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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
Braxton mortgage rates news:
Financial News
Rev. Jackson Seeks Meeting with Congressional Leaders at Nation's ... - BlackNews.com
Rev. Jesse L. Jackson Sr. New York, NY (BlackNews.com) - Thanks in part to predatory lending practices, more than 2.2 million Americans now are at risk of losing their biggest asset: their homes. Rev. Jesse L. Jackson Sr., founder and president of ...

Questions and some answers on the aftershocks of the fiscal quake - Buffalo News
Wall Street is in turmoil. The stock market is gyrating wildly. Congress can’t agree on a rescue package that could cost taxpayers $700 billion or more. All of those events seem so far removed from the Buffalo Niagara region, but the ripples from ...

News in Brief - Oakland Press
No comments posted. WASHINGTON (AP) — At a time when most administrations are getting ready to turn out the lights, the Bush administration is still struggling to get the biggest government rescue in history up and running. Treasury Secretary Henry ...

Hip-Hop Rumors: Britney Spears Blames Rap For Divorce? Khaled Sells ... - allhiphop.com
No real two cents today...just R.I.P. to MC BREED. Also, don't forget to read The Top 10 Worst Fads In Hip-Hop History (Part 1 of 2) . Part 2 is on the way. I have to type it up and get it up on the site. IF YOU SEE SOMETHING, SAY SOMETHING ...

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