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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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Lincoln mortgage rates news:

Illinois mortgage holders get break - Lincoln Courier
Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in Illinois, California and nine other states from losing their homes, the Illinois attorney ...

Lincoln Financial Group Announces Preliminary Third Quarter 2008 ... - Forbes
PHILADELPHIA, Oct. 10 /PRNewswire-FirstCall/ -- Lincoln Financial Group (NYSE: LNC) today announced preliminary third quarter results, including an update on the company's capital and liquidity positions. Net income is expected to be in the range of ...

Fed minutes show policymakers saw balanced risks - Lincoln Daily News
[ October 08, 2008 ] W ASHINGTON (AP) -- Even in the midst of a severe meltdown on Wall Street, Federal Reserve officials at their September meeting believed the risks from weaker growth and higher inflation were roughly equal. The Fed officials ...

National Economic Crisis Has Little Local Effect, Thus Far - Lincoln County News
Damariscotta Bank & Trust President Thomas Finn asserts there are reasons why the community banks are weathering problems that have leveled some of the nation's financial giants. Local community banks are somewhat insulated from the issues afflicting ...

USS Lincoln in Hawaii - Everett Herald
James McCusker, a Bothell economist, said Congress did the right thing to revive the credit markets, even though the law is far from perfect. "The economics of this is easier to understand than the politics of it," said McCusker, who writes a column ...

Blame accounting alchemy for market evaporation - Seattle Post Intelligencer
Markets recognize desperation when they see it. That's the best analysis of shareholders' reaction to the $700 billion rescue law. Ripping open the package Treasury Secretary Henry Paulson offered, investors sought reform. Instead they found short ...

Blame Accounting Alchemy for Market Evaporation: Amity Shlaes - Bloomberg
Oct. 9 (Bloomberg) -- Markets recognize desperation when they see it. That's the best analysis of shareholders' reaction to the $700 billion rescue law. Ripping open the package Treasury Secretary Henry Paulson offered, investors sought reform ...

Wall Street set to follow global sell-off - Lincoln Daily News
[ October 06, 2008 ] N EW YORK (AP) -- Financial markets around the world had a rocky start Monday after European governments took steps to limit the damage from the growing global financial crisis. U.S. stocks appeared headed for a steep drop at the ...

Oppenheimer's Contrarian in Municipal Bonds - BusinessWeek
by Aaron Pressman Ronald Fielding prospers by buying tax-exempt bonds that others hate. While the typical municipal bond mutual fund is packed with plain vanilla, low-risk bonds backed by the general taxing power of states and cities, Fielding, who ...

How to turn yourself into a model borrower - Times Online
How easy life used to be. Need to raise money? Take out a loan. Fancy a second home in the country and need a mortgage? No problem. Not any more. The global financial crisis has brought an abrupt end to the days of cheap credit. Banks and insurers ...