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Today's Mortgage Terms starting with C

Cash To Close:

Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.

Closing:

The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.

Closing Costs:

Fees generally paid by the borrower in relation to the closing of a mortgage loan.

Collateral:

Property pledged as security for a debt.

Conforming Loan:

Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.

Conventional Loan:

Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.

Conversion Clause:

A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.

Convertible ARM:

A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.

Covenant:

A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.

Credit Bureau:

It is a clearinghouse for credit history information.

Credit Report:

A report containing a detailed credit history of an individual.

View all Terms
Stanton mortgage loan news:
Financial News
U.S. Stocks Gyrate as GM Falls, Wal-Mart Spurs Retailer Rally - Bloomberg
By Elizabeth Stanton Dec. 4 (Bloomberg) -- U.S. stocks swung between gains and losses as General Motors Corp. dropped on concern it may file for bankruptcy and Wal-Mart Stores Inc. pushed retailers higher after reporting more-than-estimated sales ...

U.S. Stocks Rise, Led by Banks, Retailers; Amazon.com Jumps - Bloomberg
Dec. 3 (Bloomberg) -- U.S. stocks rose for a second day as a jump in online spending and a record increase in mortgage applications lifted retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities. Amazon ...

Erie County Real Estate Transactions - Buffalo News
• 63 Fairlawn Drive, Edmund Karnofsky to Squire Shop Inc., $348,700. • 92 South Rockingham Way, GMAC Mortgage Llc to John F. Marcolini; Angela J. Marcolini, $340,000. • 248 Running Brook Lane, Drew A. Gundlach; Sandra L. Gundlach to Robert M ...

Home prices to slide, not crash: economist - Globe and Mail
After more than twelve years of rising real-estate values in [Toronto] prices dropped in August by 1%...September figures, released yesterday, were even worse, with prices falling 6%. The report also noted that prices in the GTA fell more than 3 ...

U.S. Stocks Post Biggest Post-Election Drop on Economic Concern - Bloomberg
Nov. 5 (Bloomberg) -- The stock market posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern the economy will worsen even as President-elect Barack Obama tries to stimulate growth ...

U.S. Stocks Drop on Earnings; Texas Instruments, Freeport Fall - Bloomberg
U.S. Stocks Drop on Earnings; Texas Instruments, Freeport Fall By Elizabeth Stanton Oct. 21 (Bloomberg) -- U.S. stocks slid as companies from Texas Instruments Inc. to Freeport-McMoRan Copper & Gold Inc. reported profit and revenue that failed to ...

Monroeville business owner from Derry allegedly flees - Pittsburgh Tribune Review
The FBI has seized the financial records of a defunct Monroeville investment firm owned by a missing man who allegedly bilked investors out of millions of dollars. Frank Guzik Jr., 39, a Derry resident who operated East Haven Development until he ...

Foreclosures blanket O.C. - Orange County Register
Despite a return of buyer demand to the housing market, banks seized three times as many homes from delinquent borrowers in the third quarter than they did for the same period a year earlier. Banks foreclosed on 3,997 houses and condos, which was ...

Nonperforming assets rise sharply at institutions here as quarterly ... - Spokane Journal of Business
Third-quarter earnings reports from Inland Northwest banks are providing insights into the region’s economy. One of the most-watched numbers in bank earnings reports for the third quarter, which ended Sept. 30, will be nonperforming assets—and ...

Citigroup to eliminate 53,000 jobs - Delaware Online
Delaware's financial services sector braced for more potential bad news from the economic slowdown Monday after Citigroup announced it was trimming 53,000 jobs from its work force. The reductions, disclosed at a meeting with employees in New York ...

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