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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

Stephens mortgage loan news:

Business Highlights - MSN MoneyCentral
NEW YORK (AP) — Wall Street put a stop to a terrifying decline and stormed higher Friday as President-elect Barack Obama appeared ready to tap the chief of the New York Federal Reserve as the next treasury secretary and hand him the herculean task ...

Stephens sees opportunities - Arkansas Times
Arkansas Business has a report on a memo Warren Stephens circulated in the Stephens financial empire today. They are cool in the current financial meltdown, thanks to modest leveraging of assets and heavy investment in conservative securities. He ...

American ambitions, American heartaches - Winchester Star
Nitza Clas of Stephens City speaks with a store clerk at Mercado La Buena on Baker Street in Winchester. As a co-pastor of Iglesia Puertas Delas Aguas, a church near Stephens City, Clas has seen many members of her congregation lose their homes ...

Housing sales see worst slide here on record - Houston Chronicle
The impact of Hurricane Ike rippled through the area's housing market last month, triggering the steepest decline in home sales on record. Sales of single-family homes plunged 30 percent in September, a month also plagued by a growing worldwide ...

Local banks say they have the money to support loans - Blueridgenow.com
Despite the financial turmoil making headlines, executives at local banks say they have money to provide consumer, residential and mortgage loans. “People don’t realize that community banks are still making loans,” said John Myer, senior vice ...

Whistling past the graveyard UPDATE - Arkansas Times
A Stephens Media article today quotes a variety of people who see little fallout from yesterday's Wall Street debacle in Arkansas. Stephens Inc. is apparently sound, yes. But if the commenters think every bank operating in Arkansas is in blue-ribbon ...

Simmons First National Corporation Q3 2008 Earnings Call Transcript - Seekingalpha.com
Welcome everyone to the Simmons First National third quarter earnings call. (Operator Instructions) Mr. Garner you may begin your call. David W. Garner I am David Garner, Investor Relations Officer of Simmons First National Corporation. We want to ...

Stock & fund quotes - ninemsn
The Reserve Bank of Australia (RBA) has delivered a pre-Christmas bonus to homeowners with a 75 basis point cut in official interest rates. The cut, which was bigger than expected, takes the cash interest rate to 5.25 percent, and will shave around ...

Thousands of NOPEC electric customers may see increased rates - Cleveland Plain Dealer
Tens of thousands of Northeast Ohio residents probably will see their electric bills jump by as much as $12 per month the first of the year. And that's before FirstEnergy Corp.'s new rate plan is approved. About 400,000 FirstEnergy customers have ...

Workshop tackles foreclosure Nonprofit offers free, four-hour seminar ... - Las Vegas Review Journal
Trish, a Henderson woman who faces the prospect of losing her home to foreclosure, takes part in Olive Crest's Saturday workshop on surviving foreclosure. Olive Crest, a local nonprofit agency that focuses on family preservation, asked that ...