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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Turner mortgage loan news:

Mortgage company begins foreclosure process on Guerra’s home - Brownsville Herald
RAYMONDVILLE - A mortgage company is foreclosing on District Attorney Juan Angel Guerra's house, according to notice posted at the Willacy County courthouse. Chase Home Finance of Columbus, Ohio, has begun the foreclosure process on the house that ...

Get The Facts On The Sub-Prime Mortgage Meltdown - FOX News
Well first, let's call a spade a spade. These risky mortgages aren't really so complex or exotic —they're junk mortgages, plain and simple. Sub-prime is just a euphemism bankers have whipped up to disguise their risk. It's been a familiar theme in ...

Willacy DA's house being foreclosed - McAllen Monitor
RAYMONDVILLE - A mortgage company is foreclosing on District Attorney Juan Angel Guerra's house, according to notice posted at the Willacy County Courthouse. Chase Home Finance of Columbus, Ohio, has begun the foreclosure process on the house that ...

Homebuyers pay $55 a month more in a year - News.com.au
SOUTH Australian home owners are paying $55 a month more in mortgage repayments than a year ago, figures show. The Real Estate Institute yesterday released its Housing Affordability Report. The report shows families are using almost 40 per cent of ...

Subprime Suspects - CFO.com
In past financial blowups, auditors have paid a heavy price. After the savings-and-loan crisis of the late 1980s, for example, the Federal Deposit Insurance Corp. collected more than $1 billion in settlements from four of the then–Big Six for their ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. When Deal Journal told people we were going to cover an event honoring the 25 Most Powerful Women in Banking, a common reaction was: “There ...

Pre-Christmas rate cut to stir shoppers - The Age
Official interest rates are tipped to be slashed before Christmas as the worst global financial crisis in decades stirs fears about a possible recession in Australia next year. All 18 economists surveyed by AAP expect the Reserve Bank of Australia to ...

Consumers plan to hold onto savings at gas pump - Patriot-News
In normal times, declining gas prices would send shoppers on a holiday spending splurge. But this year, midstate shoppers said they are saving the extra money because they are convinced this gas-price holiday won't last. People are anxious about the ...

Reserve Bank to make deep cut in rates: survey - The Australian
OFFICIAL interest rates are tipped to be slashed before Christmas as the worst global financial crisis in decades stirs fears about a possible recession in Australia next year. All 18 economists surveyed by AAP expect the Reserve Bank of Australia ...

It's official: U.S. economy in recession - Knoxville News Sentinel
WASHINGTON — WASHINGTON (AP) — The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. The NBER — a private, nonprofit research organization — said its group of academic economists ...