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News about Mortgages:
Stonegate Mortgage Corporation Hires Cori Drudge as Loan Originator - Market WireINDIANAPOLIS, IN--(Marketwire - November 17, 2008) - Stonegate Mortgage Corporation is pleased to announce the hiring of Cori Drudge as a Loan Originator for their Fishers, Indiana office. Prior to joining Stonegate Mortgage, Mr. Drudge was the ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Plainfield plans open-house tour to jump-start real estate market - MyCentralJersey.comPLAINFIELD — With state and national officials scrambling to find solutions to the country's home foreclosure crisis, the city has announced a plan to address the problem on a local level. In cooperation with the Plainfield Chamber of Commerce and ...
Real-Estate Slump Thrusts Lenders Into Unfamiliar Roles - Wall Street JournalMezzanine lender Dominion Capital Management LLC didn't anticipate developing shopping centers when it lent $170 million to developer Premier Properties USA Inc. But that is what Dominion is doing since Premier fell into bankruptcy court last spring ...
Premier's collapse ruffles lender - Indianapolis StarDominion, based in Atlanta, foreclosed in April on Premier's 11 shopping centers, including Metropolis in Plainfield, Ind. With them, the lender inherited a pile of problems: anxious first-mortgage holders and millions of dollars in contractors ...
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