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Financial News
First Gen net profits tumble in third quarter - Business World
NET PROFITS of Lopez-led First Gen Corp. plunged in the third quarter as a result of higher interest and financing costs after buying a controlling stake in Energy Development Corp. (EDC) last year. In a disclosure to the stock exchange, the listed ...

First Gen unit gets $544 mln loan to refinance debts - ABS-CBN
First Gas Power Corp, a unit of Philippine power producer First Gen Corp, has secured a $544 million term loan to repay its debt and that of its parent firm. In a statement to Manila's stock exchange on Tuesday, First Gen said part of the loan would ...

UPDATE 1-Philippines' First Gen unit gets $544 mln loan - CNBC
MANILA, Nov 11 (Reuters) - First Gas Power Corp, a unit of Philippine power producer First Gen Corp, has secured a $544 million term loan from a consortium of foreign banks to repay its debt and that of its parent firm, despite tight credit ...

Birmingham's mayor opens effort to stock city food banks - Everything Alabama Blog
Birmingham Mayor Larry Langford today announced a new campaign to stock city food banks. The mayor has asked city's 4,000 employees to donate $10 to area food banks. The mayor's logo for the food bank effort Langford this afternoon met with all 26 ...

Philippines' First Gen unit gets $544 mln loan - Forbes
MANILA, Nov 11 (Reuters) - First Gas Power Corp, a unit of Philippine power producer First Gen Corp, has secured a $544 million term loan to repay its debt and that of its parent firm. In a statement to Manila's stock exchange on Tuesday, First Gen ...

First Gen unit bags $544-M loan - Inquirer.net
MANILA, Philippines -- First Gas Power Corp., a unit of Philippine power producer First Gen Corp., has secured a $544-million term loan to repay its debt and that of its parent firm. In a statement to Manila's stock exchange on Tuesday, First Gen ...

First Gen unit gets $544-M loan - Business World
In a disclosure to the Philippine Stock Exchange, First Gen yesterday said part of the loan would be used to repay a $132-million debt. Another $215 million will go to First Gen to help it pay a significant portion of its maturing debts. The company ...

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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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