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Financial News
HSBC, RBS Face Financing Double Whammy as Rates Rise (Update2) - Bloomberg
Oct. 8 (Bloomberg) -- HSBC Holdings Plc , Royal Bank of Scotland Group Plc and the biggest U.K. banks face the most debt coming due in at least 10 years as the credit market seizure raises borrowing costs to the highest on record. The six largest ...

Moral hazard - Politico.com
Details provided to reporters by senior adviser Doug Holtz-Eakin Wednesday morning make one thing clear: Taxpayers would directly pick up the tab for the difference in cost between a homeowner’s old, too-expensive mortgage and the cheaper one ...

Barclays, RBS in Debt Double Whammy as Rates Increase (Update3) - Bloomberg
Oct. 8 (Bloomberg) -- HSBC Holdings Plc , Royal Bank of Scotland Group Plc and the biggest U.K. banks face the most debt coming due in at least 10 years as the credit market seizure raises borrowing costs to the highest on record. The six largest ...

Subscriber Log In - Wall Street Journal
Sen. Gordon Smith, a two-term Republican, is facing a tough challenge from Jeff Merkley, the state's Democratic House speaker. The state has voted Democrat in recent presidential elections, and polls show a close Senate race. A new television ad ...

Site Presented By - Salon
Naked Capitalism’s Yves Smith spots a concrete example of how the credit freeze is bringing the real economy grinding to a halt. Shipments of grain are piling up in U.S. and South American ports, unable to move because sellers no longer trust that ...

Fresh bank sector aid cheers Russia market - Forbes
Russian Federation - MOSCOW, Oct 7 (Reuters) - Russia's stocks rose as the Kremlin promised to pump 900 billion roubles into the country's banking system under a fresh aid package, helping the benchmark index recover some of the previous day's 19 ...

Russia mkts watchdog tightens trading limits - Forbes
MOSCOW, Oct 7 (Reuters) - Russia's markets watchdog tightened trading limits, enforcing a one-hour halt if indexes move more than 5 percent from the closing level, against a previous 10 percent limit, the MICEX exchange said on Tuesday. Any ...

General Growth stock plummets under debt stress - Honolulu Advertiser
The owner of Ala Moana Center and Ward Centers is under heavy pressure by Wall Street to refinance debt, leading some analysts to predict the company will be forced to restructure itself. Chicago-based General Growth Properties Inc. suffered a 42 ...

HUD can't help all homeowners - Marketplace.publicradio.org
Stacey Vanek-Smith: The Department of Housing and Urban Development wraps up its two-day summit today. At issue: whether all government housing assistance programs on the table would in fact help struggling homeowners. Danielle Karson reports ...

Acuity slashes 800 jobs - Atlanta Journal Constitution
Acuity Brands, the Atlanta lighting products maker, said Tuesday it will shed 800 jobs —- or 11 percent of its work force —- in response to a weak housing market that also hurt fiscal fourth-quarter results. The company, which reported an 18 ...

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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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