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Today's Mortgage Terms starting with V

VA Loans:

Fixed-rate loans guaranteed by the U.S. Department of Veterans Affairs for the purpose of making housing affordable to eligible U.S. veterans.

Variable Rate:

Interest rate that changes periodically in relation to a specific index such as treasury bills and the prime rate.

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Franklin mortgage rates news:

They Warned Us About the Mortgage Crisis - BusinessWeek
(page 4 of 5) The OCC's Hawke assisted the industry by issuing a ruling in July 2003 saying the Georgia law did not apply to national banks or their subsidiaries. A fact sheet prepared at the time—and still available on the OCC's Web site—says ...

How National City got to this point - Cleveland Plain Dealer Blog
1999: National City bought California-based First Franklin from a subsidiary of Bank of America for $266 million. First Franklin specialized in subprime mortgages for people with poor credit ratings who could qualify for loans only at high interest ...

U.S. to buy shares in struggling banks - Los Angeles Times
WASHINGTON -- In an extraordinary response to the escalating financial crisis, Treasury Secretary Henry M. Paulson said Friday that the government would buy direct stakes in banks and other financial institutions for the first time since the Great ...

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 ...

Dow rallies after Fed move to lend to businesses - Newark Star-Ledger
Wall Street is moderately higher in early trading, with investors encouraged by a Federal Reserve plan to buy massive amounts of short-term debt from companies. The Dow Jones industrials rose 80 points in early trading. Richard Drew/AP Traders on the ...

The $700 Billion Question - Forbes
Whether or not Congress approves the Bush administration's $700 billion Wall Street rescue plan, a question hangs in the air: Will it work? Economists and financial experts don't all agree that a taxpayer-funded purchase of troubled mortgage ...

Administration, Bankers Squelched Early Warnings About Mortgage Crisis - WTVF
More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator. Sitting in the spacious Office of the Comptroller of the Currency, with its panoramic ...

Tennesseans resigned to riding out downturn - Nashville Tennessean
Business is bad. Prices are up. Houses aren't selling. Retirement savings are up in smoke. And last month, the entire city of Nashville ran out of gas. Still, most people here seem to be taking tough economic times in stride. Maybe they're cutting ...

Lawmakers lash Wall Street execs at hearings - San Francisco Gate
Tuesday, October 7, 2008 The top executives of Lehman Bros., which has filed for bankruptcy, and AIG, which has been propped up by an $85 billion federal bailout, are taking a public whipping for their role in the financial crisis - and they're ...

What would Obama do about economy? - Chicago Sun-Times
Watching the stock market tank leaves you with the queasy feeling that everything done so far to stop the financial panic has turned out to be too little too late. The fire sale of Bear Stearns, and doesn't that seem like ancient history though it ...