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Lawmaker is working to improve loan modifications - The Associated PressLawmaker is working to improve loan modificationsThe Associated Press"Some of the banks, we fear, are just sitting there hoping that the market recovers and they get back in the money," said Michael Calhoun, president of the ...Big lenders have big problems helping borrowers facing foreclosureHULIQGiant bank, giant struggle in providing mortgage help: Foreclosure-assistance ...Trading Markets (press release)Lawmaker is working to improve loan modificationsThe Associated Pressall 145 news articles »
AIG Units Settle Discrimination Case - Wall Street JournalAIG Units Settle Discrimination CaseWall Street JournalMike Calhoun, president of the Center for Responsible Lending, a consumer-advocacy group, said that according to government data from 2002 to 2007, ...and more »
Financial Reform Bill Wins Mixed Praise - Consumer AffairsFOXNews (blog)Financial Reform Bill Wins Mixed PraiseConsumer AffairsMichael Calhoun, President of the Center for Responsible Lending, called it a step in the right direction. "More than a year ago, taxpayers bailed out the ...Almost thereEconomistall 1,911 news articles »
UConn men bounced from Big East Tournament - Waterbury Republican AmericanUConn men bounced from Big East TournamentWaterbury Republican AmericanIt was coach Jim Calhoun's worst loss in tournament history and UConn's worst defeat since a 93-62 loss to Georgetown in 1985. The following are comments ...and more »
To Protect or Not to Protect? The Answer Depends on How You Ask the Question - Huffington Post (blog)To Protect or Not to Protect? The Answer Depends on How You Ask the QuestionHuffington Post (blog)Second, regulators missed the warning signs of the development of a housing bubble, therefore dismissing concerns over mortgage loans built on the idea that ...and more »
Witness says he was told to cheat - Jackson Clarion LedgerWitness says he was told to cheatJackson Clarion LedgerA participant in an alleged multimillion dollar mortgage scheme testified Wednesday that Mark Calhoun advised him to change the numbers on a house for sale. ...
Consumer Agency Within Fed Seen as Victory for Banks - BusinessWeekConsumer Agency Within Fed Seen as Victory for BanksBusinessWeek“We were yelling at them in 2001 and 2002” to use their authority, says Michael Calhoun, president of the Center for Responsible Lending in Durham, ...and more »
Trio of local businessmen face fraud charges - WLBT-TVTrio of local businessmen face fraud chargesWLBT-TV54-year-old Mark Calhoun owns Silver Cross Financial Group in Ridgeland. J. Larry Kennedy and his son Keith Kennedy operated a loan closing and title ...
US mortgage delinquencies remain at record levels - Canadian Mortgage Broker Newsal.com (blog)US mortgage delinquencies remain at record levelsCanadian Mortgage Broker NewsOne in 10 borrowers is seriously delinquent on their US mortgage, with their payments at least 90 days past due or in foreclosure. ...MBA report shows 1 in 10 mortgages now delinquent or in foreclosureRealEstateRamaall 17 news articles »
Common Pleas for 3-14 - The ReviewCommon Pleas for 3-14The ReviewDavid Dissette, etc.; delinquent property tax foreclosure ordered for properties on Leeper Road, Line Avenue and Calhoun Street, all East Liverpool, ...

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Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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