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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.
View all Terms |
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The latest
Mortgage News:
West Virginia Gets Bleak Economic Forecast for 2009 - WOWKWest Virginia University economics professor George Hammond says the news isn't good, but it isn't as bad as it could have been. West Virginia residents might need a good stiff drink next year -- but only one. That is how West Virginia University ...
Obama going from calm to aggressive on crisis - San Francisco GateTuesday, October 14, 2008 Obama called for a three-month foreclosure freeze, an idea his campaign trashed when he was battling Sen. Hillary Rodham Clinton in the primaries. He added new tax breaks for business and new infrastructure spending. He ...
Lenders that Have Closed Shop, - Wall Street JournalMore than 80 mostly subprime mortgage lenders -- those that make home loans to the riskiest borrowers with questionable credit -- have closed shop since the end of last year as clients defaulted on payments and banks cut off the funding required to ...
Banks Video Gallery - CNBCANZ CEO: Asia Plans On Trac... Despite the global financial turmoil, Mike Smith, CEO of ANZ Bank is still keen to pursue M&A opportunities in Asia. He ... Banking on Indonesian Finan... As Poltak Hotradero, head of research & economist at Recapital ...
Wachovia Names David Pope President for Mortgage and Retail Credit ... - PR NewswireCHARLOTTE, N.C., Jan. 24 /PRNewswire-FirstCall/ -- Wachovia Corporation announced today that David Pope has been named president of Wachovia Mortgage and Retail Credit. In his new role, Pope will be responsible for leading the daily sales ...
Maryann Haggerty and Elizabeth Razzi - Washington PostWelcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...
Business Notes - Lexington Herald-LeaderVersailles-based engineering company to open W.Va. office A Versailles-based engineering company that provides technical services to the oil and natural gas industry plans to open an office in West Virginia. Energy Management Services Co. said ...
TransUnion.com: National Auto Loan Delinquency Rates Increased ... - PR NewswireCHICAGO, Sept. 23 /PRNewswire/ -- TransUnion.com released today the results of its analysis of trends in the auto lending industry for the second quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses ...
Real Estate - Washington PostWelcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...
The Obama effect on Ga. turnout - Atlanta Journal ConstitutionLet me state what many of the ignorant bloggers have overlooked throughout this election …Obama is half white! He wasn’t even raised by his black family, barely even knows them! This is what gets under my skin. Black people are excited to see a ...
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