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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
Fulton mortgage quotes news:
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Good teachers vary in substance and style, but they tend to have a few things in common: They inspire students to push themselves. They don’t put up with a lot of nonsense in the classroom. Oh, and they hate the No Child Left Behind (NCLB ...

Should people aspire to virginity until they are married? - Atlanta Journal Constitution
What is wrong with this picture? Three young men, ages 16, 19 and 20, commit to respect themselves and the opposite sex enough that they’ll wait until marriage to have sex - and are mocked for it on national television. When host Russell Brand of ...

News Links - WNYT
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Lower Manhattan Development Corporation - New York Observer
Assembly Speaker Sheldon Silver, a powerful voice in the redevelopment of downtown, wants the Lower Manhattan Development Corporation to stay in business, according to his spokesman. That puts him at odds with Mayor Bloomberg, who today called in an ...

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