I. noun
COLLOCATIONS FROM OTHER ENTRIES
a mortgage payment (= a payment towards a loan on your house )
▪
Your mortgage payments could fall if interest rates drop.
a mortgage rate (= the rate charged by a bank on a loan to buy a house )
▪
Higher mortgage rates should slow down the rapid rise in house prices.
foreclose on...mortgage
▪
Building societies may foreclose on a mortgage if payments are not kept up.
mortgage repayments
▪
monthly mortgage repayments of £330
offset mortgage
rent/mortgage/tax arrears
▪
He was ordered to pay rent arrears of £550.
Subprime mortgages (= loans to buy a home )
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Subprime mortgages are granted to individuals who would not qualify for a conventional mortgage.
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
adjustable
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Consumers will see lower rates on home equity loans and adjustable rate mortgages .
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Meanwhile, the average adjustable mortgage rate rose to 5. 48 percent from 5. 45 percent a week earlier.
big
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Who would accept a house with such a big first mortgage as collateral?
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If so, dig them out now because they could help you get a bigger mortgage .
▪
Abbey National, the second biggest mortgage lender, said claims for their cover must be made within four months.
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And this time, more people with high-flying lifestyles and big mortgages to match are among the unemployed.
existing
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Parents with an existing mortgage are eligible, so long as they still own a large enough chunk of the equity.
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With HeadStart 531 you needn't simply match your existing mortgage .
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Packet You'd think that adding £6,000 on to their existing mortgage of £36,000 would cost them a packet.
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Similarly, high interest rates may discourage householders from taking on new mortgages , but existing mortgages are unlikely to be reduced.
high
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But some warned that the impact of higher mortgage rates on wage negotiations risked increased pressure on prices in the months ahead.
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That disparity was due to the high level of mortgage lending at Bankinter.
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However, it adds, an even greater risk is that higher mortgage rates will add to wage pressures.
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Worst hit will be the South, where people with high mortgages have been most affected by the recession.
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They have been encouraged to purchase houses with high mortgages , and they are now desperate and worried.
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Mr D'Avila says Labour will help people who're trapped by high mortgages and the property crash.
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The currency crisis, with higher mortgages and interest rates, means that consumers have far less disposable income.
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They have high mortgage costs, high rents, high transport costs and high bills of many varieties.
large
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The smaller rises from the largest two mortgage lenders will deter other societies from following the Yorkshire's move.
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It protects lenders and large mortgage investors if the borrower defaults on the mortgage.
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With household costs inevitably rising, the last thing he wants is a larger mortgage than he can reasonably afford.
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Our largest housing subsidy-the mortgage interest tax deduction-is the equivalent of a voucher.
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So the largest mortgage she or he could safely take out would be about £94,000.
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He had a baby, a pregnant wife, and a new house in London with a large mortgage .
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It is not difficult to see that a smallholding can not support a large mortgage as well as a family!
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There was a time when, with babies and a large mortgage we had to do it.
low
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But lower mortgage rates for everyone else just push up the price of homes.
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Analysts said lower mortgage rates have helped to spur demand for housing even as other parts of the economy have slowed.
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Helped along by the lowest mortgage rates in 20 years, those numbers grew during the fourth quarter of last year.
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The lower mortgage rates have sparked a surge of refinancing and purchase activity.
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Realtors are pinning their hopes for another banner year on low mortgage rates.
new
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Nonconformist borrowers were thrown a lifeline only five years ago when this new breed of mortgage lender was born.
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They persuaded investors, such as insurance companies, to buy the new mortgage bonds.
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A NEW mortgage deal from Bristol &038; West offers a rate of 8.5% reducing to 6.5% by April 1994.
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The thrift could make new mortgage loans at 14 percent while taking in money at 12 percent.
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Payment, when approved, is effective from the date of the new mortgage .
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While the rest of the firm gradually acquired a new persona, mortgages remained more trenchantly the same.
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I don't want to have to take out a new mortgage every time I move up the ladder.
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The minimum loan for new mortgages at the fixed rate is £25,000.
■ NOUN
application
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The Halifax says that mortgage applications this year are 40% up on 1992.
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This is simply not the case and you will probably have to wait to hear if your mortgage application has been approved.
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If you so much as parked on a yellow line they stuffed a mortgage application under your windscreen wipers.
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Make it compulsory or at least encourage lenders to process mortgage applications within two weeks.
▪
Having the test can have serious implications for insurance and mortgage applications .
arrears
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The Harrises were given two weeks to pay off mortgage arrears of £8,000.
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The Harris family had been given just two weeks to find eight thousand pounds in mortgage arrears .
