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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Erie home equity loans news:

Slowly, mortgage help comes - Buffalo News
As federal agencies and the mortgage industry announced new initiatives last week to speed help for struggling borrowers, three of the area’s biggest lenders say the new efforts won’t change what they do because they’ve already been proactive ...

2009 proposed Toledo budget will deliver deep cuts, job losses - Toledo Blade
Toledo Mayor Carty Finkbeiner's proposed 2009 operating budget, which he revealed last night, will mean deep cuts across the city in order to deal with what he called a "horrific economic storm" that has battered nearly every American city. Under the ...

Erie County Real Estate Transactions - Buffalo News
• 1790 Countyline Road, Kathleen Petschke; Dennis E. Petschke to Jennifer A. Wetzler; Darren M. Wetzler, $187,000. • 11716 Boncliff Drive, Arthur W. Wolski to Joseph M. Grimaldi; Jill M. Babinski, $146,000. • 2183 Townline Road, Sharon Schmidt ...

How to Find the Best Loan Deals - US News and World Report
Stick with the federal educational loan programs —Perkins and Stafford for students and PLUS for parents, says Stuart Siegel, a private counselor in Erie, Pa. While the federal loans have fixed rates ranging from 5 to 8.5 percent, private or ...

Getting a Loan Might Be a Struggle - US News and World Report
Four Loan Tips Look Twice at Loan Advice Why Perkins Loans Are Harder to Get This Year Student Loans Feel the Pinch Making It Easier to Fill Out College Financial Aid Forms Video: Surviving Student Loans Students needn't panic, however. Freshmen are ...

Phobia day: Editors' Picks for Thursday from The PD - Cleveland Plain Dealer Blog
Now that Halloween has, ahem, overshadowed All-Hallows Day, can the night before Halloween be scary, too? We seem worried today: Phillip Morris interviews barbershop customers fearful that Barack Obama will be assassinated; under the headline "Will ...

I Can Tell You Who is Holding the Bag - Safe Haven
As a continuation of the recent posts on credit default swap risks, I am releasing my proprietary study of Lehman's counterparties. Please read "Interesting Lehman email " and "Do you who's going to screw who next week? " to get a clear background on ...

Dissecting the NFL coaching experience - ESPN.com
Tuesday Morning Quarterback has learned on an exclusive basis that when the producers of the "X-Men" movies were casting Scott Summers, the character with the laser eyes, they considered Mike Singletary for the part. Singletary was rejected as too ...

INDUSTRY NEWS & PEOPLE March 2007 - Business Travel Executive
The NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...

Straight Talk Express - Arkansas Times
That would be Sen. Chuck Hagel , not the doubletalking John McCain. In an interview , Hagel said it would be a "stretch" to say Sarah Palin is qualified to be president. He is, if a truth teller, a master of understatement. "She doesn't have any ...