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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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Pike mortgage rates news:
Financial News
Democrats wrap up their convention, tell us what you think… - Reuters Blogs
I thought the speech was FANTASTIC. Tonights victory will be marked in history as the turning point for AMERICA. I truly hope that all will vote on Nov 4th, my vote will go down for the CHANGE for the future, BARACK OBAMA. To use the football field ...

Joe Scarborough - News Busters
Keith Olbermann seems to be suffering from a bad case of foot-in-mouth disease during the Democrat convention coverage. As noted earlier by NewsBusters' Mark Finkelstein, Olbermann, after commenting ecstatically about Michelle Obama's speech declared ...

Homeless Families on the Rise, with No End in Sight - Common Dreams
AMHERST, Mass. - There is just enough space for Lisa Rivera's family to sleep at Jessie's House homeless shelter. In one room, she fits the full-sized bed she shares with her 9-year-old daughter, the trundle for her 11-year-old son, a twin bed for ...

Playing Politics on Student Loans - Inside Higher Ed
Even when Education Secretary Margaret Spellings and Democrats on the House of Representatives Education and Labor Committee generally agree about the size and scope of a problem, their clear enmity for each other overwhelms the accord and produces ...

Clinton will be at fairgrounds - Corpus Christi Caller
Michelle Christenson/Caller-Times Allison Smith-Rodriguez, owner of Stitch It on Alameda, snips the extra thread from a 'Hillary 2008' hat. A waiting list for T-shirts by her business in anticipation of Sen. Hillary Clinton's campaign stop has formed ...

Rebuilding L.B.'s economy - Long Beach Press-Telegram
Douglas Park, one of Southern California's largest proposed commercial developments, is planned to occupy the site of a former Boeing facility near the Long Beach Airport and San Diego (405) Freeway. Originally known as the PacifiCenter when it was ...

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