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News about Mortgages:
Leaders seek answers to mortgage crisis - SentinelSen, Barbara Mikulski (D-Md.) held a special panel discussion in Prince George's County last Thursday to get an understanding of how big of a problem the housing bust is. "I'm trying to figure out what I should be doing," she said as she sat around ...
Foreclosure forum aims to help struggling homeowners - Maryland Daily RecordLANDOVER — For the past few months, 44-year-old Ninotchka Jones of Upper Marlboro has not been able to pay her mortgage on time, and a few days ago, she received a foreclosure notice. Jones, an owner of a small catering company, said business has ...
Altria says lenders want UST deal pushed into 2009 - Guardian UnlimitedCHICAGO, Oct 3 (Reuters) - Altria Group Inc said on Friday it may hold off on closing its $10.4 billion purchase of UST Inc until early January because its lenders advised that it would be better to close the deal in 2009. The lenders' request ...
Stocks mostly advance on mortgage giants plan - AZCentral.comNEW YORK - Stocks mostly advanced Monday as investors rushed to lay bets on a recovery in the financial and housing sectors following the weekend announcement that the U.S. government will bail out mortgage giants Fannie Mae and Freddie Mac. The Dow ...
Dow jumps more than 300 points in opening minutes - The Washington TimesNEW YORK (AP) - Stock prices soared in the opening minutes today after a weekend announcement that the U.S. government plans to bail out mortgage lenders Fannie Mae and Freddie Mac. The Dow Jones industrial average is up 343.03 to 11,563.99. The ...
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