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Today's Mortgage Terms starting with D Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan. Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan. Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate. Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price. View all Terms

Stearns mortgage rates news:

Greenspan: Fed Is Not A Magic "Piggy Bank" - CBS News
(AP) Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country's economic and financial ...

U.S. Near Deal on Fannie, Freddie - Wall Street Journal
WASHINGTON -- The Treasury Department is putting the finishing touches to a plan designed to shore up Fannie Mae and Freddie Mac , according to people familiar with the matter, a move that would essentially result in a government takeover of the ...

Volcker Says Finance System `Broken,' Losses May Rise (Update2) - Bloomberg
Sept. 5 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker said the U.S. financial system, dependent upon securitization rather than traditional bank loans, is broken, and may contribute to the weakest expansion since the 1930s. ``This ...

Fed not ‘magical piggy bank,' Greenspan says - Globe and Mail
WASHINGTON — Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on U.S. economic and financial ...

Fannie, Freddie backstop rumored; could trigger rally - Kansas City Star
Wall Street may be poised for a rally Monday as rumors swirled Friday about a possible weekend rescue plan for troubled mortgage finance titans Fannie Mae and Freddie Mac. For the past several weeks, the Treasury Department, the Federal Reserve and ...

Big Three bailout may be around corner - CNN Money
NEW YORK (CNNMoney.com) -- Plunging auto sales, high gas prices and election year politics could help convince Congress to approve a $50 billion loan package to embattled U.S. automakers that Detroit's Big Three claim is key to their future success ...

Some say Fannie Mae, Freddie Mac to be hoisted up by Treasury ... - Dallas Morning News
WASHINGTON – The Treasury Department is putting the finishing touches on a plan to help shore up mortgage giants Fannie Mae and Freddie Mac, according to people familiar with the matter. Such a move would essentially amount to a government takeover ...

ANALYSIS-Market turmoil adds hurdle to KDB-Lehman deal - Forbes
HONG KONG/SEOUL, Sept 5 (Reuters) - A wave of financial market turmoil that crashed into South Korea this week has made any deal between Korea Development Bank (KDB) and Lehman Brothers (nyse: LEH - news - people ) all the more difficult to pull off ...

Risk and Systemic Risk - American Enterprise Institute
Speaking on August 22 at the Federal Reserve Bank of Kansas City's Annual Economic Symposium in Jackson Hole, Wyoming, Federal Reserve chairman Ben Bernanke entitled his important address "Reducing Systemic Risk." Bernanke outlined three key elements ...

World woes are hitting home - Independent
Share THE international credit crunch has given us a whole new bunch of iconic names to think about. Who would have thought that organisations with comical names like Fannie Mae and Freddie Mac would enter our lives? Who had heard of Bear Stearns ...