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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
Howard mortgage rates news:
Financial News
European stocks rise after mixed session in Asia - International Herald Tribune
PARIS : Stocks gained Thursday in Europe, a day after central banks joined in coordinated action to cut borrowing costs, but Asian markets were mixed, and investors said credit remained hard to come by. "We're getting a relief rally," Howard Wheeldon ...

Mortgage writedown losses hit $2 trillion - News.com.au
THE cost of writedowns for financial institutions with exposure to the US mortgage market is expected to blow out to $US1.4 trillion ($1.97 trillion), according to the latest International Monetary Fund estimates. The figure, contained in the October ...

Mortgage Crisis - Daily Business Review
mid the chaos of the subprime mortgage crisis, there are signs some major residential lenders are getting serious about helping distressed homeowners. Countrywide Financial, the mortgage lender acquired by Bank of America, began working with ...

UK House Price Fall Steepest in 25 Years: Halifax - CNBC
British house prices fell at their sharpest annual rate in at least 25 years in September, as the credit crunch continued to take its toll on the housing market, according to data from Britain's biggest mortgage lender. HBOS said its Halifax house ...

UK house price fall steepest in 25 yrs-Halifax - Forbes
United Kingdom - LONDON, Oct 9 (Reuters) - British house prices fell at their sharpest annual rate in at least 25 years in September, as the credit crunch continued to take its toll on the housing market, according to data from Britain's biggest ...

Australian stock market rises after bank deposits guarantee - News.com.au
THE battered Australian sharemarket had risen more than 5 per cent by close of trade, boosted by the Government's plan to protect the banking system. The major banks made strong gains. At the 4.15pm close (Sydney time), the benchmark S&P/ASX200 index ...

UPDATE 1-UK house price fall steepest in 25 yrs-Halifax - Forbes
LONDON, Oct 9 (Reuters) - British house prices fell at their sharpest annual rate in at least 25 years in September, as the credit crunch continued to take its toll on the housing market, according to data from Britain's biggest mortgage lender. HBOS ...

Forbes rates Zanesville among most vulnerable towns - Newark Advocate
ZANESVILLE — Forbes magazine features a story that ranks Zanesville the seventh most vulnerable town in America. The publication looked at 141 towns with an urban core of at least 10,000 but no more than 50,000 to evaluate the strength of Main ...

House price fall is smallest in seven months - Times Online
UK house prices fell by 1.3 per cent in September, bringing prices down by a record 12.4 per cent year-on-year, according to Halifax, the UK’s biggest mortgage lender. But last month's fall, which reduced the price of the average house to £172,108 ...

House Price Fall At Record Rate - Sky.com
House prices fell at a new record rate during over the last 12 months, losing 13.3% of their value, the Halifax says. House prices continue to fall It means the average house price has fallen by £26,425 from last September. The fall is the biggest ...

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sources: informars.com, erate.com, Freddie Mac
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