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Hawaii not immune to ‘liar loan’ crisis - Honolulu Star-Bulletin
In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." The nation's ...

Lobbyist$ paid off for Sen. Joe Biden - Boston Herald
Boston Herald Chief Enterprise Reporter Wedge is the Herald's Chief Enterprise Reporter and writes Sunday's "Pols & Politics" column. He also covers music for "The Edge" entertainment section. D ENVER - Sen. Barack Obama has portrayed himself as a ...

Buying or refinancing a house in the pricey Bay Area? - San Francisco Gate
Besides its core purpose of providing tax refunds, the tentative package - which still has several hurdles to clear - essentially rewrites the definition of "jumbo" loan, raising the cap from its current $417,000 to as high as $729,750 in high-cost ...

Cost of College a Bipartisan Concern - Inside Higher Ed
Congressional Republicans have been making known for years their concern about the rapidly escalating tuitions that colleges are charging. Higher education leaders have held out hope that Democratic lawmakers, now that they control Congress, would be ...

Stimulus Plan Votes: Will They Help Stocks Today? - CNBC
Companies: Amazon.com Inc | Deere & Co | National Oilwell Varco Inc | Consol Energy Inc | Washington Mutual Inc | Ambac Financial Group Inc | Countrywide Financial Corp | HSBC Holdings, plc. Stock prices are a bit squishy this morning. There is ...

INDUSTRY NEWS & PEOPLE July 2007 - Business Travel Executive
The Association of Corporate Travel Executives has named Jerome Drevon-Barreaux, global travel manager for Capgemini, as the new regional chair of ACTE Europe. A more than 10 year veteran of the business travel industry, Drevon-Barreaux directs a T&E ...

INDUSTRY NEWS & PEOPLE March 2007 - Business Travel Executive
The NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...

Rates may shrink on big home loans - Naples Daily News
Homeowners and homebuyers who live in expensive housing markets may be pleased to learn that the federal government recently increased the size of mortgages that Fannie Mae and Freddie Mac can purchase and the Federal Housing Administration (FHA) can ...

NextAce Adds 27 New Counties in Four States and Washington D.C. - PR Newswire
ANAHEIM HILLS, Calif., April 11 /PRNewswire/ -- Title automation and business process optimization (BPO) company, NextAce(SM) Corporation ( http://www.nextace.com ), today announced that it has expanded production to include 19 new counties in ...

More Than a Rabble Rouser? - Inside Higher Ed
A man who mobilized a virtual battalion of unhappy borrowers after defaulting on his own student loans — and has since served as a poster boy for the loan reform he’s seeking in media outlets nationwide — is now trying to raise the stakes ...

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Today's Mortgage Terms starting with C

  • Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
  • Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
  • Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
  • Collateral: Property pledged as security for a debt.
  • Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
  • Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
  • Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
  • Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
  • Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
  • Credit Bureau: It is a clearinghouse for credit history information.
  • Credit Report: A report containing a detailed credit history of an individual.

    View all Terms
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