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School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

ECB's Trichet urges banks to resume lending - Boston Globe
PARIS— The European Central Bank's president says policymakers are doing their job to restore confidence amid the financial crisis, and banks now need to resume lending to one another and customers. Jean-Claude Trichet says governments and central ...

PE Eyes Bailout Funds - CNBC
The Case for a Homeowner Ba... Calls for a homeowner bailout in the U.S. are growing louder, with Susan Wachter, Wharton Business School; Howard Glaser... With shock after shock to the world's financial system, the credit crunch continues to drive a ...

Trichet Says Banks Are on `On the Path' to Recovery (Update1) - Bloomberg
Oct. 19 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said the banking system is ``on the path'' to recovery after policy makers pumped unprecedented amounts of cash into money markets. ``I expect the banks to normalize their ...

Trichet Urges Banks to Lend After Recovery Begins (Update2) - Bloomberg
Oct. 20 (Bloomberg) -- European Central Bank President Jean-Claude Trichet urged banks to start lending again after policy makers put them ``on the path'' to recovery by pumping record amounts of cash into money markets. ``I expect the banks to ...

President-Elect Obama and the U.S. Dollar - Seekingalpha.com
American equity investors are worried about the incoming Obama administration. The Democratic candidate’s campaign promises to raise capital gains and marginal tax rates are viewed by many as a dangerous burden for a recessionary economy. But the ...

US, eurozone central banks pledge cooperation to resolve banking ... - Raw Story
US Federal Reserve chief Ben Bernanke said Friday that he and other central bankers would join forces to cement tentative improvements in world credit markets. "Policymakers will remain in close contact, monitor developments closely, and stand ready ...

Cowen to attend Paris economic summit - RTE Online
The Taoiseach Brian Cowen will be among the Eurozone leaders who are to meet in an emergency summit in Paris on Sunday to draw up a joint action plan to tackle the financial crisis. The French President Nicolas Sarkozy's office made the announcement ...

Big names join fight for HBOS - Scotsman
THE tycoon Sir Tom Farmer is at the head of a growing list of senior business figures demanding a rethink of the HBOS takeover, The Scotsman can reveal. Figures from industries including construction, retail, property and tourism are all concerned ...

What Mervyn didn't say - bbc
The slightly odd thing about Mervyn King's speech last night is that it didn't address the issue of what the central bank, the Bank of England , could do better next time. King's analysis of what went wrong is spot on, as always. In a nutshell our ...

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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
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