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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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Power home equity loans news:
Stocks to watch: Satyam, BPCL, SBI, Tata Power - Economic TimesMUMBAI: Stocks are likely to get a sentimental leg-up Monday in reaction to the Reserve Bank of India's move to slashed its main interest rates by 1 per cent each and a series of steps by the government to bring more funds into the economy, which has ...
Delays keeping New Orleans-area solar power systems in the dark - New Orleans Times-PicayuneJennifer Zdon / The Times-Picayune Thomas Koch's Fontainebleau home is one of only 16 that has a special meter that allows property owners to sell power back to Entergy. Solar panels have blanketed the southern side of the roof of Thomas Koch's ...
Lyondell Chemical Cites Falling Demand for Bankruptcy (Update1) - BloombergJan. 7 (Bloomberg) -- Lyondell Chemical filed for bankruptcy protection citing waning demand for its products and asked for court approval of an $8 billion loan to help fund operations while it reorganizes. The Chapter 11 filing yesterday was ...
Lacker Says Fed Loan Programs ‘Fraught With Risks’ (Update3) - BloombergJan. 9 (Bloomberg) -- Richmond Federal Reserve Bank President Jeffrey Lacker warned that the central bank should avoid using its balance sheet to finance a fiscal stimulus plan, saying such a strategy is “fraught with risks.” “Many historical ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. President George W. Bush entered office in 2001 just as a recession was starting, and is preparing to leave in the middle of a long one. That ...
Best Buy Company Inc. - Orlando SentinelThis week more than 2,700 companies will descend on Las Vegas to show off the latest computers, cell phones, GPS systems, TV sets and other gadgets at the largest consumer-technology exhibition in the world. Many of the products at the 2009 ...
Hayward's OptiSolar lays off 300 - Contra Costa TimesOptiSolar Inc., which only last fall had the trappings of a solar energy powerhouse, disclosed on Friday that it has laid off nearly 300 workers in Hayward and Sacramento because the frozen capital markets have chilled its expansion. Hayward-based ...
UPDATE 1-PRESS DIGEST - China - Jan 9 - ReutersBEIJING/SHANGHAI, Jan 9 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy. SHANGHAI SECURITIES NEWS -- The latest ...
Housing crash sees 330,000 London owners facing net loss on property - Evening StandardMORE than a third of a million homes in London are already worth less than their owners paid for them, analysis by the Evening Standard shows today. The property market collapse has sent average values tumbling to levels last seen in June 2006 ...
Rates are low, but loans difficult to get - San Jose Mercury NewsMortgage rates are at their lowest level in decades, but thousands of Silicon Valley residents are discovering that qualifying for a loan is tougher than it has been in years. Banks are reluctant to lend at favorable rates to all but the most bullet ...
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