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Mortgage Interest Rates Move Up After Historic Fall

For the two weeks after the government takeover of Freddie Mac and Fannie Mae we saw a historic drop in mortgage interest rates. In fact it was the largest two week drop since 1995. This was after rates had been gradually falling for the previous two months on rumors of the takeover. After the drop, we saw rates increase pretty much across the board this week. Most fixed mortgage products did not see rates increase to the rates we saw two weeks ago; nonetheless the increases were pretty substantial.... Read more »

Last Bank Standing-The Wall Street Mega-Crash

Dateline Washington, October 19th (get it?) 2010: the Peoples Bank & Trust of America has now established itself as the only bank of any kind in the USA, totally owned and managed by the US House of Representatives. A 2/3 majority must now approve all investment banking transactions; your district representative’s staff reviews individual mortgage applications; and all 401(k), IRA, and remaining employer pension assets have been rolled into the Social Security Slush Fund. Only federal... Read more »

Escrow Management Services Maximize the Efficiency of Your Business, Whatever the Business

There’s no denying that keeping precise and auditable escrow transaction records can be a challenge. From recording receipts and writing checks to reconciling accounts or delivering statements, you may be in need of better solutions to organize and manage data, as well as keep a cap on administrative costs. While best known in the context of real estate, escrow can also come in the form of high value personal and business property, insurance, as well as monies distributed as a result of a... Read more »

Types Of Loans And The Factors Which Effect Them

A loan is a type of debt. This article focuses exclusively on monetary loans, although, in practice, any material object might be lent. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. The borrower initially does receive an amount of money from the lender, which they pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt.... Read more »

Effect of Annual Percentage Rate on Mortage Loan

Annual percentage rate (APR) is the simplified counterpart to the effective interest rate the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the “cost” of borrowing in some standardized way as a form of consumer protection. APR is intended to make it easier to compare lenders and loan options. The APR is likely to differ from the “note rate” or “headline rate” advertised by the lender, due to... Read more »

Basics Of Home And Commercial Mortgage

A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The term comes from... Read more »

Are Your Finances Prepared to Weather an Unexpected Storm?

Hurricane Katrina taught some important lessons three years ago. Most importantly, preparedness when it comes to health and safety are necessary issues on which to spend time and energy. However, when faced with an unexpected situation, people should also spend time on a financial preparedness plan. Wide-scale emergencies are not topics people want to necessarily think about. But take for instance, natural disasters as a result of hurricane, tornados, or floods have increased awareness on a national... Read more »

Bank Basics: Understanding the Various Types of Banks

Banking has changed in many ways through the centuries. The oldest forms of banking were often simple loans issued to businesses to purchase their goods. Once the goods were sold, the lender collected the money for the loan with interest. Today’s banks have diversified their services and products, with the goal of providing fast and efficient service. By putting a community’s surplus funds to work through deposits and investments, banks are able to assist individuals in purchasing cars... Read more »

Bank Basics: A Short History of Financial Institutions

For centuries, banks have influenced the economies and politics of the world. Traditionally, banks originated as places where businesses could secure loans to purchase inventory, and thereafter collect the funds with interest once the goods were sold. The origin of the word bank is derived from the Italian word, “banco” or desk. During the Renaissance, Florentine bankers conducted their transactions above desks covered in a green tablecloth. It has been speculated the earliest banks were... Read more »

Offshore Banks: Offering Low Tax Services With Confidentiality

An offshore bank is generally in a low tax jurisdiction (or a tax haven) that provides financial and legal advantages. These advantages typically include: * greater privacy (see also bank secrecy, a principle born with the 1934 Swiss Banking Act) * less restrictive legal regulation * low or no taxation (i.e. tax havens) * easy access to deposits (at least in terms of regulation) * protection against local political or financial instability While the term originates from the Channel Islands “offshore”... Read more »

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