Today's Mortgage Terms starting with D

Default:

Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.

Discounted Loan:

When the note rate on a loan is lower than the market rate, it is a discounted loan.

Discount Point:

A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.

Down Payment:

The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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Wells mortgage loan news:

TREASURIES-Bonds mostly ease as investors wary of low yields - Reuters
NEW YORK, Dec 4 (Reuters) - U.S. Treasuries mostly eased on Thursday as investors balked at buying government debt after a recent price surge that pushed yields to the lowest in over 50 years. Losses were limited however by data showing the U.S ...

Action taken against lender over foreclosure - Chicago Defender
A Chicago housing non-profit organization and community residents protested Thursday outside Wells Fargo Bank in an effort to help a homeowner facing foreclosure by year-end. Action Now marched outside the financial institution’s branch at 511 W ...

Fitch Updates Wachovia Bank's Resi Servicer Ratings; Remains on Rating ... - PR Inside
--The primary servicer rating for prime product updated at 'RPS2'; --The primary servicer rating for home equity/home equity line of credit (HE/HELOC) product updated at 'RPS2'. The ratings also remain on Rating Watch Evolving. Fitch's recently ...

Senator lambasts ‘subprime Scrooge’ - Financial Times
US Bancorp, a regional bank with a market capitalisation greater than Citigroup’s, was accused on Thursday of being a “subprime Scrooge” for its role in the housing crisis. Jeffrey Klein, New York state senator, criticised the bank and nine ...

Wells Fargo Disputes State of Washingtonâ€™s Claims - PR Inside
Wells Fargo & Company (NYSE:WFC) said today it disputes the claims made by the Washington State Department of Financial Institutions (DFI) against the Company for its participation in the auction rate securities (ARS) market, and that it intends to ...

Wells Fargo Disputes State of Washington's Claims - CNBC
SAN FRANCISCO, Dec 03, 2008 (BUSINESS WIRE) -- Wells Fargo & Company (NYSE:WFC) said today it disputes the claims made by the Washington State Department of Financial Institutions (DFI) against the Company for its participation in the auction rate ...

Mortgage rate drop sparks surge in consumer interest - San Jose Mercury News
Borrowers descended on the home loan industry Wednesday after the federal government's latest move to shore up the financial system sparked a sharp drop in interest rates. Valley brokers said business picked up immediately as rates dropped from 6 ...

Wells Fargo hires three lenders - Statesman Journal
SALEM — Carmen Babb, Alan Day and Sheila Freeland have been hired as lenders at Wells Fargo Home Mortgage at 580 State St. in Salem. Babb, a Salem native, worked as a mortgage consultant at Silver Falls Mortgage and Willamette Valley Bank for the ...

A Rush Into Refinancing as Mortgage Rates Fall - The Ledger
The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Click to enlarge Low rates enticed Javier and Irina Lattanzio to refinance ...

Fla. called No. 1 in mortgage fraud - St. Petersburg Times
TAMPA — A national report released Tuesday said Florida leads the nation in mortgage fraud. Within the state, Tampa is second in the amount of suspicious loan activity. As the report was being released, a federal jury in Broward County was ...