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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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Spokane mortgage quotes news:
Something in the water - Spokane Spokesman-ReviewThe news that parts of north Spokane are under a boil order due to drinking water contamination came to us late last night, and so we only had time to put together a brief for today's paper. But fret not, we're on the story in force today - one ...
Wild Card -- Tuesday PM - Spokane Spokesman-ReviewIt's nice to interact with you folks again after a long weekend off. Gotta play to see tonight, but I look forward to reading your comments before I hit the sack tonight. You know the Wild Card drill by now ... Issue : Washington Post confirms 'Deep ...
The Left Was Right - Common DreamsThey take no satisfaction in knowing that they were right in opposing this ill-fated Iraq war from the outset. All they want is for people to listen to them now. And what they have to say is this: If we are ever going to get all of our troops out, it ...
Who Won Tuesday’s Presidential Debate? - Wall Street JournalJohn McCain called for a $300 billion program to help financially troubled homeowners stay in their homes during the second presidential debate. He used the nationally televised Town Hall-style encounter with Barack Obama to unveil the government ...
Winning on tone, not policy - bbcDo Obama and McCain dare to face down the effective president pro tem, Treasury Sec Henry Paulson? Over the weekend it seemed that Paulson was making progress and that congress would sign the Wall St rescue deal soon -- now Obama and McCain have both ...
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