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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

Lewis mortgage loan news:

Interest Rates On 30-Year Fixed Mortgage Loans Down For 10th Straight ... - All Headline News
Washington, D.C. (AHN) - A recent Freddie Mac poll showed that average mortgage rate in the U.S. has gone down to 5 percent, its lowest level in decades. It was the 10th straight week that the mortgage lending rates on 30-year fixed loans declined ...

Brokers Disdain Toaster Salesmen in Bank America’s Merrill Deal - Bloomberg
Jan. 9 (Bloomberg) -- When Kenneth Lewis , chief executive officer of Bank of America Corp ., unveiled the acquisition of Merrill Lynch & Co. on Sept. 15, he called its 16,000-strong brokerage group the firm’s “crown jewel.” Only a month later ...

Park National Corporation Grows Ohio Loans by $215 Million in 2008 - MSN MoneyCentral
NEWARK, Ohio, Jan. 9, 2009 (GLOBE NEWSWIRE) -- Park National Corporation's (Park) (NYSE Alternext US:PRK) 12 community banking divisions in Ohio reported an excellent increase in loans closed in the past month and past year. Park's loans in Ohio ...

RATTNER BLOWOUT - New York Post
Steve Rattner is said to be in line to become the new White House car czar - but he faces a sticky conflict of interest surrounding a bitter $125 million fight with Chrysler's owner. The Wall Street titan surfaced yesterday as a leading candidate for ...

'MIKE AND JULIET' CANCELED - New York Post
SAY goodbye to " The Morning Show with Mike and Juliet ." Twentieth Television has canceled the talk show (Mike Jerrick, Juliet Huddy) after two seasons. It will end production in June with new episodes airing throughout the summer, according to ...

Bank of America Is New No. 1 Bank - AOL
NEW YORK (Jan. 1) -- Bank of America Corp. completed its purchase of Merrill Lynch & Co. Thursday, creating the largest U.S. bank and perhaps one of the biggest challenges yet for longtime Chief Executive Kenneth Lewis. Mario Tama, Getty Images The ...

US bank industry slams lawmaker-Citi mortgage deal - Guardian Unlimited
ABA is opposed to the agreement because it will leave in place overly broad mortgage cram-down authority and other provisions that will harm thousands of banks across the country that have made, and continue to make, good loans," said Floyd Stoner ...

Fannie, Freddie Extend Suspensions of Foreclosures - Street.Com
WASHINGTON -- Mortgage giants Fannie Mae ( FNM Quote - Cramer on FNM - Stock Picks ) and Freddie Mac ( FRE Quote - Cramer on FRE - Stock Picks ) will extend the suspension of foreclosure sales and evictions from single-family homes through the end of ...

Credit Card Defaults Rise Again in December - Street.Com
NEW YORK -- U.S. consumers fell further behind in paying off credit cards last month, a trend that's expected to worsen this year amid growing unemployment, Fitch Ratings said Wednesday. More on Banks Paulson Says Fannie, Freddie Need to Change ...

The weekend Wall Street died - Charleston Post & Courier
NEWPORT, R.I. — With his investment bank facing a near-certain failure, Lehman Brothers Holdings Inc.’s chief executive officer, Richard Fuld Jr., placed yet another phone call to the man he thought could save him. Mr. Fuld was already ...