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Today's Mortgage Terms starting with F

Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac):

A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.

Federal Housing Administration (FHA):

A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.

Federal National Mortgage Association (FNMA or Fannie Mae):

This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.

FHA Loans:

Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.

First Mortgage:

A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.

Fixed Rate Loan:

Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.

Foreclosure:

A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.

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Jackson mortgage loan news:

Column: Mortgage thieves come back - Jackson Sun
First come the shady operators, then comes the collapse, then comes the bailout, then come the shady operators. That, too often, is the sad history of financial meltdowns and their cleanups. The closing days of the Bush administration offer the ...

9:43 a.m. Hood-Bankruptcy - Meridian Star
JACKSON, Miss. (AP) — Mississippi's attorney general has joined with his counterparts in several other states to urge Congress to amend U.S. bankruptcy law to allow federal bankruptcy courts to protect families from foreclosure. Attorney General ...

Mississippi AG, others urge bankruptcy change - Hattiesburg American
JACKSON — Mississippi's attorney general has joined with his counterparts in several other states to urge Congress to amend U.S. bankruptcy law to allow federal bankruptcy courts to protect families from foreclosure. Attorney General Jim Hood said ...

Should Uncle Sam Seize Mortgage Securities? - Forbes
Democrats are clear about this much: They believe the banks and the Bush administration have done too little to halt home foreclosures and they intend to do more. The source of the funds is clear too. House Financial Services Chairman Barney Frank, D ...

Vibrant to Vacant: Foreclosures drain community - East Valley Tribune
Dora Gamez, a resident of The Village at Copper Basin in Pinal County talks about her husband having to leave the state to get work to help pay the mortgage on their home. The mortgage crisis is emptying out East Sierrita Road. Families are leaving ...

Sour economy boosts demand for tax refund loans - Atlanta Journal Constitution
Signs of the tough economic times aren’t hard to find these days, from foreclosure notices plastering neighborhoods to long lines at unemployment offices. Add to the list: local tax preparation offices. A huge crowd packed a Jackson Hewitt office ...

'Sin City' feeling downturn - Pottstown Mercury
No comments posted. Lavana Jackson, 52, a souvenir shop manager, waits for the traffic signal while walking to a bus stop to catch a bus home in Las Vegas. **ADVANCE FOR WEEKEND, JAN. 2-4** Elvis impersonator Jesse Grice walks down the Fremont Street ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Semiconductor giant Intel Corp.’s latest warning, its second this quarter, signals the severity of the economic woes world-wide. “If you ...

Realtors: Buy Now - Warren Times-Observer
Despite the current economic crisis, mortgage rates have dropped significantly since the Federal Reserve recently unveiled a plan to buy up to $500 billion of mortgage securities backed by government-sponsored enterprises Fannie Mae , Freddie Mac and ...

Comments are listed in order posted - Austin Chronicle
See more comments and discussion in our Forums Browse All Comments, Newest First Gloomy Outlook | open postmark Dear Editor, Interesting turn of events that Rod Blagojevich nearly gave Jesse Jackson Jr. Barack Obama's Senate seat. Jackson was one of ...