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Three quarters involved unpaid rent or mortgage arrears .
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Inequality Building society mortgage arrears have risen considerably in the last few years.
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The Future 90 deal is available to borrowers who have £1,000 of county court judgments and three months of mortgage arrears .
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This year 75,000 people have lost their homes through mortgage arrears .
▪
To deal with priority debts - rent and mortgage arrears , heating and lighting.
broker
▪
Ray Boulger, of Charcol, the mortgage broker , likes Bristol &038; West's capped rate loan.
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Lo, 48, a real estate mortgage broker , faces a bail hearing Wednesday in the fraud case.
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If you want to know exactly how much money you could save by remortgaging, an independent mortgage broker can help.
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The on-line provider of home financial services and discount mortgage broker acquired Cybersight and its FlyerWare software.
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Special deals have become universal, spread by the increasing power of mortgage brokers .
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She went to work as a receptionist for a mortgage broker in east Los Angeles.
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Not so high profile are the centralised lenders, who operate through mortgage brokers and insurance companies.
company
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They now wait to see if the mortgage company Dorend will apply for possession.
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The report also outlined the role agricultural cooperatives, the largest creditors to the mortgage companies , played in the fiasco.
▪
Last week the deadline for finding eight thousand pounds to pay back a loan from a mortgage company expired.
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As a group, the cooperatives are the largest creditors to the mortgage companies .
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It is now possible to rely on the survey that the mortgage company will arrange.
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Her mortgage company has twice threatened to foreclose on her north Houston home, which serves as her company headquarters.
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The mortgage company had acted with forbearance, only taking them to court as a last resort.
debt
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A million families have insolvency hanging over them as their mortgage debts have grown greater than the values of their homes.
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Among young homeowners, the mortgage debt typically equals 78 percent of the house value.
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The couple's flat in Wandsworth was worth £64,000 against a mortgage debt of £83,000 when the bank gave notice of repossession.
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Borrowers were told that policies might not only clear their mortgage debt but might also give them an additional lump sum.
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Excluding mortgage debts , the average adult owed £1,000 in 1979 - today, he owes more like £2,250.
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People threatened with repossession because of mortgage debts now make up one in seven of their cases.
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Job fears and the mortgage debt trap are failing to halt the housing slump.
deed
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We would give the same construction to the comparable provisions in the other mortgage deeds .
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In the mortgage deed the respondents further covenanted that they would purchase all their requirements from the appellants exclusively.
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Accordingly, we would construe the guarantee and debenture in the same way that we have construed the mortgage deeds .
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In the Esso case, the restraint in a supply and purchase contract was reinforced in a mortgage deed .
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Again, the appropriate mortgage deed will be sewn into the back of the certificate.
department
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The government trading desk was a counterpoint to the visible gluttony and ethnicity of the mortgage department .
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Even Larry Stein, whom Smith had introduced to the mortgage department , quit in disgust.
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Next to the rest of the firm, however, the mortgage department looked like the United Nations.
▪
Mark Smith, Voute and Strauss's man in the mortgage department , took note.
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Up to the point of his transfer to the mortgage department , Ranieri had dominated every department he had joined.
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They had been invited to address the thrifts by the mortgage department .
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The mortgage department became a white brotherhood apart.
endowment
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Loan secured by endowment mortgage , minimum age 20 years.
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The Bristol &038; West have now gone one better than the standard endowment mortgage .
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And the Financial Ombudsman Service this week published a briefing note for firms handling endowment mortgage complaints.
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I know that's the general idea of an endowment mortgage .
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Pension Mortgage Similar to an endowment mortgage in that you pay interest only to the lender.
home
▪
Lower interest rates, for example, spur car loans and home mortgages .
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Nevertheless, in I978 on Wall Street it was flaky to think that home mortgages could be big business.
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The CE0s of home mortgages were savings and loan presidents.
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Forbes would keep it pure, getting rid of the home mortgage , medical expense and charitable deductions and everything else.
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These so-called always deductible expenses usually consist of home mortgage interest and real estate taxes.
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Federally insured thrifts that traditionally had limited their investments to home mortgages began bingeing on highly speculative investments.
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But his plan calls for a 16 percent tax on income that would retain deductions for home mortgage interest and charitable contributions.
interest
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Home ownership is our dominant way of living, so most of us are buying, selling or paying mortgage interest .
▪
The mortgage interest deduction, for example, subsidizes home ownership, as does the deduction for property taxes.
▪
Less than a decade ago, no Tory minister dared threaten the tax break on mortgage interest .
