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UK plumbing supplies firm Wolseley cuts 2,000 jobs - WTOP Radio
LONDON (AP) - Wolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs ...

U.S. mortgage applications ebb 17% - Newsday
U.S. mortgage applications fell last week to the lowest level in almost eight years as the worst financial crisis in seven decades dried up lending. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan ...

Bank Bonds Rise May Ease Pain of Refinancing $89 Billion Debt - Bloomberg
Oct. 15 (Bloomberg) -- A rally in bank bonds spurred by U.S. Treasury Secretary Henry Paulson 's rescue plan may ease the way for financial companies to refinance $89 billion of debt maturing through the end of the year. Bonds of Morgan Stanley ...

Pimco Closed-End Fund Joins Rivals Forced to Suspend Dividends - Bloomberg
Nov. 3 (Bloomberg) -- Pacific Investment Management Co.'s High Income Fund suspended dividend payments, the latest closed- end fund to be squeezed between plunging asset values and rules governing the use of borrowed money. The fund won't pay a $14.3 ...

Low Prices on Foreclosures Lift Sales of Existing Homes - Washington Post
Sales of single family houses, townhouses, condos and cooperatives rose 5.5 percent in September from August and were up 1.4 percent from a year ago. The increase mildly exceeded the expectations of analysts. (By David Zalubowski -- Associated Press ...

ARM Holders Would Do Well to Shop Around Now - Washington Post
The global financial crisis has affected virtually every aspect of personal finance, from mortgages to student loans to credit cards to retirement savings. So it's no surprise that so many of our readers have so many questions. Our first one comes ...

Mortgage Insurance Companies Not Giving Breaks - Insurance News Net
Oct. 29--Randy Johnson, the Newport Beach author of "How to Save Thousands of Dollars on Your Home Mortgage" and a mortgage broker since 1983, answers questions from readers. QUESTION: If one buys a home that is appraised at $1.1 million but sells ...

CAMPAIGN NEWS - US News and World Report
This morning's campaign coverage portrays the presidential race as having shifted decidedly in Sen. Barack Obama's favor, giving Sen. John McCain very little chance of picking up any states not won by President Bush in 2004. ABC World News described ...

Buy Real Estate Now - Forbes
On Halloween, Radar Logic published a new compendium of housing for the year ending in August. The results were frightening: House prices have held up in just a precious few cities (Milwaukee, up 3%; Columbus, flat; Charlotte, down 3%). All the big ...

Funding For Commercial Real Estate Down - Seekingalpha.com
Seeking Alpha's Housing Tracker is a collection of housing-related excerpts from various sources, grouped by topic. Feel free to post any interesting links on the subject in the comments section below. California developers obtain funding for multi ...

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Today's Mortgage Terms starting with U

  • Underwriting: It is the process of quantifying the risks involved in a specific loan and setting suitable terms and conditions for a mortgage.
  • URLA: Uniform residential loan application.
  • Usury: Interest charged in excess of the legal rate as established by law.

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