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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
Sheridan mortgage quotes news:
Financial News
Rebellion over SNP finance package grows in public and private sectors - Scotsman
PRESSURE continued to mount on the Scottish Government yesterday as business and council leaders drew battlelines over SNP policy. As revealed in The Scotsman, leaders of Scotland's leading business organisations, known as the Group of Six, met with ...

Salmond pledges to shore up mortgage protection - Herald
Alex Salmond last night signalled his government is actively looking to strengthen the law covering mortgage repossession to ensure Scottish homeowners get the same protection offered under new rules for England and Wales. A spokesman for the First ...

Western: Owning a house has global implications - Record Searchlight
There is a house in Rawlins, Wyo., that won't sell. It's a bargain, too, at $135,000. In fact, there are 43 houses in Rawlins selling for under $150,000. This is a booming energy town with a housing shortage. People in Rawlins have money. Wyoming has ...

World waits to see Barack's true colours - The Australian
SO now we know for sure. The Noam Chomsky-John Pilger-Phillip Adams view of America is wrong. In George W. Bush's America, a land allegedly rife with militarism and racism, the white military hero lost and the black memoirist won a slashing election ...

London seeks end to Scots nuclear veto - Scotsman
THE UK government is searching for a way to end Scotland's effective veto over the building of nuclear power stations north of the Border. It has asked the Calman Commission – set up to review devolution – to solve the "problem" of Holyrood using ...

Justin Webb's America - bbc
In Cleveland to see Bruce Springsteen (and That One) I am struck again by how American world dominance has a twin track approach, its purposes to achieve. There is the McCain approach - fight the good fight. And there is the approach of the American ...

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