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Kucinich: More time for public comment on NCB takeover - WKYC
WASHINGTON D.C. -- Congressman Dennis Kucinich (D-OH) sent a letter Sunday to Federal Reserve Bank Chairman Ben Bernanke, asking him to overrule a decision by Robert Frierson, the Deputy Secretary of the Federal Reserve Board, in order to accommodate ...

Henry Paulson Video Gallery - CNBC
CNBC's Hampton Pearson has the latest on Paulson's new plan for the economy and Obama's economic team. Feedback on the Treasury Secretary's statement on the rescue plan update, with CNBC's Dennis Kneale and Michelle Caruso-... Paulson Q&A, Pt. 1 ...

Ford may sell Volvo to bolster cash - The Age
Ford Motor said it may sell its Volvo unit, the company's sole remaining European brand, a day before the second-largest US automaker is scheduled to present a survival plan to US federal lawmakers. The review of options for Volvo was spurred by the ...

Ford Says It May Sell Volvo, Its Last European Brand (Update4) - Bloomberg
Dec. 1 (Bloomberg) -- Ford Motor Co. said it may sell its Volvo unit, the company’s sole remaining European brand, a day before the second-largest U.S. automaker is scheduled to present a survival plan to federal lawmakers. The review of options ...

Mortgage rates fall after government's pledge - WLS
A dramatic drop in interest rates is good news for home buyers. Credit appears to be flowing following the government's pledge on Tuesday to give $800 billion to new loan programs. Interest on a 30-year fixed rate mortgage dropped more than a half a ...

Prosecutor: Church Shooting Suspect Confesses, Would Have Killed ... - FOX News
Nov. 25, 2008: Joseph Pallipurath appears in a Walton County courtroom for an extradition hearing. Nov. 25, 2008: Joseph Pallipurath appears in a Walton County courtroom for an extradition hearing. A man accused of driving across the country to ...

Redskins, Jaguars upgrade security after shootings - FOX News
Washington Redskins tight end Chris Cooley used to go to work with his house unlocked, his garage door open and his mind at ease. Living in a distant suburb of Washington, D.C., Cooley never worried about break-ins or robberies. He had even less ...

Highlight of the high street still pulls them in even as the wonder of ... - Scotsman
AILEEN McEwen remembers the halcyon days of Woolworths when, as a schoolgirl, she would rush round its wooden-floored aisles before placing her carefully chosen bag of pic 'n' mix on the mahogany counter. It is a childhood memory universal to almost ...

November 2008 - Palm Beach Interactive
Gov. Charlie Crist wants to have a temporary foreclosure freeze in place by next week, he said this morning. Crist said he is meeting with bankers to try to come up with a deal without having lawmakers involved that would stall foreclosure ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

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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.

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