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FirstFed posts another loss tied to home mortgage loans - Los Angeles Times
FirstFed Financial Corp. today reported its second consecutive quarterly loss, a $35.5-million deficit stemming from troubled housing-boom loans that allowed California borrowers to pay initial low monthly payments that caused their loan balances to ...

Does God Want You To Be Poor? - Washington Post
Resize Op-Ed Columnist Michael Gerson attacks the prosperity gospel movement in his column this week Faith's Real Riches . Gerson says prosperity gospel is "religiously infantile." His comments come as some ministers living extremely well are being ...

U.S. Economy: Pending Home Resales Unexpectedly Climbed in June - Bloomberg
Aug. 7 (Bloomberg) -- U.S. pending sales of previously owned homes unexpectedly rose in June as buyers swept up foreclosed and lower-priced properties. The index of pending home resales rose 5.3 percent after a revised 4.9 percent decline in May, the ...

Lawmakers urge foreclosure delay until Oct 1 - CNBC
WASHINGTON - Members of a congressional housing market oversight panel on Tuesday again urged the mortgage industry to hold off on foreclosures until legislation meant to help distressed U.S. homeowners can take effect on October 1. The four ...

Pending Home Resales in U.S. Unexpectedly Rose 5.3% (Update1) - Bloomberg
Aug. 7 (Bloomberg) -- More Americans unexpectedly signed contracts to purchase previously owned homes in June, a sign that lower prices are drawing some buyers back into the market. The index of pending home resales rose 5.3 percent after a revised 4 ...

UPDATE 1-U.S. lawmakers urge foreclosure delay until Oct 1 - Reuters
WASHINGTON, Aug 5 (Reuters) - Members of a congressional housing market oversight panel on Tuesday again urged the mortgage industry to hold off on foreclosures until legislation meant to help distressed U.S. homeowners can take effect on Oct. 1. The ...

U.S. lawmakers urge foreclosure delay until Oct 1 - Reuters
WASHINGTON, Aug 5 (Reuters) - Members of a congressional committee with financial market oversight urged the mortgage industry on Tuesday to hold off on foreclosures until legislation meant to help distressed homeowners can take effect on Oct. 1. The ...

New LIUNA Report Says More Housing Problems Coming in 2010 and 2011 - Forbes
LIUNA - the Laborers' International Union of North America - will release a new report detailing the implications for homeowners when five-year adjustable rate mortgages (ARMs) reset in 2010 and 2011. The report will be released during a press ...

Prominent Building, Lending and Real Estate Experts to Discuss ... - Forbes
YORBA LINDA, Calif., Aug. 5 /PRNewswire/ -- The nation's real estate crisis is being exacerbated by government policies and lending restrictions that limit investors' ability to purchase, sell and refinance properties that have gone into foreclosure ...

Fannie Mae raises fees it charges lenders - San Diego Union-Tribune
Fannie Mae on Tuesday outlined a new pricing policy aimed at helping the mortgage finance giant gird against increased credit risks and losses from home loans it buys from mortgage lenders, but the changes could end up squeezing out many borrowers ...

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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
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