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Mortgage refinance
Fannie Mae relaxing loan downpayment requirements - Forbes
NEW YORK, May 16 (Reuters) - Fannie Mae (nyse: FNM - news - people ), the nation's largest U.S. home funding source, is creating a single national standard for down payments on mortgages it buys including areas where home prices are falling, in an ...

Legg Mason funds take more hits - Baltimore Sun
Legg Mason Inc., which has already committed almost $2 billion to shore up money market funds hit by the mortgage meltdown, will take another hit to bail out investors in closed-end funds hurt by the collapse of the market for so-called auction-rate ...

Secretary Paulson Remarks on Credit Markets and Housing - Washington Post
The Washington Post's annual report on the D.C. area's top businesses. The housing correction began in 2006, and most forecasters expect a prolonged period of adjustment. Four points sum up my current view of the progress of that correction and our ...

So-called jumbo loans still hard to get - ScrippsNews
Higher loan limits, set by the federal government as part of an economic stimulus package early this year, were supposed to make jumbo loans more affordable in expensive housing markets. Rates finally have come down on these so-called "jumbo ...

South Florida foreclosure sales rise dramatically - Fort Lauderdale Sun-Sentinel
The housing crunch rages on, as more South Floridians behind on their mortgage payments are losing their homes in foreclosure sales after failing to work out deals with lenders. Scheduled sales in Broward County hit 2,568 last month, more than a ...

Remarks by Secretary Henry M. Paulson, Jr. - U.S. Treasury
Washington - Thank you, Len. Over the last forty years, Washington has transformed into a diverse corporate center. Congratulations to the Post for recognizing this through their annual list of 200. And I am pleased to join you and represent the "old ...

Questions and Answers with Lyne Tracy - Daily Oklahoman
Q : Interest rates have been at historic lows for a long time now. Why would people refinance now, if they haven't already? A : There are several reasons. Rates for 30-year fixed-rate mortgages are about 0.75 (percentage point) less than they were ...

Hudson City Bancorp, Inc. Reports Record Earnings of $88.7 Million - PR Newswire
PARAMUS, N.J., April 22 /PRNewswire-FirstCall/ -- Hudson City Bancorp, Inc. NASDAQ: HCBK, the holding company for Hudson City Savings Bank, reported today that net income for the first quarter of 2008 increased 24.6% to $88.7 million as compared to ...

KKR Financial Announces Resolution of Mortgage-Backed Commercial Paper ... - PR Newswire
SAN FRANCISCO, March 31 /PRNewswire-FirstCall/ -- KKR Financial Holdings LLC NYSE: KFN (the "Company" or "KKR Financial") announced today that it has entered into an agreement with the holders (the "Noteholders") of the secured liquidity notes, also ...

Woman wants taxes back - Chronicle-Telegram
ELYRIA — An Eaton Township woman picketed outside the county Administration Building on Monday, demanding that county Auditor Mark Stewart return about $1,300 in property taxes she overpaid in February. CINDY LEISE / CHRONICLE Kristen Pascoe of ...

Refinance second mortgage

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.

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