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News about Mortgages:
Mortgage Broker gets 3.5 years in fraud - Phoenix Business JournalPhoenix mortgage broker Rick Thomas McCullough was sentenced to three-and-a-half years in prison after pleading guilty to securities fraud related to a scam bilking four seniors out of more than $400,000. He also received seven years probation and ...
Jury awards LAPD officer $3.6 million in retaliation suit - Los Angeles TimesA Los Angeles County Superior Court jury on Wednesday awarded $3.6 million to a Los Angeles police officer who said he was demoted and suffered retaliation when he stood up for a sexually harassed colleague. Officer Donald Bender was stripped of a ...
Weaver Auto steers clear of foreclosure — for now - UnionKeyBank has decided to postpone foreclosure proceedings against Weaver Auto and Truck Center until at least April 17, owner Tom Weaver said Monday, averting plans to auction off the property on the courthouse steps next month. The decision gives ...
Russia-China $25bn Loan Talks set to Re-Open - Oilvoice.comRussia is set to re-open talks with China within the coming week to secure $25 billion in loans, for two cash-strapped Russian energy companies, in exchange for guaranteed long-term crude oil supplies in the opposite direction. The initial round of ...
Human frailty caused this crisis - Financial TimesM ea culpas are rare these days. In a debate with John Kerry in 2004, President George W. Bush famously could not name a single mistake he had made in his first term. So it is both noteworthy and commendable that Alan Greenspan, the former US ...
Austral Pacific Announces Interim Results - Oilvoice.comA one-off $3.3 million write-off has seen listed exploration company Austral Pacific post a $2.93m before tax loss in its third quarter. Austral Pacific yesterday filed its Q3 interim accounts. Austral Pacific chief executive officer Thompson Jewell ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd 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 ...
Trinity Health bond deal to help expansion - Detroit Free PressTrinity Health completed a $492 million municipal bond deal late Tuesday that allows it to refinance costlier debt and expand hospital projects at its Michigan and Idaho hospitals. The Novi-based health system is watching the market in hopes of ...
Here’s John, in his own words: - Boston GlobeMy favorite search on MLSPIN is by “price per square foot”. I have been looking through that over the past few months and have found some gems. Problem is that the search usually results in a list of properties with street names I’ve never ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms