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

Smith home equity loans news:

Fleetwood's RV Sales Stalled - Forbes
Don't expect the recreational vehicle market to arrive at greener pastures anytime soon, RV and manufactured home maker Fleetwood Enterprises warned on Tuesday, as it reported a deeper-than-expected quarterly loss and said the weak credit market will ...

Fleetwood Cuts Costs To Stem Losses - Forbes
Sales of recreational vehicles and manufactured homes have been stalled by tightened credit conditions, said manufacturer Fleetwood Enterprises on Tuesday, as it reported a deeper-than-expected quarterly loss. The Riverside, Calif.-based company's ...

U.S. market for lobster bottoms out, Canadian fishermen tie up boats - 680 News
HALIFAX, N.S. - A major buyer of lobsters in Nova Scotia believes fishermen should consider tying up their boats all winter rather than setting traps for a delicacy that fewer people are willing to buy during tough economic times. Colin MacDonald ...

N.S. lobster fishermen block shipments in price protest - The Chronicle Herald
Digby Neck lobster fisherman Bruce Titus said there was no way he would let this lobster hauling truck from Yarmouth board the ferry Princess of Acadia at Digby on Monday. (BRIAN MEDEL / Yarmouth Bureau) DIGBY — Frustrated lobster fishermen managed ...

UPI NewsTrack Business - United Press International
NEW YORK, Nov. 28 (UPI) -- U.S. markets were mixed in New York on what is expected to be a light trading day, due to an early afternoon closing to extend the holiday weekend. With many investors staying home on the day after Thanksgiving, the Dow ...

Site Presented By - Salon
When confronted with the news that Wal-Mart shoppers were so eager to take advantage of a Black Friday sale that they trampled an employee to death, most people are, quite naturally, appalled. My daughter, for example, was aghast: "What kind of ...

Falling house prices will lead to more couples splitting up ... - Daily Telegraph
In a pioneering study, academics compared household questionnaires with property market results over 14 years and found that sudden plunges in prices are followed by an increase in separations. They calculate that a 10 per cent drop in house prices ...

A Real Bailout for Auto Makers - Barron's Online
IS A BANKRUPTCY THE BEST OPTION FOR GENERAL MOTORS , Chrysler and Ford ? While their CEOs insist otherwise and the risks would be high, a growing chorus of outsiders says yes. "It's the only real option that would allow GM to take the steps necessary ...

A well-shaped package would be worth the wait - Globe and Mail
Endless tax cuts? That worked out just swell for the U.S.A. didn't it? Oh wait... Regular Canadians need jobs (and also the ability to get bank loans), not more tax cuts that bankrupt future generations (fiscal deficits are essentially borrowing ...

Fleetwood Reports Results for Second Quarter and First Six Months of ... - MSN MoneyCentral
Consolidated revenues for the quarter were $216.4 million , down 54 percent from $468.5 million in last year's second quarter. RV Group sales declined 63 percent, and Housing Group sales were off 33 percent. The Company incurred an operating loss of ...