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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
Collin mortgage rates news:
Financial News
Forget the subprime mortgage mess — Collin Peterson in Europe trying ... - DL-Online
U.S. Rep. Collin Peterson, D-Minn., left for Europe this weekend to discuss ways to regulate little-known and difficult-to-understand “credit default swaps.” “It has to be global,” Peterson said, so he and other House Agriculture Committee ...

PSC approves rate drop for MG&E customers - Milwaukee Journal Sentinel
Nov. 26, 2008 11:48 a.m. | In a rare move, the state Public Service Commission today authorized a drop in electricity prices for a Wisconsin utility. Customers of Madison Gas & Electric Co. will see their electricity rates drop in January, the ...

Crash closes Crites Field in Waukesha - Milwaukee Journal Sentinel
No injuries were reported. Flights were being directed away from the airfield, apparently because plane wreckage was blocking a landing strip. Neither emergency personnel nor airport officials were immediately available for comment. Nov. 26, 2008 2 ...

The most affluent city in the nation weathering financial crisis - Star Community Newspapers
In the cusp of a national financial crisis complete with the collapse of the biggest bank, Washington Mutual, a Wall Street crisis and subsequent $700 billion bailout plan passed by Congress and the President, Plano is faring better than others ...

Spend, spend, spend: Alistair Darling adopts John Maynard Keynes ... - Times Online
Alistair Darling intends to raid future budgets to pay for massive public spending projects in an attempt to counter the economic slowdown. Invoking John Maynard Keynes’s response to the Great Depression of the 1930s, the Chancellor said that he ...

Obama Vows Stimulus Now, Restraint Later - Investors Business Daily
President-elect Barack Obama said Tuesday his administration will focus on economic recovery to start, but stressed the need for budget reforms. He emphasized his middle-class tax cuts and other stimulus efforts will help save or create 2.5 million ...

I'm on your side, not in your wallet - News of World
I KNOW how tough times are right now. Jobs, homes and businesses are being lost. People need help . . . and they need it fast. They want to know politicians are on their side—not the other side of the world. And on your side is right where the ...

McCain Jumps on Another Biden Interview for Hit on Taxes - ABC News Blogs
ABC News' Matthew Jaffe reports: Sen. Joe Biden, D-Del., might be sticking to script on the stump, but his satellite interviews are giving Republican presidential candidate John McCain plenty to talk about. On Monday, the Republican campaign ...

Risk-laden financial moves tantamount to gambling - Las Vegas Sun
The credit default swaps behind so much of the meltdown were so risky that federal authorities feared that state governments might try to ban them as illegal gambling. Then consider this: Not only did Washington purposefully let these instruments ...

'Joe the Plumber' hearts Huckabee more than McCain - Los Angeles Times Blogs
On the same day that Barack Obama shattered fundraising records and won the endorsement of Colin Powell , John McCain held a pair of lackluster rallies in Ohio, a battleground state that the Arizona Republican insists he must win if he is to capture ...

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