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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
Phillips refinance mortgage news:
Financial News
Employee robbed at Citgo on northwest side - Milwaukee Journal Sentinel
The man asked the victim for help with a stalled car, police said. Once the two were outside, the man implied that he had a handgun and robbed the victim. Police did not say how much money was taken. The suspect is described as a black male, 6 feet ...

Car fire on 94 at 121st - Milwaukee Journal Sentinel
Nov. 21, 2008 6:53 a.m. | A car fire is backing up the commute on westbound I-94 near 121st St. Here's the look from the DOT camera . The fire is causing major delays. The trip from downtown to Moorland Rd ., normally a ten minute drive, was taking ...

Obama Addresses Crowd in Downpour; McCain Cancels - Huffingtonpost.com
Tuesday was a tough day to be outside in Greater Philadelphia. The rain poured and the wind howled. The weather turned so nasty that the fifth (and possibly final) game of the World Series scheduled for the night was postponed. John McCain canceled a ...

Steven Pearlstein - Washington Post
Washington Post columnist Steven Pearlstein was online Wednesday, Oct. 15 at 11:00 a.m. ET to discuss the stock market's return to a state of relative calm and where we go from here. About Pearlstein: Steven Pearlstein writes about business and the ...

Wachovia reported to be in merger talks - Raleigh News & Observer
Story Tools CHARLOTTE - Wachovia Corp. has begun preliminary merger talks with Banco Santander SA of Spain, Wells Fargo & Co. of San Francisco and Citigroup Inc. of New York, The Wall Street Journal and The New York Times reported Friday, citing ...

56-year-old gives birth to her own granddaughters -- triplets - Cleveland Plain Dealer
Photo from cosenotriplets.blogspot.com Jaci Dalenberg holding one of her granddaughters, Gabriella. Jaci Dalenberg of Wooster gave birth earlier this month at Hillcrest Hospital to triplets. Her daughter's triplets. Dalenberg's daughter, Kim Coseno ...

Credit experts answer your questions - WRAL
I am overloaded with credit card debts and have numerous outstanding doctor/hospital bills that have been turned over to collection agencies and now to a credit bureau. I see no way out, as I had to file bankruptcy in 2004. Would you please suggest ...

Incumbents Nass, Kleefisch, Zipperer easily re-elected to the Assembly - Milwaukee Journal Sentinel
In the 31st Assembly District, Nass, of Whitewater, bested Democratic challenger Frank Urban, a Dousman resident who recently retired from a career in nursing. The district stretches from parts of Walworth County in the south to Johnson Creek and ...

Air Wisconsin sees drop in traffic for October - Milwaukee Journal Sentinel
Nov. 13, 2008 | Appleton-based Air Wisconsin Airlines Corp.'s October traffic dropped 6.8% compared with October 2007, the privately held company reported today. Air Wisconsin, which operates as US Airways Express, also said its revenue passenger ...

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