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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.
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Shannon mortgage loans news:
Former Habitat for Humanity supervisor continues to help novice ... - Columbia MissourianCOLUMBIA — Every Friday and Saturday, Bob Shannon holds the modern equivalent of an old-fashioned barn-raising. Shannon, a part-time building supervisor for Habitat for Humanity, takes a new group of volunteers and teaches them construction skills ...
Sign of the times - Bothell ReporterIn today’s economic climate, homeowners are mulling over a variety of options to make ends meet and keep their homes. Kitsap Bank, through a partnership with the Security Reverse Mortgage Company of Gig Harbor, began providing customers the option ...
Citigroup Needs to Confess Its Writedowns Now: Jonathan Weil - BloombergYou don't have to be that smart to figure out there's still a lot of rot on Citigroup's $2.1 trillion balance sheet . If there wasn't, the New York-based lender wouldn't have needed last week's government rescue, which included a new $20 billion ...
Citigroup's 'capital' was all casing, no meat - ArabianBusiness.comOver and over, as its stock price plunged last month, Citigroup Inc repeated the same tired line. Citigroup has "very strong capital," the bank kept saying. Its capital was so strong that the New York-based lender last week was ironing out yet ...
State Supremes: unsubstantiated allegations of teacher sexual ... - Spokane Spokesman-ReviewIn a case where the 11 petitioners are all known as John Doe, the state Supreme Court ruled 6-3 this morning that unsubstantiated allegations of teacher sexual misconduct can be withheld from public disclosure. School districts can investigate any ...
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