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Ron Grzywinski and Mary Houghton | community bankers - US News and World Report
In the midst of the subprime mortgage crisis, most bankers are fleeing from at-risk homeowners. But a bank in gritty south Chicago is running toward them with open arms. ShoreBank is courting low-income homeowners threatened by exploding adjustable ...

Corporate debt refinancing is the next crisis - Times Online
Most of the chief executives I meet these days divide into two groups. There are those who expect trading to fall off a cliff. Then there are those who expect trading to fall off a cliff and also have debt coming up for refinancing. Difficult trading ...

UPDATE 2-Serco says to meet expectations, shares jump - Reuters
LONDON, Nov 13 (Reuters) - British government services firm Serco Group Plc (SRP.L: Quote , Profile , Research , Stock Buzz ) said on Thursday it was on track to meet expectations this year and could boost its pretax profit margin by 30 basis points ...

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 ...

SHARC to take bite out mortgage foreclosures - KARE
He's been working for years to pay off his mortgage. 46-year-old Jim Jackson of Minneapolis wanted to eventually leave his home to his four children. But last year, an illness in the family forced him to refinance. He says, "We needed to take a loan ...

For rent and for sale, part one - Boston Globe
Hello, I had a question... today I noticed the same house is both for sale and for rent... does this often happen? [Attached here was a link to a rental notice on Trulia for about $2000 a month. This house is on my client’s MLS list for sale around ...

O'Brien's blog - Atlanta Journal Constitution
The entry titled "Which Braves prospects are untouchable?," and any of the comments about it. Philadelphia — I’m in chilly Philly and Braves officials are not. But neither are officials from most other teams, save for the participating Phillies ...

How to Pay for Home Remodeling - Smart Money
ANSWER: Having some equity in your home may sound like a quaint notion these days, but it still makes the best financial sense. Plus, in today's rocky housing market, it may even be required for borrowers with less-than-perfect credit. "If you can't ...

Europe's Financial Vulnerability (by Hannes Androsch) - Turkish Weekly
The most notable innovations of the past two decades have been financial. Like technological innovation, financial innovation is concerned with the perpetual search for greater efficiency – in this case, reducing the cost of transferring funds from ...

A solution to the financial crisis? - Online Journal
Readers have been pressing for a solution to the financial crisis . But first it is necessary to understand the problem. Here is the problem as I see it. If my diagnosis is correct, the solution below might be appropriate. Let’s begin with the fact ...

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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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