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News about Mortgages:
Fitch Ratings Affirms MS 1999-WF1; Assigns Outlooks - EarthtimesNEW YORK - (Business Wire) Fitch Ratings has affirmed Morgan Stanley Capital I Inc.'s commercial mortgage-backed securities, series 1999-WF1, as follows: --Interest-only (IO) class X at 'AAA'; Outlook Stable; --$7.8 million class E at 'AAA'; Outlook ...
UPDATE 2-AbitibiBowater to close plants, cut jobs - ReutersNEW YORK, Dec 4 (Reuters) - AbitibiBowater Inc (ABH.N: Quote , Profile , Research , Stock Buzz ) (ABH.TO: Quote , Profile , Research , Stock Buzz ), the largest North American newsprint maker, said it would slash production and eliminate 1,100 jobs ...
Bernanke: More foreclosure aid needed - CNN MoneyNEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke said Thursday that the government must do more to address foreclosures. Bernanke, speaking at a Fed conference in Washington, D.C., said that beyond just keeping homeowners in their ...
Fed Aid Sets Off a Rush to Refinance - Wall Street JournalThe Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...
Meltdown far from over, new mortgage crisis looms - NewsweekRecommended (6) Gross: Not All Supbrime Is Created Equal Some Investors See Promise in Housing Market Russian Tycoons Snapping Up New York Real Estate Part 3: Are We In Another Great Depression? Part 2: Are We In Another Great Depression? Economy ...
Thomson Financial News - ForbesGaming group Crown has raised A$1.6 billion from banks to repay debt that had been due to expire in August 2010. 'In the current environment you've just got to be prudent and get the job done,' Crown investor relations manager Geoff Kleemann said ...
PRESS DIGEST-Australian Business News - Dec 5 - CNBCCompiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy. THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com) Gaming group Crown has raised A$1.6 billion from banks to repay debt that had been due ...
Geithner Seeks to Push FDIC’s Bair Out After Clashes (Update1) - BloombergDec. 4 (Bloomberg) -- Timothy Geithner , President-elect Barack Obama ’s choice for U.S. Treasury Secretary, is seeking to push Federal Deposit Insurance Corp. Chairman Sheila Bair out of office. Geithner, president of the Federal Reserve Bank of ...
New mortgage woes ahead - NorthJersey.comWASHINGTON — The full scope of the housing meltdown is not clear, and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in ...
Desperate Times, Desperate Policies - ForbesAwful news has greeted Americans in recent days: free falling consumption spending, collapsing new home sales, falling consumer confidence, very high initial claims for unemployment benefits, collapsing orders for durable goods. It is hard to get any ...

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Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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