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AFP European equities soured by HSBC profits slump AFP - Frankfurt's DAX 30 slid 0.74 percent to 6349.20 points and in Paris, the CAC 40 lost 0.18 percent to 4306.69 nearing the half-way mark. ... Earthtimes (press release) Beacon Federal Bancorp, Inc. Announces Earnings for the 2nd ... MarketWatch - Jul 31, 2008 Although our ratio of non-performing loans to total loans increased to 0.52% at June 30, 2008 from 0.18% at March 31, 2008, it is still lower than our peers ... BankAtlantic Bancorp Reports Financial Results For the Second ... WELT ONLINE Bank of Hawaii Corporation Second Quarter 2008 Financial Results Trading Markets (press release) PAB Bankshares, Inc. Announces Second Quarter 2008 Financial Results FOXBusiness MarketWatch - MarketWatch all 1,039 news articles »  PROV - BFED - PABK Times Online - Auckland Hong Kong shares lower led by banks, commodity stocks; HSBC down 2 ... Forbes, NY - 35 minutes ago China financials were also down, with ICBC losing 0.05 hkd or 0.86 pct at 5.76, Bank of Communications down 0.18 or 1.83 pct at 9.67 and Bank of China down ... Hong Kong shares end morning higher on US Hemscott Hong Kong shares close off highs ahead of US data; Orient Overseas ... Forbes Hong Kong shares end morning higher on US lead; CNOOC, China COSCO ... Forbes Forbes all 296 news articles »  HKG:0316 - SHA:601919 WELT ONLINE Benjamin Franklin Bancorp Reports Results for Second Quarter of ... MarketWatch - Jul 23, 2008 The ratio of non-performing assets to total assets was 0.89% at June 30, 2008, compared to 0.40% at the end of the 2007 second quarter and 0.18% at year end ... Dime Community Bancshares Reports Earnings per Share of 26 Cents ... CNNMoney.com Weststar Financial Services Corporation Reports Exceptional Growth ... FOXBusiness Sterling Financial Corporation of Spokane, Washington, Announces ... MarketWatch MarketWatch - MarketWatch all 1,034 news articles »  STSA - SOCB - BFBC Mortgage REIT Insider: Loan Losses Hit Hard as CRE Bust Looms Housing Wire - Aug 1, 2008 (CMO: 10.94 +0.18%) cautioned that it sees spreads coming down about twenty basis points during the third quarter, as its short duration ARM assets reset ...CT - SFI WELT ONLINE Carolina Bank Holdings, Inc. Announces Improved Asset Quality and ... MarketWatch - Jul 16, 2008 Annualized net loan charge-offs to average loans held for investment were 0.13% and 0.09% for the first six months of 2008 and 2007, respectively. ... Rainier Pacific Financial Group, Inc. Reports Second Quarter Earnings CNNMoney.com United Financial Bancorp Reports Earnings Per Share of $0.12 and ... FOXBusiness City Bank Announces Earnings Results for the First Six Months of 2008 WELT ONLINE MarketWatch - MarketWatch all 467 news articles »  OTC:CMTX - VCBI - CLBH Earthtimes (press release) C&F Financial Corporation Announces Second Quarter Earnings and ... MarketWatch - Jul 25, 2008 "The 2008 earnings decline was also attributable to significantly higher provisions for loan losses at each of our core business segments," continued Dillon ... Enterprise Bank Announces Second Quarter Results FOXBusiness Bryn Mawr Bank Corporation Reports Increase in Second Quarter ... StreetInsider.com (subscription) all 373 news articles »  BMTC - CFFI - TBHS Halifax and Bank of Scotland cut loan rates for third time this month Times Online, UK - Jul 25, 2008 Most of the Halifax changes are in its tracker rates and three and five-year fixed rates, which are being cut by up to 0.18 points. ... Halifax cuts home loan rates again The Press Association - Jul 25, 2008 In its core range, it is cutting the cost of three- and five-year fixes by between 0.1% and 0.18%, to give a new three-year fixed rate of 6.24% for someone ... Halifax and Yorkshire BS cut rates Finance Markets all 75 news articles » HSBC H1 net profit falls 29 pct on US bad debts; outlook ... Trading Markets (press release), CA - Loan impairment charges and other credit risk provisions were 10.06 bln usd in the six months to June, 3.712 bln or 58 pct higher than the first half of ...HBC - HCS - EPA:HSB

