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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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Foster mortgage loans news:
Treasury weighs action on mortgage rates - MSNBCThe Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal. Under the initiative ...
Ben Bernanke At the Federal Reserve System Conference on Housing and ... - StreetInsider.comDecember 4, 2008 11:18 AM EST Housing, Mortgage Markets, and Foreclosures The U.S. financial system has been in turmoil during the past 16 months. Credit conditions have tightened and asset values have declined, contributing substantially, in turn ...
Meltdown far from over, new mortgage crisis looms - KTIVSOUTH SIOUX CITY, Neb. (KTIV) - Members of the Native American community march from Nebraska to Iowa, hoping every step brings Native American children closer to a home with Native American foster parents.
Treasury Eyes Plans to Lower Mortgage Rates - Washington PostThe Treasury Department is considering plans being pushed by trade groups to intervene directly into the mortgage market to dramatically force down rates and stimulate the moribund housing market, according to idustry sources familiar wih the matter ...
U.S. Treasury May Lower Mortgage Rates - Free Internet PressThe Treasury Department is considering plans being pushed by trade groups to intervene directly into the mortgage market to dramatically force down rates and stimulate the moribund housing market, according to industry sources familiar with the ...
Borrowers get gift of lower mortgage rates - Seattle Post IntelligencerMortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans. Rates on 30-year, fixed-rate, conforming mortgages fell well below 6 percent after the Fed announced Tuesday morning that it ...
4.5 percent mortgage: Will it work? - Philadelphia InquirerRealtors, builders, and even the federal government have tried everything from giveaways to incentives to tax credits to get home sales back on track - all with scant results. The newest suggestion - 4.5 percent fixed-interest rates for home loans ...
U.S. MBA’s Mortgage Applications More Than Doubled Last Week - Daily Business Reviewortgage applications in the U.S. surged by a record last week as lending rates plunged after the Federal Reserve pledged to buy mortgage-backed debt. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan ...
Ladera Ranch loses luster in mortgage crisis - Orange County RegisterMortgage brokers and real estate agents know a good deal when they see it. Many Realtors flocked to Ladera Ranch five to eight years ago, when it was Orange County's newest community. As the housing market has dived, so, too, has Ladera's luster. Its ...
Money $marts: That’s a lot of zeros - Naples Daily NewsA politician, speaking about government spending, once facetiously remarked, “Add a few more zeros and pretty soon we’re talking real money.” Well, we’re talking real money now. It’s not billions any more; it’s trillions. That’s 12 ...
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