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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
Bexar mortgage rates news:
Financial News
Bexar has most foreclosed properties since 1990 - San Antonio Express News
Bexar County foreclosure postings have hit the highest monthly total in more than 17 years, reaching a level not seen since the oil bust and real estate slump of the late 1980s and early 1990s. November's foreclosure auction will see 936 homes sold ...

Massachusetts Is for Decriminalized Marijuana Lovers - Reason.com
They still want an income tax (idiots) but 65 percent of Bay State residents have used the ballot process to decriminalize amounts of pot under an ounce . You'll get civil penalties and up to a $100 fine once the law goes into effect. The Marijuana ...

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