Today's Mortgage Terms starting with L

Lender:

The bank, mortgage company or mortgage broker providing the loan.

Loan Application:

A statement of personal and financial information needed to apply for a loan.

Loan Application Fee:

A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.

Loan Origination Fee:

Fee charged by a lender for the administrative costs of processing a loan.

Loan to Value Ratio (LTV):

The balance of the mortgage outstanding as a percentage of the home's price.

Lock or Lock In:

A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.

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Henry home equity loans news:

Treasury's Paulson Says New Initiatives to Assist Housing, Lending - Economicnews
(CEP News) - Treasury Secretary Henry Paulson said that additional measures announced by the Federal Reserve and Treasury Tuesday morning are aimed at aiding the U.S. housing market and restoring affordable bank lending to consumers and small ...

The Fed's Buying Spree - Forbes
The Federal Reserve announced on Tuesday it will purchase up to $100.0 billion in direct obligations from mortgage giants Fannie Mae and Freddie Mac, as well as the Federal Home Loan Banks, in order to lower costs and increase financing for ...

Street Shrugs At Fed Rescue - Forbes
U.S. stocks make nominal gains after the Fed pledges to purchase mortgage-backed securities and as data shows home prices tumbled. The Federal Reserve is racing to save the housing sector before its problems bubble over even more into the larger ...

Paulson Bucks Paulson as His Hedge Funds Score $1 Billion Gain - Bloomberg
Dec. 2 (Bloomberg) -- There’s not a lot of light in Paulson & Co.’s 28th-floor headquarters on a drizzly November afternoon. The Alexander Calder sculpture and multicolored prints have been shipped to the firm’s new offices six blocks south ...

Year of the bailouts: It's all about timing - CNN Money
NEW YORK (CNNMoney.com) -- Now the clock is really ticking for Henry Paulson. The Treasury secretary has just $20 billion of unallocated money from the $350 billion Congress put under his charge for the financial bailout package. With Paulson hinting ...

Feedback Blog - Reading Eagle
At odds over the 2009 budget, City Council and Mayor Tom McMahon are setting up for a possible repeat of December 2000, when an impasse between the administration and council led to a months-long fight in Berks County Court. Former Mayor Joseph D ...

A college football playoff system will cause big problems - ESPN.com
The NCAA continues to insist that two perfectly good names, Division I-A and Division I-AA, be changed to the Football Bowl Subdivision and the Football Championship Subdivision. TMQ proposes changing them to the Football at Variance with President ...

Restoring the flow of credit to entrepreneurs - Los Angeles Times
The credit crunch looks like an espresso machine. At least it does to Michael McDonald, who is trying to open a coffee shop near UC Santa Barbara next month but just heard that his funding had evaporated for an equipment leasing deal. McDonald needs ...

'Predatory' credit card lending targeted - United Press International
WASHINGTON, Nov. 28 (UPI) -- Curbs on predatory credit card lending could be part of the deal for banks accepting low-rate U.S. Treasury loans to prop up their portfolios, analysts say. Treasury Henry Paulson Jr. announced this week that the ...

The Paulson Plan: ‘Truly Idiotic’ - Wall Street Journal
Charles Calomiris is angry. Hank Paulson’s plan to save the economy? “Truly idiotic,” says Calomiris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University’s business school. “This whole thing has been complete ...