Today's Mortgage Terms starting with S

Second Mortgage:

An additional mortgage that has rights that are secondary to the first mortgage.

Seller’s Market:

Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.

Settlement Costs:

Money paid by the borrowers and sellers to complete the closing of a mortgage.

Settlement Cost (HUD Guide):

HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.

View all Terms

Lewis mortgage loans news:

Michael Lewis on the Hedge Fund Manager Who Saw It Coming - Motley Fool
How did hedge fund manager Steve Eisman win big off the market meltdown? What will Wall Street look like in five years? In this third and final part of our interview, I put those questions to Liar's Poker author Michael Lewis, editor of the new ...

Want a mortgage? Rates fell sharply Tuesday - Detroit Free Press
A sharp plunge in U.S. mortgage rates Tuesday gave lenders and home buyers a lot to be thankful for — and spurred the biggest loan application day in Livonia-based Quicken Loans’ history. U.S. mortgage rates dropped Tuesday to 5.5% on average for ...

UPDATE 1-RBC pays $11 mln to settle US mortgage fraud probe - Reuters
NEW YORK, Nov 25 (Reuters) - A Royal Bank of Canada (RY.TO: Quote , Profile , Research , Stock Buzz ) mortgage unit will pay $10.98 million to settle charges it gave the U.S. government false information about borrowers who took out 219 home loans ...

Fed debt plan shaves nearly 1 point off mortgage rates - Houston Chronicle
U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. The average rate for a 30-year fixed mortgage fell ...

U.S. Mortgage Rates Drop Most in Seven Years on Fed Debt Plan - Bloomberg
Nov. 26 (Bloomberg) -- U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. The average rate for a 30 ...

Mortgage Rates Tumble on Fed Debt Purchasing Plan (Update1) - Bloomberg
Nov. 26 (Bloomberg) -- U.S. mortgage rates plunged by the most in at least seven years yesterday as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. The average rate ...

House values decline again - Seattle Post Intelligencer
Values in King, Pierce and Snohomish counties decreased 9.8 percent from September 2007 and 1.4 percent from this August, according to Standard & Poor's S&P/Case-Shiller Home Price Indices. The year-to-year drop was the eighth consecutive record for ...

Family seeks answers, aid months after flood - Beacon News
PLANO -- So many people have told the Lewis family to just give up and start all over again. But to Brian and Angie Lewis and their seven children, starting over begins when they get their home back. Two months ago, the heavy rains that socked the ...

Community banks on shaky ground - Portland Tribune
Certified as a community development bank, Albina Community Bank has access to special federal funds that target low-income communities enabling it to make loans for projects such as the Mississippi Avenue Lofts in North Portland. Albina CEO Bob ...

New Orleans home-loan program builds slowly - New Orleans Times-Picayune
After months of dickering and false starts, the centerpiece in New Orleans' strategy of clustering people in viable neighborhoods is finally off the ground with forgivable loans for first-time homebuyers. A handful of low- to moderate-income families ...