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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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The latest
Mortgage News:
Steven Pearlstein - Washington PostWashington Post columnist Steven Pearlstein was online Wednesday, Nov. 12 at 11:00 a.m. ET to discuss the quickly unfolding recession and its impact on everything from automakers to retailers to Starbucks. About Pearlstein: Steven Pearlstein writes ...
High-Tech Team Helps Cheaters Pass Immigration Test - WiredTwo British residents were sentenced to jail last week for using an array of computers and wireless gear to feed answers to paying clients taking an immigration test in London, according to the Metropolitan Police. Rong Yang, 28, and her partner ...
Lynch wary credit crisis will affect NH - Nashua TelegraphState/New England Published: Wednesday, October 1, 2008 Lynch wary credit crisis will affect NH Governor wants Congress to act, says banks are sound By NORMA LOVE, The Associated Press CONCORD – Congress has the principles in place to start fixing ...
New Hampshire real estate transfers for Oct. 11 - Eagle-TribuneUnit 158 158 A and B North Shore Road, Jessica K. Krodel to National City Bank, $171,900 Unit 315R 315 Island Pond Road, Arthur K. Wicks to Alfred G. and Diane Jarrell, $112,000 Unit 317R 317 Island Pond Road, Meritage Mortgage Loan Trust to Colleen ...
TransUnion.com: National Auto Loan Delinquency Rates Increased ... - PR NewswireCHICAGO, Sept. 23 /PRNewswire/ -- TransUnion.com released today the results of its analysis of trends in the auto lending industry for the second quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses ...
Mass. globalization - Boston GlobeForeign banks could soon control nearly a third of all Massachusetts bank deposits, one of the highest ratios of any state. And that could lead to big changes. Overseas executives have hinted at major developments for their US operations including ...
AmEx approved to become bank holding company - SalonThe Federal Reserve on Monday granted AmEx's request to become a commercial bank, opening the door for the credit card giant to accept deposits and permanently access financing from the Fed. The Fed said it had approved the application for American ...
Getting a Loan Might Be a Struggle - US News and World ReportFour Loan Tips Look Twice at Loan Advice Why Perkins Loans Are Harder to Get This Year Student Loans Feel the Pinch Making It Easier to Fill Out College Financial Aid Forms Video: Surviving Student Loans Students needn't panic, however. Freshmen are ...
A transcript follows. - Washington PostAbout Pearlstein: Steven Pearlstein writes about business and the economy for The Washington Post. His journalism career includes editing roles at The Post and Inc. magazine. He was founding publisher and editor of The Boston Observer, a monthly ...
Budget shortfall at center of senate candidates' debate - Portsmouth HeraldPORTSMOUTH — New Hampshire’s budget deficit, retirement system and education funding sparked a lively debate Friday morning between Martha Fuller Clark and Christian Callahan, candidates for the District 24 state senate seat that represents ...
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