Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms

Clay mortgage loans news:

The Madness of Crowds - Commentary Magazine
Fueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began ...

Affordable Housing in Connecticut Gets $1.8 Million Infusion - Earthtimes
BOSTON , Nov. 26 /PRNewswire/ -- The Federal Home Loan Bank of Boston (the Bank) awarded more than $1.8 million as grants and a subsidized loan to fund 33 units of affordable rental and ownership housing in three communities. Of that amount, more ...

Technically Incorrect - CNET News
You know it's going to be really bad when the man who first r evealed that the world is flat , Thomas Friedman of The New York Times , says it's going to be really bad . Here's how bad it is: Russians are drinking less vodka . So, as you gird your ...

Barclays Abu Dhabi Bailout Incites Shareholders (Update2) - Bloomberg
Nov. 24 (Bloomberg) -- On Oct. 8, the day British Prime Minister Gordon Brown announced his 50-billion pound bailout of the U.K.’s banks, a delegation of executives from Barclays Plc ’s wealth management division sat down with some of their ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

November 2008 - Posts - MSNBC Firstread
Senate candidate Al Franken will not appeal a decision by the Minnesota State Canvassing Board, which today rejected the Democrat's request that rejected absentee ballots be included in the race's hotly contested recount. The canvassing board's ...

Who Crossed the Line on the Street? - BusinessWeek
By Mara Der Hovanesian Federal and state investigators, eager to show the world that they're on the case, are sifting through Wall Street's debris looking for evidence of wrongdoing. What they know is that big banks created toxic mortgages and ...

Thornburg Mortgage, Inc. Q3 2008 Earnings Call Transcript - Seekingalpha.com
Ladies and gentlemen thank you for standing by. Welcome to the Thornburg Mortgage third quarter earnings conference call. Certain matters discussed in this conference call may constitute forward-looking statements within the meaning of the federal ...

Thornburg Mortgage, Inc. The Wall Street Analyst Call Transcript - Seekingalpha.com
Thornburg Mortgage, Inc. (TMA) The Wall Street Analyst Forum November 17, 2008 9:50 am ET Executives Clay Simmons - Chief Financial Officer Presentation Moderator Good morning, ladies and gentlemen. In our ongoing attempt to adhere to the published ...

Speculators, Politicians and Financial Disasters - Wall Street Journal
Fueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began ...