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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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Winnebago mortgage loans news:

Local Business Watch: Four named to Business Hall of Fame - Des Moines Register
Four business leaders will be inducted into the Iowa Business Hall of Fame on Dec. 11. The Greater Des Moines Committee's annual black-tie dinner will honor Glenn H. De Stigter, chairman of Weitz Co.; David L. Miller, retired chairman and chief ...

Ames would pay in cases of misuse of flood relief funds - Iowa State Daily
The 2008 Jumpstart Iowa flood relief program was recently approved by the Ames City Council, allowing state and federal funds to reach Ames citizens affected by the summer floods. In order to attain the funds, the city of Ames had to agree to be held ...

Elbert: Iowa firms hit by market 'plague' - Des Moines Register
I hate to say this, but when it comes to the collapsing stock market, a broker friend doesn't believe we are done. To use his indelicate phrasing, we haven't hit the "puke up position" yet. That's when the market drops 1,000 points in one day, then ...

State makes millions available in flood aid - Globe Gazette
DES MOINES — A state program designed to help Iowa recover from disasters in recent months will set aside more than $4.7 million in housing aid and more than $720,000 in help for small businesses in Cerro Gordo County and surrounding areas, Iowa ...

McCain must state obvious: Obama is a socialist (Commentary) - Globe Gazette
As John McCain tries to salvage his presidential campaign over the few weeks he has left, he ought to think about the Coca Cola Co. in 1985. That was the year that Coca Cola, based on what the company thought was good internal market research ...

November 2008 - Kansas City Star Blogs
This new $700 billion stimulus package could be broken into $14,000 no-interest loans to 50 million households to be used exclusively to pay down their household debt. This loan would be paid back from future tax refunds or Social Security benefits ...