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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

Washington mortgage rates news:

Government plan for Fannie, Freddie to hit shareholders - Washington Post
WASHINGTON (Reuters) - The U.S. government plans to takeover Fannie Mae and Freddie Mac and all shareholders of the two mortgage giants will take a hit, an influential lawmaker said on Saturday. The move to take control of the two companies, which ...

See today's average credit card rates across the country. - MSNBC
TERRE HAUTE, Ind. - The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as this weekend, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous ...

Mortgage giants were blind to housing risks - MSNBC
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 ...

Treasury to Rescue Fannie and Freddie - Washington Post
Treasury Secretary Henry Paulson briefed presidential candidates John McCain and Barack Obama on plan. (Pool Photo By Simon Dawson Via Getty Images) The Bush administration yesterday prepared to take over the troubled housing finance companies Fannie ...

Mortgage giants were blind to the bubble - Globe and Mail
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 ...

30-year mortgage rates decline for a third week - Boston Globe
WASHINGTON - Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac , the mortgage company, reported yesterday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from ...

Treasury briefs candidates on plan to seize Fannie, Freddie - Miami Herald
WASHINGTON -- The widening housing crisis took center stage on the presidential campaign trail Saturday after the Treasury Department confirmed to the candidates it was preparing a historic seizure of mortgage finance giants Fannie Mae and Freddie ...

Rates on 30-year mortgages decline to the lowest level since mid-July ... - Chicago Tribune
WASHINGTON (AP) _ Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down ...

Nation briefs - Detroit News
WASHINGTON -- Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from ...

Mortgage finance companies Fannie Mae, Freddie Mac failed to ... - Grand Forks Herald
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.