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Financial News
As Fannie and Freddie shares fall, homebuyers are feeling the fallout - Herald Tribune
Jeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners cannot ...

Hunt for new model as copycat strategy fails - Financial Times
The announcement by Babcock & Brown ’s new chief executive, Michael Larkin, that the company would simplify its business was a tacit admission that its business model – initially developed by compatriot and rival Macquarie – was outdated. The ...

Market Report: AT&T in the frame for Cable & Wireless bid - The Independent
Traders talked about Cable & Wireless yesterday after Collins Stewart highlighted the prospect of a bid from AT&T, the American telecoms giant. The broker discounted the "perennial" Deutsche Telekom rumour, saying: "We continue to see AT&T as a far ...

Tata turns to asset sales to pay for Jaguar and Land Rover - Times Online
Tata Motors has been forced to scrap a planned 30 billion rupee (£368 million) rights issue that was to help finance the group's acquisition of Land Rover and Jaguar. The Indian company, which bought the British luxury marques from Ford for £1.15 ...

For Baugur, this M&A may have to stay a fantasy - Daily Telegraph
The department store sector has always been a happy hunting ground for retailers, stockbrokers, merchant bankers (and, yes, financial journalists) who fancy playing a game of "fantasy M&A". For these struggling (more often than not), mature, but ...

Many guilty parties in crash-and-burn - Atlanta Journal Constitution
First, the rapid appreciation in price of most homes since 2000 meant that many people had newfound equity. Many people took advantage of low rates to refinance and take cash from their homes.

Lone Star to buy subprime victim IKB - Financial Times
Lone Star, the US private equity group, is to take over IKB after months of talks to find a new owner for the German bank, one of the earliest casualties of the credit crisis. Leading board members at KfW, Germany’s state-owned development bank ...

Mortgage Rates for Best Borrowers Rise as Bonds Slump (Update2) - Bloomberg
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years ...

Lone Star buys German bank IKB at a major discount - International Herald Tribune
FRANKFURT : Lone Star, the private equity firm that recently rode to the rescue of Merrill Lynch, on Thursday picked up the German bank that was an early European casualty of the subprime mortgage crisis for a bargain price. IKB Deutsche ...

IN BRIEF - Newsday
Wall Street scored a moderate gain after a volatile session yesterday that saw the major indexes ratchet up and down on the seesawing price of oil and mixed feelings about the financial sector. Concerns about mortgage financiers Fannie Mae and ...

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Today's Mortgage Terms starting with S

  • Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
  • Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
  • Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
  • Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.

    View all Terms
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