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.

View all Terms

Chester mortgage rates news:

Sanlam share sheds 4% on poor profit news - Business Day South Africa
SHARES in Sanlam, the biggest insurance company based in SA, immediately shed almost 4% when the company said in an operational update yesterday that normalised headline earnings per share were down 86% over the 10 months to October. Sanlam CEO Johan ...

Hooray For Deflation And Credit Contraction! - The Bulletin
Do we want the current financial crisis to be over as quickly as possible with as little further economic damage as possible? Of course we do. Then we should not attempt to prevent deflation and credit contraction. Inflation of the money supply and ...

On the House: Historical perspective on market - Philadelphia Daily News
We're closing in on the end of what has been a tough year for real estate nationally, and the numbers could get worse between now and Dec. 31. In this region, it's been hard, but maybe not so bad when compared with the mid-1990s. Back then, the ...

Leading firms announce more than 2,000 job cuts - Guardian Unlimited
Shares in London suffered another torrid day as leading companies announced more than 2,000 job cuts and figures showed that the country's manufacturing output and orders had fallen to a record low. The FTSE 100 shed 5.2% of its value to close down ...

From Sunday: Home prices drop 7% in Morris - Morris County Daily Record
The average price of a home in Morris County dipped back below a half million dollars in the first half of the year, according to a new data analysis that found the Morris housing market faring slightly worse than the rest of New Jersey. A Gannett ...

Real-Time News - Newark Star-Ledger
• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game They met as teenagers, finding a common bond ...

Chancellor clarifies "misunderstanding" over mortgage plans - Times Online
The Chancellor and Treasury have sought to clarify proposals calling for HBOS, Lloyds TSB and Royal Bank of Scotland (RBS) to resume lending to homeowners and small businesses "at 2007 levels". In the House of Commons today the Alistair Darling said ...

On the House: Housing here is healthier - Philadelphia Daily News
For the first time since 1996, I did not attend the annual meeting of the National Association of Realtors, which took place earlier this month. The reasons: I've developed a deep hatred of flying - not the being-in-the-air part, but the security ...

Britain faces crisis as negative equity to reach 2 million - Times Online
Collapsing house prices are plunging 60,000 homeowners a month into negative equity, which means the country is on course for a worse crisis than the 1990s crash. At current trends, 2m households will enter negative equity by 2010, outstripping the 1 ...

U.S. New-Home Sales Unexpectedly Rise as Prices Drop (Update1) - Bloomberg
Oct. 27 (Bloomberg) -- Sales of new houses in the U.S. unexpectedly rose in September from a 17-year low, propelled by a drop in prices ahead of the latest turmoil in financial markets. Purchases increased 2.7 percent to an annual rate of 464,000 ...