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Today's Mortgage Terms starting with J

Jumbo Loan:

A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.

Junior Mortgage:

A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.

View all Terms
Spokane mortgage loan news:
Financial News
Mortgage system crumbled while regulators jousted - Seattle Post Intelligencer
When state investigators spotted questionable loan practices, the feds rejected their help and informed the state that it had no business looking into the affairs of federally chartered institutions. Scott Jarvis, director of the Washington state ...

Big Kellogg car dealership says lending unit’s addition unrelated to ... - Spokane Journal of Business
Dave Smith Motors, the high-volume motor-vehicle dealership based in Kellogg, Idaho, has added home mortgages to its product mix. The dealership has created a new department called Dave Smith Home Loans, which is operating in a 600-square-foot office ...

Press May Own a Share in Financial Mess - Washington Post
Charlie Gasparino was so anxious to get on the air that he phoned in to CNBC , rather than walking to the studio, to report that nervous federal authorities were considering a bailout of the insurance giant AIG . "I was sweating through my underwear ...

Spin Control 2.0 - Spokane Spokesman-Review
John McCain and Sarah Palin talk to voters in Bethlehem, Pa., and Strongville, Ohio. Barack Obama campaigns in Indianapolis. Joe Biden stops in the Florida cities of Tampa and Fort Myers. Dino Rossi attends the Washington Association of County ...

Timeline | Washington Mutual: A long history - Seattle Times
1889: Washington National Building Loan and Investment Association is founded after fire destroys much of Seattle's core. The following year it makes the first monthly installment home loan on the Pacific Coast, lending $700 to build a house in ...

Washington Mutual: A long history - Seattle Times
1995: U.S. Supreme Court decision allows banks to sell annuities, a form of insurance. 1996: U.S. Supreme Court decision allows banks to sell insurance nationwide. 1999: Prompted by Citigroup's merger with Travelers Insurance Group, the Gramm-Leach ...

Anxiety rises as the era of easy credit comes to an abrupt end - USA Today
That's been marked by the shuddering collapse of investment bank Lehman Bros., the sale of Merrill Lynch to Bank of America, the federal government's $30 billion loan to foster the sale of investment bank Bear Stearns, its $200 billion injection to ...

At the corner of crisis and Main Street - Globe and Mail
BELLINGHAM, WASH., TORONTO — Washington Mutual is a bank but its branches, as it advertises, are not like other banks'. They're open, bright and airy, welcoming clients with: “Every day is customer appreciation day.” Instead of an imposing line ...

Kendall Yards: Draft development agreement in, months later - Spokane Spokesman-Review
Readers often ask what's next for the 78-acre mixed-use development Kendall Yards on the north bank of the Spokane River near downtown Spokane. Black Rock Development has submitted a revised development agreement to the city - a contract spelling out ...

Washington Federal comes up short in fourth quarter - Seattle Post Intelligencer
Washington Federal Inc. became the latest local financial institution to feel the sting of the housing finance crisis Friday when it said writing down the value of Fannie Mae and Freddie Mac preferred stock on its books will result in a loss for the ...

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