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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

Jackson mortgage loans news:

Countrywide to refund $11.5 M to NC borrowers - WCNC
RALEIGH, N.C. -- Two subsidiaries of Countrywide Financial Corp. have agreed to repay more than $11 million to nearly 5,000 North Carolina borrowers who were overcharged on their mortgages, the state banking commissioner said Thursday. Countrywide ...

Bernanke: lower interest rates are ‘‘feasible’’ - Jackson Sun
WASHINGTON — Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are ‘‘certainly feasible,’’ but he warned there are limits to how much such action would revive an economy likely to stay weak well into next ...

Businesses in Top 10 still going strong - MLive.com
Last year, the Citizen Patriot — with help from The Enterprise Group — selected 10 businesses it determined were thriving in Jackson County, despite the poor economy. We brought you stories of a business doing high-tech research on the cars of ...

Register for FREE - Wall Street Journal
Contrary to the assertions of critics, the evidence does not support the view that the CRA (Community Reinvestment Act) contributed in any substantial way to the crisis in the subprime mortgage market,” Federal Reserve governor Randall Kroszner ...

The Madness of Crowds - Commentary Magazine
Fueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began ...

Liberty Tax Advises that Thereâ€™s Still Time to Cut Your 2008 ... - PR Inside
"A generally favorable strategy is to defer bonuses and income so it is paid and taxed in 2009, and make tax deductible purchases and charitable donations before the end of the year," said John Hewitt, CEO of Liberty Tax Service. Purchases and ...

Lenders halt home foreclosures for the holidays - Orlando Sentinel
Just in time for the holidays, mortgage lenders in Florida have agreed to voluntarily halt new foreclosures against homeowners for the next 45 days, Gov. Charlie Crist said Monday. The move comes a week after Crist said he was considering an ...

Help wanted: Economic stimulus for urban areas - Chicago Tribune
President-elect Barack Obama 's economic stimulus plan focused on creating 2.5 million jobs and rescuing "Main Street," not just Wall Street, is a welcome departure from the top-down economic theories we have heard up until now. But though Obama's ...

Daily Dose: Equity alternative - Topeka Capitol-Journal
Roger Stirrett uses a home equity line of credit to improve his house and full-service hair salon in Topeka. "It's a very good tool," said Stirrett, owner of the Hair Port, 1015 N.W. Topeka Blvd. "I've paid it off two or three times. I have a $2,000 ...

Treasury Yields Drop to Record Lows as Bernanke Cites Buybacks - Bloomberg
Dec. 1 (Bloomberg) -- Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. Bonds rallied for a ...