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.

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Union mortgage rates news:

30-year mortgages dip to 6.35 percent - Baltimore Sun
WASHINGTON Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac , the mortgage company, reported yesterday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from 6 ...

Credit Union Australia cuts variable rates - News.com.au
CREDIT Union Australia will cut its standard variable mortgage rate by 0.25 per cent from Monday, following the big banks' decision to pass on the rate cuts. Australia's largest credit union says it will lower its standard variable rate for home ...

Call for higher tax for super rich - Guardian Unlimited
High earners on more than £100,000 a year should pay higher tax rates to help achieve greater equality between the rich and poor, the TUC has urged. The union organisation said its research showed that an increase in the number of super rich had ...

Key economic reports may be movers this week - Boston Globe
The Federal Reserve releases consumer credit for July. It's expected to have tightened to $8.6 billion, from $14.3 billion previously. Federal court hearing on Smithfield Foods Inc. 's racketeering lawsuit against a union seeking to organize workers ...

How to determine your bank's financial health - Los Angeles Times
More people have been asking that question since the collapse of Pasadena mortgage giant IndyMac Bank in July. After the government took over the bank, many customers had to wait in line for hours before they could speak to anyone about their ...

Delta-NWA Merger Is Closer; Mortgage Rates - WXIA 11 Alive
In Monday's consumer and money headlines, Delta and NWA are even closer to a merger, and this week's mortgage rates. With record foreclosures and a record 9 percent of mortgage holders either behind in payments or entering foreclosure, troubles are ...

Upcoming business events and economic reports - CNBC
MONDAY, Sept. 8 WASHINGTON — Federal Reserve releases consumer credit for July, 3 p.m. Weekly Treasury auction. RICHMOND, Va. — Federal court hearing on Smithfield Foods Inc.'s racketeering lawsuit against a union seeking to organize workers at a ...

Foreclosure rate in county below average, but still stings - Bridgeton News
As the economy continues to falter, with some experts predicting a recession on the horizon, more homeowners for a variety of reasons are finding themselves on the verge of losing their homes to a bank foreclosure. "If you miss one paycheck for ...

20,000 students to benefit from more college credit - Chicago Sun-Times
• • Range from $3,500 to $20,500. • • Carry an interest rate of 6.8 percent or lower, compared with rates of up to 18 percent for private loans. • • Be backed by the federal government. Despite the current nationwide credit crunch, the ...

Treasuries Advance as Economy Sheds Jobs for 8th Straight Month - Bloomberg
Sept. 5 (Bloomberg) -- Treasuries rose, with 10-year notes headed for the biggest weekly gain since February, after a government report showed the economy lost jobs in August for the eighth consecutive month, increasing expectations that the Federal ...