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

Henry mortgage rates news:

Quick Hits: Fannie, Freddie Suspend Foreclosures for Yuletide Season - MSN MoneyCentral
Fannie Mae (FNM) and Freddie Mac (FRE), the mortgage-finance companies at the center of the current economic mess, wish you a happy holiday season. The government-sponsored enterprises will suspend foreclosures and evictions from November 26th to ...

Remarks by Secretary Henry M. Paulson, Jr. on Financial Rescue Package ... - U.S. Treasury
Washington - Good morning. I will provide an update on the state of the financial system, our economy, and our strategy for continued implementation of the financial rescue package. Current State of Global Financial System The actions taken by ...

Principal says $2 billion from U.S. is no bailout - Des Moines Register
If Principal Financial Group were to receive $2 billion in government money, it would not be a bailout, says Chief Executive Larry Zimpleman. "It's only a bailout in the sense that we are trying to bail out the economy," he said. Principal announced ...

LATEST POLITICS VIDEOS - CNBC
Discussing what the president-elect's next move should be, with Keith Boykin, of The Daily Voice; Michael Farr, of Farr, Miller & Washington; and CNBC's John Harwood. If you're searching for a sign that the financial crisis is no longer a national ...

Investors holding up mortgage modifications - Contra Costa Times
NEW YORK — The federal government keeps bailing out the financial industry, but some working in that world seem reluctant to do their part, even if that could help stem the financial system's meltdown. At the center of today's economic and credit ...

Lawmakers blast shifts in bailout plan - MSNBC
Nov. 14: Treasury Secretary Henry Paulson explains his latest thoughts on the bailout plan in an interview with CNBC’s Erin Burnett. WASHINGTON - Lawmakers complained Friday that the Bush administration is ignoring the will of Congress and ...

Memo to Congress and automakers: A modest proposal - Buzzflash.com
So the people's representatives and Detroit's Big Three remain locked in spirited competition for the nation's title of top cretin. All eyes are on the race this year, because there really haven't been any credible challengers to the White House's ...

FDIC's Bair pushes aggressive mortgage plan - CNN Money
NEW YORK (CNNMoney.com) -- In a surprise move, FDIC Chairwoman Sheila Bair Friday unveiled details of her plan to have the government help delinquent homeowners. There are two key elements to the proposal. First, housing payments for delinquent ...

Dow ends day down about 340 points - MSNBC
NEW YORK - Wall Street has ended a turbulent week with another astonishing show of volatility, plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. Hedge fund selling in advance of a Saturday ...

Investment groups resist mortgage changes - San Francisco Gate
Sunday, November 16, 2008 At the center of today's economic and credit crisis is the rising tide of home foreclosures, which government agencies and some large banks are trying to address by allowing borrowers to modify their mortgages. But their ...