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Forbes would eliminate all loopholes, including the popular mortgage interest deduction aimed at encouraging home ownership.
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These totals exclude mortgage interest and disregarded income, for example, attendance allowance.
▪
Still, concern about home-buying is why Alexander charges that eliminating the mortgage interest deduction would cause a real-estate crash.
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Aside from those who can pay cash, ability to pay is an amalgam of income and mortgage interest rates.
▪
Our largest housing subsidy-the mortgage interest tax deduction-is the equivalent of a voucher.
lender
▪
Nonconformist borrowers were thrown a lifeline only five years ago when this new breed of mortgage lender was born.
▪
Shares in the mortgage lender vaulted 3 to 122.
▪
The smaller rises from the largest two mortgage lenders will deter other societies from following the Yorkshire's move.
▪
The market was given a boost by falling interest rates and growing competition by mortgage lenders .
▪
If you are having difficulty making your repayments, always seek help from your mortgage lender before matters get too out of hand.
▪
Abbey National, the second biggest mortgage lender , said claims for their cover must be made within four months.
▪
The following pages of Charts are designed to help you select a mortgage lender .
loan
▪
As Table 4.1 shows, over 80 percent of building society assets consist of mortgage loans for the purchase of property.
▪
Hundreds of lawsuits have been filed by homeowners across the country alleging mortgage loan fraud.
▪
Building societies' major assets are mortgage loans .
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To take advantage of it, however, the thrifts had to sell their mortgage loans .
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The wife and kids, the mortgage loan , the car payments.
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Loan counselors using the Internet assist in selecting the right mortgage loan.
▪
Bit IFAs can also arrange mortgage loans through the high-street lenders.
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It has $ 42 billion in outstanding mortgage loans among 502, 000 families in metropolitan Los Angeles.
market
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The mortgage market is awash with great money-saving deals as lenders compete fiercely to attract borrowers.
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It was invented in June 1983, but not until 1986 did it dominate the mortgage market .
▪
Of course, the mortgage market today is neither so generous nor so vague.
▪
With his appointment in mid-I978, the story of the mortgage market as it is conventionally told within Salomon Brothers commences.
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The mortgage market has become a more competitive arena in the years since the early 1980s.
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But whole loans were ninety-nine-point-nine percent of the entire mortgage market .
▪
These constraints arise from the non-existence of a perfect annuity market and the nonexistence of perfect rental and mortgage markets.
▪
The executive committee members of Salomon Brothers decided the mortgage market was bad news.
payment
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The premium is usually paid monthly to the Society along with your mortgage payment .
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Well, I hope I can chip in on the mortgage payments .
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Q Thank you for your interesting article on mortgage payment calculations.
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Your goal should be to charge enough rent to cover the mortgage payment , maintenance and other expenses.
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This may, for instance, be in the form of an endowment policy or a mortgage payment protection plan.
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Instead of making a mortgage payment monthly, make half a payment every two weeks.
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Are school fees provided for, and mortgage payments ?
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Maybe this Local did make mortgage payments .
rate
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Firstly, the cost of fixed-#rate mortgages can be a little higher than that of a variable deal.
▪
Consumers will see lower rates on home equity loans and adjustable rate mortgages .
▪
The other option is a capped-#rate mortgage which can provide the best of both worlds.
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Her $ 621 fixed rate mortgage is almost $ 200 less than her old monthly rent.
▪
Borrowers with standard variable rate mortgages could make substantial savings by remortgaging their properties, mortgage experts say.
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Unlike most fixed-#rate mortgages , it allows borrowers to pay off the loan and move home at any time.
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With standard variable rate mortgages , lenders can be quite slow to cut their rates.
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Undoubtedly, a fixed rate mortgage would also appeal to Linda's cautious nature.
repayment
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Just like a repayment mortgage , the interest rates can change, and this will affect your monthly payment.
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The repayment mortgage is the traditional method of arranging a mortgage where capital is repaid by level monthly instalments together with interest.
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Assuming a standard loan rate of 14.75 percent, a typical £60,000 repayment mortgage would cost £669.77 per month.
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After your second or third mortgage , you may feel ready to branch out from the standard endowment or repayment mortgage.
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But there are drawbacks to the repayment mortgage .
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It's not just that he makes more commission by selling you an endowment rather than a repayment mortgage .
security
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Crisscrossing the country, trying to persuade institutional investors to buy mortgage securities , Ranieri bumped into Milken.
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They wheeled in the rocket scientists, who started to carve up mortgage securities into itty-bitty pieces.
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Those early repayments, or prepayments, cut short the lives of mortgage securities and can reduce their returns.
