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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

Petroleum mortgage rates news:

The unintended consequences - International Herald Tribune
Running through Heathrow Airport this spring, late for a flight connection, my eye briefly caught a tabloid newspaper with the glaring headline: "End of 105-percent Mortgages!!!" Recovering my sanity on the plane a half-hour later, I began to ponder ...

30-year fixed-rate mortgages fall below 6% - Los Angeles Times
Rates on 30-year, fixed-rate mortgages averaged 5.94% this week, down from 6.10% last week and the first decline since Sept. 18, mortgage company Freddie Mac said. Average rates on 15-year fixed-rate mortgages, which are popular with people who are ...

Amy Schalet: On teen pregnancy, inhibitions are part of the problem - Minneapolis Star Tribune
Sarah Palin faced a variety of questions at last week's debate, but not the one I would have asked: "Should public school students be taught that contraception and condoms can prevent unintended pregnancy and disease?" Palin has referred to her ...

Australia's S&P/ASX 200 Drops, Extending 3-year Low; Banks Fall - Bloomberg
Oct. 8 (Bloomberg) -- Australia's benchmark stock index fell, extending a 3-year low, as banks and resources companies tumbled on concern the deepening credit crisis will further slow global economic growth. National Australia Bank Ltd. , the nation ...

Hong Kong shares close higher after rate cuts; China stocks outperform ... - Forbes
HONG KONG (XFN-ASIA) - Share prices closed higher as interest rate cuts by world's major central banks helped ease worries over the credit crisis, enabling the market to recoup some of its losses in yesterday's 8.2 pct slide. China stocks ...

Hong Kong shares end morning up after rate cuts; China banks, telcos ... - Forbes
HONG KONG (XFN-ASIA) - Share prices finished the morning higher in a rebound led by China banks and telecom firms as rate cuts by major central banks helped ease worries about the global credit crisis. China banks were up after the People's Bank of ...

Wall St takes new hit in global crisis - News.com.au
FINANCE chiefs of the Group of Seven major advanced economies today announced a broad five-point action plan to tackle a global finaince crisis. The G7 pledged to use "all available tools" to support key institutions and prevent their failure in the ...

Dow Falls Below 8,000 At Open - WAPT
Dow Jones industrials opened sharply lower Friday, adding to yet another global sell-off on concerns that even low interest rates won't help end the worsening credit crisis. Frozen credit markets and a loss of confidence in the world's financial ...

Money wrap for October 10 - Burlington County Times
Citigroup says it has ended negotiations with Wells Fargo in their fight to acquire Wachovia. Citigroup says it believes it has strong legal claims against Wachovia and Wells Fargo for breach of contract and plans to pursue its claims vigorously ...

Economists say World Financial Crisis Affecting Africa - Voice of America
The crisis in world financial and stock markets has not dramatically affected most African nations. But African economists say the continent could experience considerable repercussions as lending and investment abilities tighten in the industrialized ...