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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

Hand mortgage rates news:

Treasury mulls plan to lower mortgage rates to 4.5% - CNN Money
NEW YORK (CNNMoney.com) -- Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%, an industry source said. Similar to an effort unveiled last ...

Mortgage rates post largest drop in 27 years - Reuters
NEW YORK (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by the largest amount in 27 years this week after an unprecedented intervention by the Federal Reserve, data from home funding company Freddie Mac showed on Thursday ...

Housing prices more affordable - Regina Leader-Post
The recent fall in housing prices in Canada has made home ownership more affordable, and broad-based cuts to mortgage rates announced Wednesday will make that dream even more affordable. The upside to the downside in housing prices is it has made ...

Peter Boutell, Lending a Hand: Freddie Mac and Fannie Mae announce the ... - Santa Cruz Sentinel
The mortgage professionals on the front lines, those of us meeting with prospective homebuyers and originating mortgages, are greeting the details of the 2009 conforming limits as a mixed blessing. The ones making the rules had an opportunity to ...

Insured mortgage defaults top 80,000 in October - Reuters
NEW YORK (Reuters) - Defaults on privately insured U.S. mortgages rose 35 percent in October, and topped 80,000 for the first time, as the troubled economy caused more homeowners to fall behind on payments. The Mortgage Insurance Cos of America on ...

Italy approves euro80 billion relief package - WTOP Radio
MILAN, Italy (AP) - The Italian government on Friday announced an euro80 billion ($103.2 billion) emergency package offering relief to banks, families and companies suffering in the global economic crisis. The package, which is part of a proposed ...

US insured mortgage defaults top 80,000 in October - Forbes
NEW YORK, Dec 1 (Reuters) - Defaults on privately insured U.S. mortgages rose 35 percent in October, and topped 80,000 for the first time, as the troubled economy caused more homeowners to fall behind on payments. The Mortgage Insurance Cos of ...

Bush administration ignored regulators' warning of mortgage meltdown - Bloggingstocks.com
Experts inside the Bush Administration tried to warn about the mortgage meltdown . They even proposed new regulations to set guidelines for the risky loans written by the banks who now have their hat in hand looking for a bailout. The banks fought ...

Ratings agencies targeted for hand in subprime mess - Miami Herald
In what is apparently the first legal action of its kind, an association of community-based organizations has filed a federal civil rights complaint against two of the three largest Wall Street ratings agencies, charging that their inflated ratings ...

Italy Unveils $100 Billion Economic Bailout - Street.Com
MILAN, Italy -- The Italian government on Friday announced an euro80 billion ($103.2 billion) emergency package offering relief to banks, families and companies suffering in the global economic crisis. The package, which is part of a proposed euro200 ...