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 refinance mortgage news:

Paulson calls for replacing Fannie/Freddie - Birmingham Business Journal
Outgoing U.S. Treasury Secretary Henry Paulson reflected on the downfall and future of embattled mortgage giants Fannie Mae and Freddie Mac in a speech before the Economic Club of Washington on Wednesday. He argued that there was widespread ...

Fed’s Rosengren Calls for ‘Concerted’ Fiscal, Monetary Policies - Bloomberg
Jan. 9 (Bloomberg) -- The U.S. government needs to pursue “concerted” fiscal and monetary policies to revive housing finance, Federal Reserve Bank of Boston President Eric Rosengren said. “We have seen improvements of late in the functioning of ...

Commercial properties face bursting bubble - The Money Times
Washington -- Rising vacancy rates in U.S. office buildings are pointing to a possibility that a commercial real estate bubble could burst, industry observes said. Vacancy rates have reached 10 percent and are rising quickly in major U.S. cities, The ...

Data: Mortgage 'Foreclosure Prevention' Fixes Failing to Work, U.S ... - AOL
Near Half of Homeowners in 'Loan Modification' Programs Face Higher Monthly Payments; Failure of Voluntary Industry Efforts Hikes Pressure on Incoming Obama Administration, New Congress to Clear Way for Court-Supervised Modifications. WASHINGTON ...

Congressman Cardoza Introduces Housing Legislation - KFSN
Fresno, CA, USA (KFSN) -- A valley congressman has introduced new legislation to stop the bleeding in the nation's housing crisis. Congressman Dennis Cardoza's idea is to offer four percent, fixed rate mortgages to Americans in hopes of reducing ...

Fed’s Rosengren Calls for ‘Concerted Policy Actions’ (Update1) - Bloomberg
Jan. 8 (Bloomberg) -- The U.S. government needs to pursue “concerted” fiscal and monetary policies to revive mortgage finance, Federal Reserve Bank of Boston President Eric Rosengren said. “We have seen improvements of late in the functioning ...

High office building vacancies may mean trouble for banks - New London Day
Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for troubled lenders. With job cuts rampant and ...

Commercial Real Estate - Daily Business Review
uane Stiller, president of Woolbright Development, has seen firsthand the toll the credit crisis and slow economy have taken on the commercial real estate industry. In recent months, his retail development company has had six deals fall through ...

UPI NewsTrack Business - United Press International
NEW YORK, Jan. 5 (UPI) -- U.S. stock indexes headed lower early Monday on concern of lower profits and a continued slide in automobile sales. Monthly vehicle sales numbers were due out later in the day. In midmorning trading, the Dow Jones industrial ...

Does the Bank Rate matter? - bbc
There is a good deal in Evan Davis's remarks this morning on Today that all the fuss about whether the Bank of England should cut interest rates may be the equivalent of bald men arguing over who should have the comb - and his apology to my old ...