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

Island mortgage rates news:

An egghead explains the recession call - St. Louis Post-Dispatch
When the National Bureau of Economic Research made its official recession declaration yesterday, a couple of questions came to mind. One, as expressed in one of the comments on our story , is, “DUHHH. Did it really take them that long to figure ...

Ask Howard: Mortgage Rates, Martial Arts - KGMB9
Vandals Hit Big Island School;14 Laptops Taken updated on Dec 02, 09:37 PM Fundraiser for Shark Attack Survivor [watch] updated on Dec 02, 08:32 PM Pearl Harbor Events to Observe December 7th Attacks updated on Dec 02, 06:48 PM Big Island: Kau High ...

Bernanke: lower interest rates are "feasible" - Island Packet Online
WASHINGTON — Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year. The Fed ...

Stocks end short session with 5th straight gain - Island Packet Online
Photo: Trader Robert Innella smiles as he works on the floor of the New york Stock Exchange, Wednesday, Nov. 26, 2008. A stock market gaining confidence in the nation's financial system bolted higher Wednesday, propelling the Dow Jones industrials ...

Commercial Loan Delinquencies to Rise, Barclays Says (Update2) - Bloomberg
Dec. 3 (Bloomberg) -- Commercial mortgage delinquencies rose in November and will climb as the economy slows and unemployment grows, according to Barclays Plc . Payments more than 60 days late on commercial real estate loans that were bundled ...

Caught in the trap - ArabianBusiness.com
Negative equity is a very real concern for thousands of homeowners as they watch property prices fall while mortgage rates rise. With repossessions looming large on the horizon, Alex Delmar-Morgan reports on what the banks need to do to arrest the ...

Friendly Dealings - NationalJournal.com
Norm Coleman is a man of many faces--politically, that is. As a student activist at Hofstra University on Long Island nearly four decades ago, the long-haired Coleman ardently protested against the Vietnam War. Before long, however, the student who ...

RI, Michigan lead the nation in unemployment - CNBC
PROVIDENCE, R.I. - Rhode Island and Michigan lead the nation in unemployment during the ongoing recession. Both states reported seasonably adjusted unemployment rates of 9.3 percent in October. Results released Tuesday by the U.S. Bureau of Labor ...

Asian Stocks Perk Up - Forbes
In a turnaround, most Asian stocks moved higher Wednesday, following an upswing in the U.S. But gains among financials were small compared to steep losses earlier this week, and exporters continued to suffer from the U.S. demand slump. Reports of ...

George Chamberlin's Money in the Morning - San Diego Daily Transcript
It's still more than a month before the Obama administration takes charge but there already appears to be some squabbling between the candidate for the top Treasury job and the current head of the FDIC. Reports say that Tim Geithner, the president of ...