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

Holmes mortgage quotes news:

Letter: Low-income lending risks were well-known - MLive.com
A 1999 New York Times article by Steven A. Holmes on Fannie Mae begins, "In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it ...

Words from the (Investment) Wise for the Week That Was (November 10 ... - Safe Haven
The Oxford Dictionary defines "volatility" as "liable to change rapidly and unpredictably, especially for the worse". It's not as if investors do not know this by now, as global stock markets were again subjected to extreme fluctuations during the ...

Schools 'crumble as SNP fails to deliver funding system' - Scotsman
ANGER is growing at the way Scottish schoolchildren have been left in crumbling buildings caused by the SNP's failure to fund new projects. Pupils at hundreds of schools across the country are having to learn in buildings with little or no heating ...

BIZ SCENE: First the test, then the lesson - TriVallyCentral
While the nation's business bails its way out of the current economic tsunami - at times it feels as if we're using tablespoons rather than buckets - it probably does little good to assign blame. Back when I was an undersized linebacker for the ...

McCain Rally: Salter Is Smiling - Wall Street Journal
Elizabeth Holmes reports from Blountville, Tenn., on the presidential race. John McCain will hold seven rallies Monday as part of his cross-country tour of battleground states. Washington Wire, traveling with the McCain campaign, will report on each ...

McCain slams Obama on 'redistribution of wealth' - Boston Globe
Conservative bloggers and websites have been flogging it, and now John McCain's campaign has put its imprimatur on it: a newly disclosed radio interview in which Democratic rival Barack Obama talks about the redistribution of wealth. The interview ...

Global Stock Markets: A Crazy Week - Seekingalpha.com
What a crazy week! A week in which the Dow Jones Industrial Average managed to record both its largest single-day points increase (+936 points on Monday) and its second-largest one-day points decline (-733 points on Wednesday) since its start in 1896 ...

Is the era of easy credit over? - Globe Gazette
An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to ``come on up under the canopy and put your hands on'' a new set of wheels. But sitting ...

Celebrity Baby Blog - Celebrity Baby Blog
In a new interview with Italian Vanity Fair , Angelina Jolie says that like any mom, her priorities have shifted since entering motherhood. "The kids are my priority, so it's possible that from now on I will make fewer movies. I may even stop ...

Words from the (Investment) Wise for the Week That Was (October 13 ... - Safe Haven
What a crazy week! A week in which the Dow Jones Industrial Average managed to record both its largest single-day points increase (+936 points on Monday) and its second-largest one-day points decline (-733 points on Wednesday) since its start in 1896 ...