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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
Hamlin mortgage loan news:
Financial News
Deed transfers for the Dec. 1-28 edition - Star-Banner
Warranty deed transfers in excess of $80,000 involving businesses as recorded at the Marion County Clerk of the Circuit Court's office from Sept. 29-Oct. 24. Compiled by Darrell G. Riley: Oct. 20-24: Steven Dube to S & S Group LLC. Marion County: $98 ...

Banks, auto dealers team up to promote loan availability - Democrat and Chronicle
Local banks want you to know they have cash for cars. Why do consumers need reminding that banks have money? With all the news since mid-September of frozen credit markets, Rochester-area bankers and auto dealers are concerned that people assume car ...

Erie County Real Estate Transactions - Buffalo News
• 31 Lanoche Court, Michael A. Young; Karen A. Young to Yijun Cheng; Li Li, $525,000. • 1 Cloister Court, Mary Michael Egan; Edmund A. Egan to Michael P. McGorry; Pamela M. McGorry, $466,000. • 73 Hampton Hill Drive, Nicholas D. Mecca; Efterpe ...

Local briefs - Macomb Daily
No comments posted. Warren police are looking for three men considered to be armed and dangerous after they stole a car at gunpoint late Wednesday. The incident occurred at the Warren Manor Apartments located on Hoover and 10 Mile roads, Detective Lt ...

Do you want socialism? - Northwest Herald
Do you want a socialist state? If not, I urge you, your family, and friends to vote for Sen. John McCain and Gov. Sarah Palin. Now it is clear to me that Obama’s real agenda is socialism. His tax credits for folks paying no taxes are in essence the ...

The Daily Dose - Sporting News
First off, great comments on the last post . . . I love it when you guys ping-pong with wonderfully intelligent commentary. Thanks!!! In keeping with the quarterback theme let’s adopt a conversation on injuries. I know there are different ...

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