View all Terms
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Wall Street Shrinks From Competing With Fannie Mae, Freddie Mac - BloombergJuly 24 (Bloomberg) -- Bobby Joe Cooper says she ``kicks herself every day'' for not using a Fannie Mae or Freddie Mac mortgage when she refinanced her Terre Haute, Indiana, home three years ago. Instead, the 29-year-old mother of three borrowed $55 ...
Indiana Community Bancorp Announces Second Quarter Earnings - MSN MoneyCentralCOLUMBUS, Ind. , July 22 /PRNewswire-FirstCall/ -- Indiana Community Bancorp (the "Company") INCB , the holding company of Indiana Bank and Trust Company of Columbus, Indiana (the "Bank"), today announced quarterly earnings of $273,000 or $0.08 ...
Jobless claims jump as housing market gets weaker - Miami HeraldWASHINGTON Two cornerstones of the economy - jobs and housing - sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record. The bleak reports underscored the self-reinforcing ...
Sheriff's sale set — Williams - Washington Times-HeraldBy virtue of a certified copy of a Decree to me directed from the Clerk of Superior Court of Daviess County, Indiana, in Cause No. 14D01-0803-MF-032 wherein Universal Mortgage Corporation, was Plaintiff and Linda Williams, et al., were Defendants ...
MainSource Financial Group, Inc. Names Archie M. Brown, Jr. President ... - EarthtimesGREENSBURG, IN -- 07/24/08 -- MainSource Financial Group, Inc. (NASDAQ: MSFG) (the "Company") today announced that Archie M. Brown, Jr. has agreed to serve as the Company's President and CEO, effective August 4, 2008. Mr. Brown will also serve as a ...
First Capital, Inc. Reports Second Quarter Earnings Increase - MSN MoneyCentralCORYDON, Ind., July 24, 2008 (PRIME NEWSWIRE) -- First Capital, Inc. (Nasdaq:FCAP), the holding company for First Harrison Bank (the "Bank"), today reported net income of $889,000 or $0.32 per diluted share for the quarter ended June 30, 2008 ...
Collateralized Debt Obligation - FoxBusiness.comWelcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously complicated deals that often leave anyone without a MBA wondering what was put into these CDOs. The first thing to understand ...
Sheriff's sale set — Weimer - Washington Times-HeraldBy virtue of a certified copy of a decree to me directed from the Clerk of Circuit Court of Daviess County, Indiana, in Cause No. 14C01-0802-MF-081, wherein The Bank of New York as Trustee for Equity One, Inc. Mortgage/Pass Through Certificates ...
Regulatory Policy and Organizations - Chicago TribuneOnly one financial services company offers the product, which 18,000 people in the nation possess, but debit cards tied to 401(k) plans have touched so many nerves that some in Congress want them outlawed. Supporters said the 401(k) debit card gives ...
Indiana Community Bancorp Posts Q2 Results - Inside Indiana BusinessColumbus-based Indiana Community Bancorp (Nasdaq: INCB), holding company of Indiana Bank and Trust Company, has announced secone quarter earning of $273,000, compared to earning of $1.69 million in the same quarter of last year. The company says an ...
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