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Yet by the middle of 1986 First Boston could boast about the same market share in mortgage securities as Salomon Brothers.
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Though the conditions of supply had changed overnight in October 1981, the conditions of demand for mortgage securities had not.
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Dall established himself as the Salomon Brothers authority on mortgage securities in September I977.
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Congress gave him permission to sell his mortgage securities in every state, but to his more radical proposition it said no.
▪
He remembered the way the old boss, Bill Simon, had treated the first mortgage securities .
tax
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However, he blew cold again on home loan borrowers by reducing the rate of mortgage tax relief by five full points.
▪
The only trouble was that under questioning it became clear that one of his central aims was to abolish mortgage tax relief.
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We will maintain mortgage tax relief.
▪
A rise of 1 percent in interest rates adds £400-500 million annually to the cost of mortgage tax relief.
■ VERB
back
▪
Banks are issuing a stream of securities backed by mortgages , credit-card receivables and other assets stripped off their balance sheets.
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If asset-#backed loans such as mortgages are included, that coverage jumps to 128. 4 percent.
buy
▪
Buyers stopped buying as mortgages were so expensive.
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Crisscrossing the country, trying to persuade institutional investors to buy mortgage securities, Ranieri bumped into Milken.
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Lenders typically require you to buy mortgage insurance, if you put down less than 20 percent on a home.
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They persuaded investors, such as insurance companies, to buy the new mortgage bonds.
▪
That explains why thrifts continued to buy mortgage bonds even as they sold their loans.
cover
▪
If she could get the same amount for her flat, then that would cover the mortgage .
▪
Your goal should be to charge enough rent to cover the mortgage payment, maintenance and other expenses.
▪
One company which has stopped covering mortgage payments is Cornhill, which supplied mortgage policies to lenders Lloyds Bank.
fall
▪
Under an informal family arrangement they paid the mortgage instalments falling due under the local authority mortgage.
▪
Buying a home could become more expensive, some economists say, even though housing prices and mortgage rates would fall .
▪
The advantage is that whenever interest rates go down, your mortgage payments will automatically fall .
▪
Fifteen-year mortgage rates fell to 6. 53 percent, down from 6. 59 percent in the prior week.
▪
The underlying rate, which excludes mortgages , fell 0.2 percent to 3.8 percent - the lowest for four years.
▪
The instruments are a hedge against decreases in mortgage servicing fees as borrowers prepay their mortgages when rates fall .
fix
▪
Firstly, the cost of fixed-rate mortgages can be a little higher than that of a variable deal.
▪
Her $ 621 fixed rate mortgage is almost $ 200 less than her old monthly rent.
▪
Unlike most fixed-rate mortgages , it allows borrowers to pay off the loan and move home at any time.
▪
With luck, market forces will make this switch from short-term to fixed-rate mortgages .
help
▪
The following pages of Charts are designed to help you select a mortgage lender.
▪
Lower fed rates help keep mortgage rates low.
keep
▪
Schemes vary, but usually you keep on your mortgage by holding back a nominal amount, say £1.
▪
Lower fed rates help keep mortgage rates low.
▪
You'd also still have to keep up mortgage payments, even though you were paying out on your new house as well.
▪
Engelstad said lenders are urged to work with borrowers who are serious about keeping the mortgage .
▪
Somehow, he manages to keep up with mortgage payments of $ 24, 000 a month on his Rockingham Avenue estate.
obtain
▪
It may be that you choose to obtain a mortgage , second mortgage or a loan from a bank.
▪
Nine people have been charged with conspiring to obtain mortgage advances by deception from various building societies.
▪
The precise timing will depend on the convenience of one's clients and the need to obtain a mortgage advance cheque.
▪
Home income schemes involved using funds obtained via a mortgage to be re-invested to pay off the loan and provide additional income.
▪
A surveyor wrote a report the size of a small book, and they had difficulty in obtaining a mortgage .
▪
Customers used a touch screen to obtain information on mortgages , pensions and investments.
offer
▪
By itself offering you a mortgage .
▪
Under the reorganization plan, El Paso Electric will repay creditors using proceeds from an underwritten public offering of mortgage bonds.
▪
Some have gone even further and are offering free mortgage protection insurance for new borrowers.
▪
Estate agents also offer a mortgage service.
▪
Not so long ago lenders were falling over each other to offer mortgages .
▪
But they may be offered a self-certified mortgage instead.
pay
▪
You are a suitable candidate for remortgaging if you are one of the many millions who pay the standard variable mortgage rate.
▪
But paying down your mortgage leaves less money, so establish a home equity line of credit first.
