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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

Jones mortgage loans news:

Investors sue Countrywide to force loans purchase - Reuters
NEW YORK, Dec 1 (Reuters) - A group of bond investors on Monday sued Bank of America (BAC.N: Quote , Profile , Research , Stock Buzz )-owned Countrywide Financial demanding that Countrywide buy every mortgage loan for which it agrees to reduce the ...

UPDATE: Investors Sue Countrywide Over Modification Plans - CNN Money
NEW YORK -(Dow Jones)- Two investors in mortgage-backed securities sued Bank of America Corp.'s (BAC) Countrywide Financial Corp. on Monday over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys ...

UPDATE:Tsy's Paulson: Treasury Actively Mulling New Rescue Programs - CNN Money
WASHINGTON -(Dow Jones)- U.S. Treasury Secretary Henry Paulson on Monday reiterated that his department is still aggressively examining new ways to help increase financial firms' access to capital, revive credit markets, stem foreclosures and boost ...

Markets sink as recession in US is confirmed - Guardian Unlimited
Confirmation that the US is in recession shook Wall Street tonight and set the Dow Jones industrial average on course to end a five-day winning streak. The Dow fell 445 points to 8384 by the afternoon, a drop of 5%. Shareholders balked at an ...

Fed to Back Consumer, Mortgage Debt - Smart Money
WASHINGTON (Dow Jones) -- The Federal Reserve on Tuesday stepped up its efforts to support strained credit markets through new programs aimed at boosting consumer credit and the market for mortgage-backed securities. Under the Term Asset-Backed ...

Timeline: U.S. Credit Crunch & Financial Failures - KNx 1070
NEW YORK (CBS News) ― Wall Street and Main Street have been caught up in credit market turmoil, which began in 2007 with rising defaults on mortgages made to financially shaky borrowers and spread to corporate bonds and other kinds of debt. May 17 ...

Fed To Pay Up To $600B For Mortgage Assets - CBS News
(CBS/AP) The Federal Reserve says it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis. The Fed says it will purchase up to $100 billion in direct obligations from mortgage giants Fannie Mae ...

Bernanke: lower interest rates are "feasible" - AOL
WASHINGTON -Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The Fed's ...

Fed, Treasury Move to Boost Consumer Loans - Washington Post
The Federal Reserve and Treasury moved today to boost consumer spending and lower home mortgage rates, committing up to $800 billion to make it easier for households to borrow money for cars, tuition bills and new homes as part of a broad effort to ...

Stocks end short session with 5th straight gain - Associated Press
NEW YORK (AP) -- Wall Street climbed again Friday, wrapping up its biggest five-day rally in more than 75 years, even as investors digested signs of a bleak holiday season for retailers and fears that a flurry of reports next week will show more ...