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Market Report: RBS soars on back of Merrill's rescue plan - The Independent
Royal Bank of Scotland registered a stellar 16.79 per cent rise last night after the house broker Merrill Lynch suggested a radical restructuring strategy to save the bank, already majority-owned by the British taxpayer, from full nationalisation ...

How Private Equity Strangled Mervyns - BusinessWeek
By Emily Thornton Morris, founder of Mervyns at the site of the original store in San Lorenzo, Calif. Eric Millette The site of the original store in San Lorenzo, Calif. On the morning of Oct. 23, Mervin G. Morris went to the Hayward (Calif ...

Jetride Inc. Grounded - Morning News
SPRINGDALE -- Not quite six years after it started, Jetride Inc. (formerly known as Pinnacle Air LLC), has surrendered its flight operating certification to the Federal Aviation Administration. On Monday, all planes were officially grounded and the ...

TCW's Gundlach sticks to his knitting, sews up another award - BusinessWeek
Jeffrey Gundlach, co-manager of the TCW Total Return Bond Fund (TGLMX) with Philip Barach, just won Morningstar’s bond fund manager of the year award. He was also named one of the best by BusinessWeek for the fourth consecutive year back in March ...

Company liquidations rise by a quarter, and more individuals declared ... - Guardian Unlimited
The number of companies going bust is expected to soar in the coming months after official figures showed corporate insolvencies had increased dramatically to their highest point for five years. Company liquidations jumped by a quarter in the past ...

Auto industry seeking U.S. help - CNN Money
LANSING, Mich. (AP) -- As six state governors ask Treasury and the Federal Reserve to take "immediate action" to help U.S. automakers, GM's financing arm says it is wants to become a bank holding company. General Motors Corp. ( GM , Fortune 500 ) and ...

Obama Addresses Crowd in Downpour; McCain Cancels - Huffingtonpost.com
Tuesday was a tough day to be outside in Greater Philadelphia. The rain poured and the wind howled. The weather turned so nasty that the fifth (and possibly final) game of the World Series scheduled for the night was postponed. John McCain canceled a ...

HBOS chiefs accused of dereliction of duty and failing to explore ... - Scotsman
DIRECTORS of HBOS have been accused of failing in their duties to shareholders by not looking seriously at alternatives to the Lloyds TSB takeover bid. A cross-party group of MSPs yesterday launched a fresh attack on the deal and said they had ...

Qwest Communications International Inc. Q3 2008 Earnings Call ... - Seekingalpha.com
Good morning, everyone, and thank you for joining us on our call this morning. For the format of the call, Ed Mueller, our Chairman and CEO, is going to lead with some high-level observations on our third quarter performance and progress on strategic ...

Lurching Toward Gomorrah: More Signs of An Unstoppable Economic ... - OpEdNews.com
Crisis denialists are still around but are slowly and grudgingly giving way to the reality that global capitalism is in serious crisis as recession lurches toward depression in a continuing downward spiral. Nearly every new data release confirm it ...

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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.

    View all Terms
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