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Today's Mortgage Terms starting with L

Lender:

The bank, mortgage company or mortgage broker providing the loan.

Loan Application:

A statement of personal and financial information needed to apply for a loan.

Loan Application Fee:

A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.

Loan Origination Fee:

Fee charged by a lender for the administrative costs of processing a loan.

Loan to Value Ratio (LTV):

The balance of the mortgage outstanding as a percentage of the home's price.

Lock or Lock In:

A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.

View all Terms
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Oregon loan officer pleads guilty to bank fraud - Argus Observer OnlinePORTLAND (AP) — A real estate loan officer who put together fraudulent mortgage deals has pleaded guilty to bank fraud, wire fraud and money laundering. Marty Ray Folwick, 50, of Portland is scheduled to be sentenced Dec. 8. Prosecutors recommend ...
Ends without Means - OregonianA few evenings ago, Editor David Reinhard interacted on his O blog with readers. Well, some readers. His interaction was much appreciated as he persistently asked for examples of Republican de-regulation that may have caused our economic crisis. I ...
Bailout Politics - OregonianThe Oregonian states that Blumenauer, Defazio, and Wyden will have to defend their position to vote against the bailout. Perhaps it is time for the Oregonian to defend their position. Why are we ignoring bush's record? The last time he urged ...
Paid plaintiff gets 3 months for kickback scheme - Ledger-EnquirerLOS ANGELES -- A man who was paid $2.5 million to be a plaintiff in a major lawsuit kickback scheme was sentenced Monday to three months in prison. Retired real estate mortgage broker Harold J. Vogel was sentenced by U.S. District Judge John Walter ...
Revised bailout plan set to pass - News.com.auSHELLSHOCKED leaders in Congress say they could pass a revised $US700 billion Wall Street bailout within days, after their first attempt failed. Top Democratic and Republican leaders consulted one another and Bush administration officials a day after ...
Stocks to struggle despite rescue plan - Reuters UKNEW YORK (Reuters) - Wall Street's mood will likely remain dark this week as fallout from the credit crisis continues to corrode the U.S. economy and questions linger about the likely effectiveness of the newly passed bailout plan in shoring up the ...
Fed May See Lending to Companies, States as Next Crisis Fronts - BloombergOct. 6 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month's downfall of Wall Street titans: its spread to corporate America and state and local governments ...
U.S. Stocks Decline, Dow Industrial Average Falls Below 10,000 - BloombergOct. 6 (Bloomberg) -- U.S. stocks dropped, driving the Dow Jones Industrial Average below 10,000 for the first time in four years, after bank bailouts in Europe widened and commodities companies tumbled on concern global growth is slowing. Equities ...
Portland loan officer pleads guilty to bank fraud, bad mortgages - NWCNPORTLAND - A real estate loan officer who put together fraudulent mortgage deals has pleaded guilty to bank fraud, wire fraud and money laundering. Marty Ray Folwick, 50, of Portland is scheduled to be sentenced Dec. 8. Prosecutors recommend more ...
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