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Cramer: Fannie, Freddie Takeover Changes the Game - Street.Com
Right now, at this moment, many people know that something good is going to come from this government takeover of Fannie ( FNM - Cramer's Take - Stockpickr ) and Freddie ( FRE - Cramer's Take - Stockpickr ) , but they don't know how it relates to the ...

Foreclosures rose in U.S., but delinquencies eased in quarter - International Herald Tribune
Home foreclosures in the United States hit another record in the second quarter, but in a sign of improvement, the number of borrowers falling behind on payments dropped for the first time in more than two years, according to a report released Friday ...

Paulson Plans to Take Control of Fannie, Freddie (Update1) - Bloomberg
Sept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson is preparing to announce plans to bring Fannie Mae and Freddie Mac under government control, seeking to halt the crisis of confidence in the companies that make up almost half the U.S. mortgage ...

US government to take over Fannie Mae, Freddie Mac (Roundup) - Monsters and Critics
Washington - The US government was preparing to take over the twin mortgage finance giants known as Fannie Mae and Freddie Mac, dismiss their top executives and prop up the companies with government funds, media reports said late Friday. The ...

Washington's Fannie And Freddie Plan: Why Now? - Forbes
Fannie Mae and Freddie Mac , the mortgage finance giants that fund half the U.S. housing market, are about to become subsidiaries of the U.S. government. The Treasury Department late Friday was putting together final details of a plan to take the two ...

Pick-a-payment loans turn poisonous - CNN Money
NEW YORK (CNNMoney.com) -- They're known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to explode, according to a Fitch Ratings report issued ...

Record 9% of Americans can't make home payments - Detroit Free Press
WASHINGTON — More than 4 million American homeowners with a mortgage, a record 9%, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said today ...

Home loan troubles break records again - Forbes
More than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday. But the ...

Delinquencies, foreclosures rise to more than 9 percent of US home ... - Chicago Tribune
WASHINGTON (AP) _ The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers ...

US government to take over mortgage giants - Khaleej Times
WASHINGTON - The US government was preparing to take over the twin mortgage finance giants known as Fannie Mae and Freddie Mac, dismiss their top executives and prop up the companies with government funds, media reports said late Friday. The ...

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Today's Mortgage Terms starting with I

  • Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
  • Initial Rate: The rate charged for the first interval of an ARM loan.
  • Interest: Compensation in the form of money paid for the use of money.
  • Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.

    View all Terms
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