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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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El Paso mortgage rates news:

County could - Blueridgenow.com
To The Editor: The county decreed that Kim Kappler must pay boarding costs capped at $14,000, release costs of $147, and medical costs of $435.74. In coming to this decision, did the county consider all of the money she saved them over the years by ...

Their dreams shattered, investors left to wonder - Las Vegas Sun
When Luis Rojas cashed in his $52,000 pension fund annuity in 2005, he thought he had found the perfect investment that would allow him and his wife to lead comfortable lives in retirement. The 68-year-old former waiter poured his pension into HSLV ...

Stocks Under $10 Weekly Summary - Street.Com
The S&P 500 surged 20% in the past five trading days after the Federal Reserve added another $800 billion to its bailout package, President-elect Barack Obama announced his economic cabinet and the Treasury backstopped Citigroup (C:NYSE) as its stock ...

Housing aid sought as prices fall - El Paso Times
WASHINGTON -- With nationwide sales of existing homes falling more than expected last month and the median sales price plunging to $183,000, the U.S. housing market keeps getting worse. With more bad news likely on the way, industry groups pressed ...

'Hope for Homeowners' may get lender incentive - El Paso Times
WASHINGTON -- The government may let more borrowers qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more-affordable ones, a top Bush administration official said Wednesday. The program, included in a ...

El Paso Electric Q3 2008 Earnings Call Transcript - Seekingalpha.com
Good afternoon and thank you for tuning in to the El Paso Electric Company’s Third Quarter of 2008 Earnings Conference Call. As Mathew mentioned I am Steve Busser, I am the Treasurer and Chief Risk Officer here at the company. Also on the call with ...

El Paso Corp. Q3 2008 Earnings Call Transcript - Seekingalpha.com
Good morning. My name is Ann, and I will be your conference operator today. At this time I would like to welcome everyone to the El Paso Corporation Third Quarter 2008 Earnings Conference Call. All lines have been placed on mute to prevent any ...

Building permits continue to slide - Colorado Springs Gazette
Homebuilding remained in a deep slump last month in the Colorado Springs area. Foreclosures, meanwhile, showed no signs of slowing, although it appears lenders are trying to work out deals to keep owners in their homes. Single-family building permits ...

The Week Ahead: High Velocity (update) - CNBC
Like a power saw in overdrive, stocks will again cut a pattern of high velocity moves higher and lower in the coming week as investors look to see whether the Fed will hold out a hand to soothe the credit angst in financial markets. Don't look for ...

Republicans spent $150,000 on Sarah Palin's clothes - Times Online
The Republican Party has spent $150,000 in upmarket designer stores on dressing Sarah Palin for the part of vice-president. During September, more than $75,000 was spent in a single shopping spree at Neiman Marcus in Minneapolis, and another $9,500 ...