▪
A housewife has asked us if she should pay off her mortgage now, while she can still afford to do so.
▪
She no longer talked of needing funds to support herself or to pay off the mortgage on a ranch somewhere in Texas.
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Under an informal family arrangement they paid the mortgage instalments falling due under the local authority mortgage.
▪
Of course, they were the perfect homeowners who never missed a payment, and ultimately paid off the mortgage .
▪
Are you happy to be helping to pay another person's mortgage ?
▪
Mortgage savings Homeowners could save the money they pay for unnecessary private mortgage insurance under legislation passed by the Senate Banking Committee.
raise
▪
The only cloud on the immediate horizon is raising a mortgage - especially if you are a first time buyer.
▪
The sale of his flat should raise , once the mortgage was repaid, something in the region of £20,000.
▪
For such clients raising a second mortgage to pay off the credit card debt often seems the only answer.
▪
If the bigger societies feel their savings are threatened they would raise their mortgage rates to compete.
▪
To pay for this he raised a mortgage of £500 on his house.
repay
▪
Red letter customers need to witness investment returns greater than 8 per cent to stand any chance of repaying their mortgage .
▪
This is an insurance that repays the mortgage in full should the person paying the mortgage die.
▪
Every pound you repay on your mortgage offers a guaranteed rate of return of 11.5 per cent.
▪
The most tax efficient way of repaying a mortgage is the pension mortgage.
▪
The figure you place in the final column is how much you can afford to spend repaying a mortgage every month.
sell
▪
Home ownership is our dominant way of living, so most of us are buying, selling or paying mortgage interest.
▪
Then Ranieri persuaded the firm to give him a sales force to sell the godforsaken mortgages he was being asked to trade.
▪
Eleven days ago, the second largest lender, the Abbey National, stopped selling mortgage protection insurance to its existing borrowers.
▪
To take advantage of it, however, the thrifts had to sell their mortgage loans.
▪
You are paid to sell mortgages !
▪
Congress gave him permission to sell his mortgage securities in every state, but to his more radical proposition it said no.
▪
Investors typically sell mortgage bonds as rates decline because they fear low rates will prompt homeowners to refinance.
take
▪
In March, Day announced he had taken out a second mortgage to pay back some of the money.
▪
Even the most wealthy moguls and healthy corporations will take out loans or mortgages to finance homes and equipment.
▪
It is usual when taking out a mortgage to arrange adequate insurance cover in the event of death.
▪
He took out a second mortgage , and off they went.
▪
It is like taking out a mortgage: we have to repay the loan many times over.
▪
They took out a mortgage without telling the older couple.
▪
I don't want to have to take out a new mortgage every time I move up the ladder.
▪
Most repossessions take place within the first three years of taking out a mortgage .
EXAMPLES FROM OTHER ENTRIES
▪
Anyone taking out a mortgage should be aware that interest rates can go up at any time.
▪
It took my parents nearly thirty years to pay off their mortgage .
▪
Nick told me the mortgage on his apartment is worth about $90,000.
▪
The mortgage payment will be around six hundred dollars a month.
▪
The bank says we have to buy a life insurance policy before we can get a mortgage .
▪
We still have a $180,000 mortgage on the house.
EXAMPLES FROM CORPUS
▪
Abbey National offer self-build mortgages, which can either be straight repayments or endowment or pension linked.
▪
Employees who are not at present house-owners may be entitled to a mortgage allowance in certain exceptional circumstances.
▪
If asset-backed loans such as mortgages are included, that coverage jumps to 128. 4 percent.
▪
Make it compulsory or at least encourage lenders to process mortgage applications within two weeks.
▪
Remember the mortgage itself isn't a debt, and so the compensation scheme doesn't apply.
▪
The mortgage department had neither friends nor profits.
▪
The thrifts paid a fee to have their mortgages guaranteed.
II. verb
COLLOCATIONS FROM CORPUS
■ NOUN
future
▪
But, in practice, if allowed to get out of hand, it firmly mortgaged the future .
▪
There's a pool of talent in this area most employers can draw from without mortgaging their financial future , Miller said.
rate
▪
Leading lenders were last night warning they may not be able to pass on any further rate reductions to mortgage holders.
▪
More likely, interest rates fell, and the entire neighborhood refinanced its thirty-year fixed rate mortgages at the lower rates.
EXAMPLES FROM OTHER ENTRIES
▪
We mortgaged our house to start Paul's business.
EXAMPLES FROM CORPUS
▪
It borrowed so heavily that the greater part of its peacetime revenue was mortgaged to service and repay its debt.
▪
Should you mortgage the family home?