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As Credit Tightens, Companies Curtail Spending, Expansion - Washington PostCarMax said this week that it might curtail lending by its financing arm. It laid off 600 workers this month in an effort to save costs. (By Chris Rank -- Bloomberg News) With bank lending windows slammed shut for the past month, countless companies ...
Wall Street Breakfast: Must-Know News - Seekingalpha.comEurope's funding risks. Over the next three years, around $2.1T of European corporate and bank debt will mature, creating 'substantial refinancing risk,' according to Standard & Poor's. After the collapse of Lehman Brothers, new bond issues are ...
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Refinancing available to vets with subprime loans - HamptonRoads.comVeterans with conventional home loans now have new options for refinancing to a loan guaranteed by the Department of Veterans Affairs, according to a news release. These new options are available as a result of the Veterans’ Benefits Improvement ...
Investors 'stuck' high and dry in WexTrust fraud case - HamptonRoads.comWhen the dividend check he expected in April didn't arrive, Tim Moore made repeated phone calls to WexTrust Capital's offices in Norfolk and Chicago. The check eventually came, but it bounced. When Moore asked WexTrust to return his $140,000 ...
PHH Corporation. Q3 2008 Earnings Call Transcript - Seekingalpha.comWelcome to the PHH Corporation 2008 third quarter Earnings Call. Your lines will be in a listen-only mode, during remarks by PHH management. At the conclusion of the company's remarks we will begin the question-and-answer session, at which time I ...
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