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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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Noble refinance mortgage news:
A real-estate investor shares his 5 secrets for success - MyCentralJersey.comEditor's note: Martin Sumichrast is an independent author who asked if he could submit the following article; the views herein are his and do not necessarily reflect the views of the Real Estate Editor, the Courier News, the Home News Tribune or ...
A False Fix for the Mortgage Crisis - The Washington Independent.comAs the government, housing advocates and banks like Citigroup and JPMorgan Chase struggle to streamline loan modifications and stave off foreclosures, one tactic keeps coming back to life as a sure-fire weapon: the 90-day mortgage moratorium. In ...
Socialism as Moral Hazard - American ThinkerI was taken aback the other day by a self-revelatory little piece by a college professor in the early years of her career. She has a doctorate, and things just aren't working out! I do hope for her sake that the name on the article is a pseudonym ...
Financial analysts study history as economic crisis mounts - Delaware OnlineWhen finance professor David Hartzell gives a talk about the nation's financial mess, the first thing he does is project a picture of his late father as a symbol of all that's changed in banking. N. Russell Hartzell Jr., who ran Wilmington Savings ...
What is the single most important ramification of the election? - Atlanta Journal ConstitutionBefore I tackle this week’s topic, I must first congratulate Barack Obama. Even the election of a man with whom I deeply disagree makes me proud to be an American. I will probably object to his policy priorities, but the ascendance of our first ...
Remember 2004? It ain’t over. - Atlanta Journal ConstitutionGo vote. As the polls were closing on election day four years ago, I sat with a group of George W. Bush campaign officials and supporters listening to reports of exit polls delivering the bad news. Bush was defeated. John Kerry had won the presidency ...
Just the Facts... - Safe HavenFor the week, the S&P500 dropped 8.3% (down 45.5% y-t-d), and the Dow fell 5.3% (down 39.3%). The Morgan Stanley Cyclical index was pounded for 11.9% (down 59.8%) and the Transports for 10.6% (down 31.7%). The Morgan Stanley Consumer index dropped 4 ...
So what's wrong with socialism? - Arizona Daily SunSo what's wrong with socialism? Our municipal water system in Flagstaff is socialism at work and working quite well. We'd certainly be better off if our gas and electrical systems were run by a government agency rather than corporate capitalists who ...
From Empire to Democracy - Common DreamsThis current financial crisis is a major way-station on the way to the collapse of the American empire. The first important sign was 9/11, with the most heavily-armed nation in the world shown to be vulnerable to a handful of hijackers. And now ...
The Boom Was a Bust for Ordinary People - Common DreamsI t begins to sound a bit naughty -- all this talk about the need to "stimulate" the economy, as if we were discussing how to make a porn film. I don't mean to trivialize our economic difficulties or the need for effective government intervention ...
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