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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. View all Terms

Lee mortgage rates news:

Fannie, Freddie blind to the bubble - Rapid City Journal
WASHINGTON - Mortgage giants Fannie Mae and Freddie Mac _ despite their robust cadre of economists and mortgage experts _ failed to heed warnings that the most dramatic housing bubble in U.S. history would burst. The companies _ particularly Freddie ...

McCain's Annoying Little Fraud - Slate
( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...

'Fast Money' Recap: Gaming the Fannie Plan - Street.Com
Melissa Lee hosted CNBC's "Fast Money" Friday night. She started the show with a discussion on late-breaking news that the Treasury is planning to backstop Fannie Mae ( FNM - Cramer's Take - Stockpickr ) and Freddie Mace ( FRE - Cramer's Take ...

Unemployment Hits Five Year High - KNx 1070
WASHINGTON (AP)-- The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher in the months ahead, possibly throwing the economy into a ...

Unemployment climbs to 5-year high of 6.1 percent - Rapid City Journal
WASHINGTON - The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years _ and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin ...

Worsening Jobs Data Bode Ill for Stocks - Smart Money
With the dog days of summer behind them, our pundits returned to their desks this week ready to take a fresh look at the markets and the economy. They didn't like what they saw. J.P. Morgan strategist Thomas Lee warned that stocks could sag to lower ...

Don't Sell to Visitors From Corporate HQ - ClickZ
Are you trying to sell to your customers from your headquarters? If so, you're shortchanging your customers -- and yourself. Imagine you, a potential consumer of products or services from the Gap, GE, Citigroup, and Verizon, walked into the ...

Wall Street gets the jitters, again - Salon
By mid-afternoon Thursday, War Room reports, Republicans were claiming that Sarah Palin's speech to the Republican National Convention had encouraged $1 million in new online donations. Democrats, meanwhile, were promising that Barack Obama ...

September August July June May April March February January 2007 - Nypress.com
Well, it’s official: Rupert Murdoch (illustrated here in an episode of "The Simpsons") is the reigning king of corporate media and nothing sacred is safe from his grasp. According to The Wall Street Journal , News Corp has now secured enough votes ...

Obama: ‘I’m Not Going to Take Your Guns Away’ - Wall Street Journal
Christopher Cooper reports from Duryea, Pa., on the presidential race. The Obama campaign talks a lot about new ideas and expanding the political map, but in the swing state of Pennsylvania, which the campaign has focused on almost exclusively since ...