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How To Cope With The Flood Of Foreclosures? - Forbes
Despite soaring foreclosure rates, President Bush and other Republicans have not made this a top priority, and Treasury Secretary Henry Paulson has refused to draw on the $700 billion rescue fund to help homeowners, saying that saving financial ...

BHP dumps Rio mining mega-bid as downturn bites - Washington Post
SYDNEY/LONDON (Reuters) - Global miner BHP Billiton abandoned its hostile takeover bid for rival Rio Tinto , blaming sliding metals prices and the threat of global recession for scuppering the mega-merger. BHP announced the bid last ...

Stock & fund quotes - ninemsn
At its AGM earlier in the month, construction leader Leighton Holdings' management maintained an upbeat view of the company's ongoing prospects, implying a level of immunity to the global economic downturn. Management noted that the ...

GE rushes to cap its losses in Australia - The Australian
GIANT US conglomerate GE's Australian retail finance operations are showing that even the best-run companies in the world can hit potholes where their operations involve non-bank housing loans, high interest rate credit cards and defaulting unsecured ...

The Paulson Plan: “Truly Idiotic” - Wall Street Journal
Charles Calomoris is angry. Hank Paulson’s plan to save the economy? “Truly idiotic,” says Calomoris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University’s business school. “This whole thing has been complete ...

Hypo Real Estate Group 3Q loss 3.1 billion euros - BusinessWeek
Troubled German lender Hypo Real Estate reported Monday a net loss of 3.1 billion euros ($4 billion) in the third quarter as the financial crises worsened, with a unit in Ireland hit especially hard by write-downs on the values of its assets. The ...

Hypo Real Estate Group sees 3Q loss of 3.1 billion euro on 'worsening ... - Minneapolis Star Tribune
BERLIN - Troubled German lender Hypo Real Estate reported Monday a net loss of 3.1 billion euros ($4 billion) in the third quarter as the financial crises worsened, with a unit in Ireland hit especially hard by write-downs on the values of its assets ...

PREVIEW-Hints of Fannie and Freddie roles sought in filings - Reuters
NEW YORK, Nov 6 (Reuters) - Equity investors burned by the government seizure of Fannie Mae and Freddie Mac in September may soon get clues of how the housing finance giants may be remaking themselves under conservatorship. Fannie Mae (FNM.P: Quote ...

Credit Suisse limps along - International Herald Tribune
Credit Suisse is feeling its rivals' pain. The Swiss bank kept its head down for most of the summer as other banks frantically sought bail-out partners and government capital. But that turns out to have been the calm before the storm. On Thursday ...

No. 3 Rutgers routs Princeton 83-35 - FOX News
PISCATAWAY, N.J. — Epiphanny Prince scored 15 points and Khadijah Rushdan added 11 points off the bench to lead No. 3 Rutgers to an 83-35 win over Princeton Tuesday night. Rutgers (2-0) scored the first nine points and held Princeton (1-1 ...

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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
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