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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
Davison mortgage loan news:
Financial News
Oxford Bank Corporation Announces Third Quarter Operating Results for ... - MSN MoneyCentral
OXFORD, Mich. , Nov. 24 /PRNewswire-FirstCall/ -- Oxford Bank Corporation (OTC Bulletin Board: OXBC), the holding company for Oxford Bank, today announced total operating results for the third quarter and first nine months of 2008. In the third ...

Reverse mortgages as a way forward - Cape Cod Times
Reverse mortgage tips Make sure your potential lender is approved by the state Division of Banks. A list of approved lenders is available at www.mass.gov/reversemortgage. Involve trusted advisors - family members, legal counsel, clergy - in your ...

Oxford Bank Announces Two Officer Appointments - Yahoo Finance
OXFORD, Mich., Sept. 8 /PRNewswire-FirstCall/ -- Oxford Bank, a subsidiary of Oxford Bank Corporation (OTC Bulletin Board: OXBC - News ), announced today the hiring of Mark D. Thorpe as an assistant vice president and mortgage loan officer and the ...

Banks play hard to get as forced sales soar - Stuff
The number of forced sales of unsold and unfinished projects has taken a leap this month, boosting mortgagee listings to record levels on property sales websites. Interest.co.nz managing editor Bernard Hickey has been tracking the listings and said ...

Buying foreclosed home can -- sometimes -- make best of bad situation - MLive.com
Ryan Garza | The Flint Journal "The money I make on this house down the road will make up for the stock market losses I've taken on the other side," said Robert Prusinski, who is buying a foreclosed Flint Twp. home owned by the U.S. Department of ...

Latest Winning Numbers - MLive.com
• CEOs sign on to speak at national summit in '09 11/24/2008, 12:01 a.m. EST CALEDONIA TOWNSHIP, Michigan -- Police believe the estranged husband of Lavern E. Daniels II's girlfriend stabbed him after a confrontation late Sunday night. The stabbing ...

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