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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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Cavalier mortgage loans news:
Mitt Romney to Detroit: Drop Dead - Ann Arbor News BlogWhen Mitt Romney and John McCain were vying for the Republican nomination last January, the two men got into a widely reported argument over Michigan jobs. Straight-talking McCain raised the hackles of blue-collar workers when he said all those jobs ...
One rule for Lloyds, one for everyone else, signals Darling - Scotsman.comALISTAIR Darling yesterday effectively slammed the door on a rival bid to keep HBOS an independent bank, when he set tough conditions on any alternative rescue deal. The Chancellor made it clear that the Treasury would not match its offer to buy ...
Is America angry at GM, Ford, Chrysler? - Ann Arbor News BlogEven if the Big Three automakers get their bailout, they face a bigger problem than they ever imagined. If we've learned anything the past few weeks, it's that Americans are either mad at General Motors, Chrysler and Ford, or, worse, they're ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. There shouldn’t be. General Motors is reportedly asking for $10 billion in taxpayer money to grease a merger with Chrysler. That is on top of ...
November 2008 - Weekly StandardOut on the tour circuit for his new book, "How Mitt Romney, the Fake Conservative, Almost Bought the Republican Primary With His Big CEO Money" "Do the Right Thing," Mike Huckabee took a break from bashing former rival Mitt Romney to take a few ...
CapeCodToday Blog Chowder - Cape Cod Today"If others were involved with the accused, let them charge them and join him in prison whatever the cost." It's very obvious others were involved. They found three sets of DNA under her fingernails, and DNA on her shoe that matched no one they tested ...
The credit crisis and your student debt - UV Cavalier DailyIt is hard to avoid hearing the words “bank bailout” these days, but they are ringing especially loud in the ears of college financial offices as officials and students are beginning to worry about what the downturn will mean for financial aid ...
A Catastrophe Foretold - Common Dreams"Increased subprime lending has been associated with higher levels of delinquency, foreclosure and, in some cases, abusive lending practices." So declared Edward M. Gramlich, a Federal Reserve official. These days a lot of people are saying things ...
The real state of real estate - UV Cavalier DailyThe real state of real estate A look at what the current economic situation may mean for the Charlottesville real estate market David Victor-Smith, Cavalier Daily Staff Writer Published: Thursday, November 13 2008 Crisp Charlottesville autumns draw ...
Mortgage Servicers To Help Md. Homeowners - WJZGov. Martin O'Malley says the state's plan to help homeowners avoid foreclosure is moving forward. Pat Warren reports six mortgage companies have agreed to work with the state to assist people in danger of default. The six companies service about 23 ...
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