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State Agencies Get Creative on Student Loans - Inside Higher EdAs various lenders and some of its peers in other states announced in recent months that they would stop making federal or private loans because of disruptions in the capital markets, the Illinois Student Assistance Commission steadfastly held firm ...
Navy Federal Slashes Mortgage Rates - Forbes5.625% 30-Year Fixed Mortgage up to $730K VIENNA, Va., Sept. 4 /PRNewswire-USNewswire/ -- Effective immediately, Navy Federal Credit Union is now offering its members some of the lowest rates nationwide for a wide range of Mortgage Products. For ...
Why mortgage rates aren't falling - Walletpop.comWith the Fed holding rates for the foreseeable future, you may think this is a great time to refinance your mortgage or buy a new home. But because of the "credit crunch" you are no doubt sick of hearing about, rates are actually higher than they ...
STOCKS NEWS EUROPE-Colonial up on debt refinancing deal - ForbesShares in Spain's Colonial
climb as much as 8.6 percent, lifted by the real estate company's announcement of a debt refinancing deal. 'Colonial was approaching a worse-case scenario, so any news on refinancing is positive for the share price ...
ECB crackdown looms - Marketwatch
LONDON (MarketWatch) -- The European Central Bank has signaled plans to carefully change the rules governing what kind of collateral it will accept when banks tap money-market auctions for needed cash. Economists say the ECB could move as early as ...
Thompson defends Palin - Knoxville News Sentinel
Former Sen. Fred Thompson of Tennessee speaks at the Republican National Convention on Tuesday night in St. Paul, Minn. He spoke in defense of Sen. John McCain's vice presidential pick, Sarah Palin, who has revealed that her unmarried 17-year-old ...
Latest Share Chat - Life Style Extra
European stocks remain in the red as U.S fall in early trade on Wall Street after weak U.S. labor market data that highlight worries over the health of the U.S. economy. At 1405 GMT, the FTSEurofirst 300 .FTEU3> index of top European shares is down 0 ...
The State of Whose Union? - Common Dreams
Earlier this week, speaking for Washingtonia and unburdened by high expectations, President Bush said "all of us were sent to Washington to carry out the people's business." The question remains - exactly which people? And what business, Mr. Bush ...
Obama's plan to change the economy - Salon
In the past quarter-century, there has probably never been a better time for a presidential candidate to charge into downtown Manhattan and make a speech arguing for more regulation of the financial industry. The moral authority of market ...
The Conservative Origins of the Sub-Prime Mortgage Crisis - Common Dreams
Hardly a day goes by without a news story about the accelerating number of foreclosures, an economic tsunami that is causing chaos in the housing and stock markets, the banking industry, and the global money markets, not to mention upending families ...

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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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