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News about Mortgages:
Financial News
3 Executives Are Leaving Fannie Mae - Gainesville Sun
WASHINGTON (Reuters) — The mortgage finance giant Fannie Mae announced a management shake-up on Wednesday in an effort to come to grips with mounting credit losses and a shrinking capital base. The chief financial officer, Stephen M. Swad, was ...

Treasury's Vigil On Fannie, Freddie - Washington Post
Analysts who closely follow the Treasury have said that no action to rescue ailing mortgage giants Fannie Mae and Freddie Mac appears imminent this weekend. (By Mannie Garcia -- Bloomberg News) A top concern of Treasury Secretary Henry M. Paulson Jr ...

Mortgage volume rises - CNN Money
WASHINGTON (AP) -- Mortgage application volume rose less than 1% during the week ended Aug. 22, according to the Mortgage Bankers Association's weekly application survey. The trade group's application index rose to 421.6 during the week, from 419.3 a ...

Fannie Mae sees major management shake-up - Globe and Mail
WASHINGTON — Mortgage-finance company Fannie Mae Wednesday announced a management shake-up in an effort to come to grips with mounting credit losses and a shrinking capital base. The company's chief financial officer, Stephen Swad, was replaced ...

Most Viewed Business News - Yahoo News
SHANGHAI, China - China and Iraq have signed a $3 billion deal revising an earlier agreement for China's biggest oil company to help develop the Ahdab oil field, an official at the Iraq's Oil Ministry said Thursday. Oil near $120 as Gustav threatens ...

Financial Crisis Is Absent From Agendas of Parties, Candidates - Bloomberg
Aug. 27 (Bloomberg) -- The U.S. is facing the worst financial crisis since the Depression. You would never know that from the Democrats' platform in Denver or its Republican counterpart, or from listening to Barack Obama or John McCain . While both ...

Lending Over Backward - Forbes
When the nation's politicians take the stage in Denver and St. Paul, Minn., you'll hear a lot of talk about saving the decrepit housing market, and lately that means one thing: The Federal Housing Administration. Watch your wallet. Heralded as a ...

Alabama County Prepares for Bankruptcy in Debt Crisis (Update1) - Bloomberg
Aug. 26 (Bloomberg) -- Jefferson County, Alabama, officials told their lawyers to prepare a bankruptcy filing if the county can't reach an agreement with creditors over how to escape from $3 billion of bonds with soaring interest rates. The Jefferson ...

Government home price index posts largest drop - Pittsburgh Post-Gazette
WASHINGTON -- U.S. home prices fell 4.8 percent in the second quarter compared with a year ago, easily a new record low, according to a government report. The government index for the April-June period, released today by the Office of Federal Housing ...

Home prices fall a record 15.9% year over year - Marketwatch
WASHINGTON (MarketWatch) -- U.S. home prices fell at a record rate in June, putting more pressure on an already-fragile financial system. The Case-Shiller index of 20 major metropolitan areas for the month fell by 15.9% from June 2007, Standard ...

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Today's Mortgage Terms starting with L

  • Lender: The bank, mortgage company or mortgage broker providing the loan.
  • Loan Application: A statement of personal and financial information needed to apply for a loan.
  • Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
  • Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
  • Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
  • Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.

    View all Terms
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