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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
Wayne mortgage rates news:
Financial News
Successor named for Lehman CEO - Orlando Sentinel
NEW YORK - A restructuring expert overseeing the liquidation of Lehman Brothers will replace Richard Fuld as chief executive on Dec. 31, Lehman lawyer Harvey Miller said Thursday. Chief Restructuring Officer Bryan Marsal of Alvarez & Marsal has been ...

We can avoid deficit: Treasurer Wayne Swan - The Australian
THE Rudd Government believes it can get through the next year without being forced into deficit, but plunging financial markets show investors are already trading on the basis that the economy is heading for recession. Wayne Swan yesterday defended ...

We can avoid deficit: Wayne Swan - News.com.au
THE Rudd Government believes it can get through the next year without being forced into deficit, but plunging financial markets show investors are already trading on the basis that the economy is heading for recession. Wayne Swan yesterday defended ...

Guarantee brings the unexpected - The Age
IF YOU had more than $1 million in the bank today, you'd be preparing to pay the Federal Government to insure it. It is the new world of bank deposit guarantees. In Australia, they are free for people with less than $1 million, but for those with ...

Health premiums set to squeeze Australians - ninemsn
Australian health insurance customers bracing for a five percent rise in premiums from next month, have been advised to shop around. While Federal Health Minister Nicola Roxon said scrutiny from her department had limited the rise to 4.99 percent, it ...

High electric rates concern RTM - TriVallyCentral
BRANFORD - The Representative Town Meeting is considering taking a stance against the state's escalating electric rates. The grass-roots organization, Fight the Hike, has asked Branford officials to sign a resolution that will be presented to state ...

Y worry? Younger shoppers to splurge - Sydney Morning Herald
Recession? What recession, according to a generation of young people who have grown up with full employment, low interest rates and a buoyant economy. While more than two out of three Australians say they intend to cut back spending this Christmas ...

Furthermore … - Fort Wayne Journal Gazette
Taxpayers willingly or unwillingly took a leap of faith when Congress approved the $700 billion Wall Street rescue plan last month. Now, it appears it was an even bigger leap than anyone thought. The Treasury Department and Federal Reserve won’t ...

Americans travel abroad for crucial surgery - PhysOrg
Before getting two artificial disks to ease the grinding pain in his back, Wayne King asked prospective surgeons where they trained and how many disk replacements they had done. Then he flew to Malaysia for the operation. Rising health costs and ...

Christian Colleges Struggling to Survive - Christian Post
For 15 years, Cascade College in Portland, Ore., struggled to find the fuels that any college needs: students to pay tuition, and donors to help build an endowment. Then came the global economic meltdown, and suddenly that struggle became an ...

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