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Today's Mortgage Terms starting with C Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction. Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction. Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan. Collateral: Property pledged as security for a debt. Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive. Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits. Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature. Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period. Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action. Credit Bureau: It is a clearinghouse for credit history information. Credit Report: A report containing a detailed credit history of an individual. View all Terms

Charlotte home equity loans news:

Washington Mutual Lists $8 Billion Debt in Bankruptcy (Update1) - Bloomberg
Sept. 27 (Bloomberg) -- Washington Mutual Inc. , a holding company for the savings and loan that became the biggest U.S. bank to fail, listed more than $8 billion in debt in its bankruptcy filing in Wilmington, Delaware. WaMu, the 119-year-old ...

Goldman Net Drops 70% as Merger Advice, Trading Slow (Update4) - Bloomberg
Sept. 16 (Bloomberg) -- Goldman Sachs Group Inc. , the largest of the remaining independent U.S. securities firms, said third-quarter profit fell a record 70 percent as revenue from advising corporations and trading stocks declined. Net income was ...

B of A's Biggest Bet Ever: Big Risks, and Rewards - Barron's Online
LAST WEEK, WHEN ALMOST ALL FINANCIAL COMPANIES were playing defense, Bank of America CEO Ken Lewis went on the offense. After years of coveting the Thundering Herd, Bank of America purchased Merrill Lynch and its 16,690 retail brokers for $50 billion ...

Mortech Presented Prestigious Innovator of the Year Award at 2008 ... - MSN MoneyCentral
CHARLOTTE, N.C. , Sept. 17 /PRNewswire/ -- Mortech ( www.mortech-inc.com ) and its President Don Kracl were presented the 'Rick Stiegler Innovator of the Year' Award at the 2008 LendingTree Partner Summit. The prestigious award, named after ...

Rights groups faults Wachovia's mortgage aid - San Francisco Gate
Thursday, September 4, 2008 ACORN, an advocacy organization representing low-income communities, staged a rally at a Wachovia branch at Mission and First streets in San Francisco on Wednesday, with about 30 people calling on the bank to be more ...

Outside brokers make calls for bank - TradingMarkets.com
The use of brokers gives the Charlotte bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into traditional mortgages. Wachovia, which is wrestling with rising loan losses, in July ...

Bank of America Earns $1.21 Billion, or $0.23 per Share, in the First ... - PR Newswire
Adds $3.30 billion to loan loss reserve First-quarter trading losses, writedowns lower than fourth quarter Equity investment gains of $776 million from the Visa IPO Deposit growth accelerates Commercial lending strength continues CHARLOTTE, N.C ...

Bank of America Earns $15 Billion, or $3.30 Per Share, in 2007 - PR Newswire
CHARLOTTE, N.C., Jan. 22 /PRNewswire-FirstCall/ -- Bank of America Corporation today reported full-year 2007 net income declined 29 percent to $14.98 billion from $21.13 billion a year earlier. Diluted earnings per share fell 28 percent to $3.30 from ...

Lenders raise bar for some borrowers - Raleigh News & Observer
Stated income loans: W2 forms, pay stubs, tax returns and Internal Revenue forms are not required. 80/20 option loan: The first mortgage is provided for 80 percent of the cost of the home, and the piggyback second mortgage is for the remaining 20 ...

Credit Crunch Cash Kings - CNBC
According to a report released by the US Department of Labor, jobless rates were up in 47 states. Click ahead to see how your state ranks. "These results clearly did not meet our expectations," Chief Executive Kenneth Lewis said. "The weakness in the ...