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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
Lancaster mortgage quotes news:
Financial News
Deals so good, they’re a steal — literally - Buffalo News
Lt. Nicholas Bado of the Town of Tonawanda Police Department shows some of the items in the police property room. Rather than selling the items themselves, police contract the sales out to be sold online. Say a homeowner wakes up to find a bicycle ...

24m of Lancashire taxpayers' cash in crisis-hit Icelandic bank - This is Preston
24 MILLION pounds of Lancashire taxpayers’ cash is at risk after being invested in ailing Icelandic banks. Most of the money was deposited in Landsbanki, which has been taken under control of the Icelandic government in a bid to keep it afloat ...

HK shares seen rebounding after Lehman news - Forbes
HONG KONG, Sept 12 (Reuters) - Hong Kong shares are expected to rebound from their 18-month closing low on encouraging news that Lehman Brothers , saddled with mortgage-related losses, was in talks about a possible sale. U.S. stocks rose on Thursday ...

September 2008 (201) - MSNBC Firstread
SEDONA, Ariz. -- In between her debate-prep sessions here, Palin called into the conservative Hugh Hewitt radio program Tuesday, decrying the lack of journalism ethics and repeatedly referring to herself as “Joe Six Pack.” Oct. 1: Sarah Palin ...

What's happening Wednesday: Candidates to DC for bailout vote - USA Today Blogs
Update at 8:40 p.m. ET: The Senate has announced it will vote on a revised Wall Street bailout plan tomorrow night. USA TODAY's David Jackson has confirmed that all three senators on presidential tickets -- Republican John McCain and Democrats Barack ...

Political Punch - ABC News Blogs
Jake Tapper is ABC News' Senior National Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories. He didn't seem to like the questions much. Whether about Gov. Sarah ...

Bill's Parliament blog - Cambridge News
As he branded the Labour government a bunch of Zombies, Liberal Democrat Leader Nick Clegg's problem was to show he had breathed new life into his party after the near-fatal leadership of Sir Menzies Campbell. The 41-year-old had promised to bring a ...

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