Common Loan Programs

30 Year Fixed Rate Program

30 year fixed mortgage is a type of mortgage loan that is repaid by the borrower making 360 equal monthly payments over a period of 30 years. Since the borrower's payments are 'fixed', the borrower can expect to make the same monthly payment for the entire term of the loan. A 30 year mortgage loan is the most widely accepted program used to finance a residential purchase, and is available for conventional, jumbo, FHA and VA loans.

15 Year Fixed Rate Program

A 15 year fixed mortgage is a type of mortgage loan that is repaid by the borrower making 180 equal monthly payments over a period of 15 years. Since the borrower's payments are 'fixed', the borrower can expect to make the same monthly payment for the entire term of the loan. A 15 year mortgage loan is the most widely accepted program used to finance a residential purchase, and is available for conventional, jumbo, FHA and VA loans. 1, 3,5, 7, 10 Year Adjustable Rate Loan Programs

An Adjustable Rate Mortgage (ARM) is a mortgage loan that is most widely known for its low starting interest rate (when compared to the 30 & 15 year mortgage loans). This 'low' introductory rate is used to calculate the mortgage payment for a specified period of time. Once this introductory period is over, the interest rate is adjusted periodically based on a preselected index. The most commonly used index is the yield on the one-year Treasury Bill. The new interest rate is determined by adding this index to a set margin (which is determined by the lender). Although there are a variety of adjustable rate mortgage programs available,the most common program is the One Year Adjustable Mortgage (one Year ARM). The interest rate on the one year ARM is adjusted once each Year, for 30 years. APR's on variable rate loans are subject to increase but may decrease from year-to-year, the borrower should be prepared to handle an increase in his/her monthly payment (should the index rate increase). Jumbo Loan Programs

A jumbo mortgage is a mortgage loan which is larger than the limits set by Fannie Mae and Freddie Mac ($322,700 as of 1/1/2003). Since these two agencies will not purchase these types of loans, they usually carry a higher interest rate (to enhance their value and marketability to investors). FHA Loan Programs

An FHA mortgage loan is insured by the Federal Housing Administration(a division of the Department of Housing and Urban Development (HUD)). Although mortgage lenders provide the mortgage funds, the FHA sets underwriting standards for approving applicants. In many cases, FHA underwriting guidelines are more lenient than conventional (not government insured or guaranteed) underwriting guidelines. This leniency makes it easier for borrowers to qualify for a mortgage loan (low down payment requirements and a higher monthly debt allowance). FHA limits the types of loan programs it insures, but it will insure the more popular 30 year fixed, 15 year fixed and one year adjustable loan programs. However, borrowers are limited to the amount that they can borrow using an FHA-insured mortgage. Applicable loan limits differ by county, so contact your local HUD office for specifics. VA Loan Programs(Dept. of Veterans Affairs)

A VA mortgage loan is a mortgage loan that is guaranteed by the Department of Veterans Affairs (DVA). One of the biggest advantages of using a VA loan is that the borrower can finance the purchase of a property with no-money down. However, VA loans are restricted to individuals qualified by military service. The DVA will guarantee the more popular 30 year fixed, 15 year fixed loan programs. 5/25, 7/23 Balloon Programs

A balloon mortgage loan is a type of mortgage loan that has a short term (typically 5 or 7 years), but the monthly payment is computed using a 30 year term. When a borrower uses a balloon loan, he/she will make the monthly payment for the scheduled loan term (5 or 7 years). When this loan term is over, the borrower is required to pay off the remaining balance in one lump-sum payment. If the borrower decides not to sell the property after the loan term is over, the borrower has the option to refinance the mortgage with a new one. A 7/23 balloon mortgage gives the borrower the option to convert to a fixed rate program (for a nominal fee) after the initial term (7 years) is over. If the conversion feature is used, the interest rate for the remaining term of the loan (23 years) will be adjusted once to reflect market conditions, then remain fixed for the remainder of the loan term.