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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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Cumberland mortgage quotes news:
US Unveils New $800 Billion Plan to Loosen Credit - Flathead BeaconRight now, the US Treasury and the Federal Reserve are like plumbers determined to get water flowing again through a system of clogged pipes. Each time they think they've got things working, another faucet stops up, and they have to drag out new and ...
Looking ahead - USA Today Blogs• President-elect Obama holds another press conference, his third this week. This one is about the economy. • President Bush issues another pardon. This one is a real turkey . • Lots of economic news: the weekly updates on unemployment and ...
HBOS: the battle for hearts and minds - ScotsmanA BATTLE for the hearts and minds of 2.1 million HBOS shareholders moves into top gear this week with the launch of an “Independent HBOS” campaign to mobilise opposition to the Lloyds TSB takeover. The aim is to encourage tens of thousands of ...
Crisis Inspires Rethinking of 'Reaganomics' - Common DreamsBig government is staging a comeback. When Ronald Reagan entered the White House in 1981, he famously declared, "Government is not the solution to our problem; government is the problem." Since then, conservative small-government ideas built on a ...
Election 2008 - Weekly StandardBill Sammon's sources tell him Steele may announce as soon as Thursday , and is courting the endorsement of Newt Gingrich, which if landed, would do much to scare off the incumbent and possible challengers: The source also contradicted a report in ...
October 2008 (158) - MSNBC FirstreadOne thing we know is that next Wednesday it’ll be over, right? We’ll know who the new president will be and whether the Democrats will have a filibuster-proof majority of 60 in the Senate? Right? Maybe not. Insiders in Georgia are convinced that ...
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