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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Lamb mortgage rates news:

London warms to Islamic finance - Christian Science Monitor
London - Shabaz Bhatti is proud to be a devout Muslim – but his plans to remortgage the family home with one of Britain's new generation of Islamic banks isn't just about religion. The 30-something driving instructor wants reliability, and believes ...

The Paulson Plan: ‘Truly Idiotic’ - Wall Street Journal
Charles Calomiris is angry. Hank Paulson’s plan to save the economy? “Truly idiotic,” says Calomiris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University’s business school. “This whole thing has been complete ...

For Immigrants, a Ripple Effect - Washington Post
Instead of eating at an Ethiopian restaurant with his fellow cabbies, as was his habit, Ethiopian immigrant Abdulrezak Aboubaker now packs his lunch. (By Lois Raimondo -- The Washington Post) While the economy's tailspin is spreading pain across the ...

Open Thread - News Busters
For general discussion and debate. Possible talking point: Thanksgiving Eve. With the economy and stocks in the dumps, and socialism on the march, what are you thankful for, and what are you thinking on the Eve of the holiday season kicking off? Are ...

The Lame-Duck Economy - Common Dreams
Everyone’s talking about a new New Deal, for obvious reasons. In 2008, as in 1932, a long era of Republican political dominance came to an end in the face of an economic and financial crisis that, in voters’ minds, both discredited the G.O.P.’s ...

Weep for Woolies - bbc
The manner of Woolworth's demise as a going concern was almost as shocking as the fact of its collapse into administration. Although Woolworth had been one of the UK's weaker retailers for years - propped up by a decade of benign, debt-fuelled ...

Mortgage Woes Boost Credit Card Debt - US News and World Report
Danielle Mathias-Lamb, a second-year nursing student, received a letter from Bank of America in January with a shocking message: The credit card she used to pay for her tuition was going to jump to a 28 percent interest rate from 10 percent. More ...

Doubling Down - Wall Street Journal
As the housing bubble inflated, First National Bank of Arizona and First National Bank of Nevada pushed even deeper into home loans with high interest rates. Below is the percentage of loans and loan volume in each state that carried high interest ...

Massive mortgage squeeze - bbc
Net new mortgage lending is likely to fall to less than zero next year, according to a report commissioned by the Treasury from Sir James Crosby, the former chief executive of HBOS, owner of the Halifax. Sir James is warning that as homeowners are ...

Matthew Norman: Cameron can't afford mistakes. But nor can he play it ... - The Independent
£31bn wiped off blue chip shares Borrowing nearly doubles in a year Retailers slash prices to prop up sales It was our national pastime – but now shopping is just so over Shareholders approve RBS bail-out plan Iceland owes UK £2.2bn over Icesave ...