FNMA limits adjustable-rate mortgages to curb payment shock
The Federal National Mortgage Association announced new caps on adjustable-rate mortgages to curb potential payment shocks. Caps limit rate increases to 4 percent over the loan or 2 percent per adjustment with a 5 percent overall cap, applying to annual adjustments. FNMA plans to offer these safeguards while maintaining ARMs as a tool for homeownership.
MENTIONED IN THIS ARTICLE
Washington
Federal National Mortgage Association
FNMA
Doug Bibby
Texas
California
Southeast
NLRB loosens rules on employer questions about unions
The NLRB 3-1 ruling overturns the 1980 principle that asking employees about union activities is inherently unlawful. It revokes the 1983 Jenson ruling involving Rossmore House in Los Angeles, where questioning Harvey about organizing was deemed a violation. AFL-CIO officials could not comment immediately.
MENTIONED IN THIS ARTICLE
National Labor Relations Board
Federal Board
NLRB
Afl-Cio
Texas
BOARD
Jenson
Tense muffler maker lands big GM order
AP Parts Co. won a $20 million contract to manufacture mufflers for General Motors medium duty trucks. The deal may recall about 70 of 150 workers laid off, with work starting January 1985 and lasting 18 months. No strike has occurred though labor tensions with UAW Local 14 remain high amid new work rules and pay cuts.
MENTIONED IN THIS ARTICLE
Toledo
AP Parts Co
United Auto Workers
General Motors Corp
UAW
Toledo seeks $4 million grant to restore Perry Hotel
Toledo officials said the city will request a $4 million Urban Development Action Grant from the federal government to aid a $20 million renovation of the mothballed Commodore Perry Hotel. Webb Corp., owner of the hotel, announced in January plans to restore the downtown landmark and reopen it as a 325 room hotel.
MENTIONED IN THIS ARTICLE
Toledo
the Webb Corp
Also Mentioned on This Page
Treasury
Bibby
Fannie Mae
David Maxwell
Texas Mortgage Bankers Association
Ft. Worth
Maxwell
Ington
James
Ees International Union
Rossmore House
Los Angeles
Warren Harvey
Harvey
MODEL
Elyria
Lorain
Koury Family
Batt Tonigh
Hes Dipy Kathy Bryan
George and
Robby Wort
Poodle
Ralph
Fier A! Grardim
Riley & Koury
Broadway
Formar Lorain County
Lorain Law
Lorain City
George J. Koury, Jr
Loran County
Lorain County
George Koury, Jr
Cntizen
Budgt
J. Osponski
Koury JA
James Couch
Stewarts
CANON
Fisher
Magnavox
SANYO
Sylvania
Toshiba
Stewart's
Cleveland St
Chronicle-Telegram
TV Update
PINE
the Chronicle-Telegram
East Ave
Ohio
Cleveland
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