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News about Mortgages:
BSkyB to raise $600 million in bond issue - Buffalo NewsSatellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses. BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp., said it will ...
BayWalk owner says foreclosure near - St. Petersburg TimesBayWalk, which opened in St. Petersburg in 2000, has run into difficulty. Its vacancy rate stood at 25 percent this summer. BayWalk's owner is in default on his mortgage loan and anticipates that foreclosure will follow for the downtown St ...
UK plumbing supplies firm Wolseley cuts 2,000 jobs - Buffalo NewsWolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs across Europe and ...
Ecuador auditor says debt irregular, urges default - Buffalo NewsThe official overseeing an audit of Ecuador's foreign debt said his committee has found irregularities tied to almost all of the country's bonds and will recommend that it default on its $10.3 billion in debt. After a yearlong investigation, auditors ...
Obama, McCain duel on economy - Buffalo NewsTOLEDO, Ohio — Sens. Barack Obama and John McCain battled long-distance over the economy Monday as Obama offered new proposals to aid middle- class voters, including a moratorium on mortgage foreclosures, while McCain presented himself as a fighter ...
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