Washington Mortgage Refinance and Information Online from competing Lenders

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Consumers feel fallout from Fannie, Freddie - MSN MoneyCentral
(AP) - Jeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners can't ...

As U.S. Economic Problems Loom, House, Senate Sweat the Small Stuff - Wall Street Journal
WASHINGTON -- The 110th Congress, whose term officially ends in January, hasn't passed any spending bills or attacked high gasoline prices. But it has used its powers to celebrate watermelons and to decree the origins of the word "baseball." Barring ...

Refer to a friend - PR Inside
Postproperties.com - Post Properties, Inc. (NYSE: PPS) announced today the sale of its Post Oglethorpe(R) apartment community located in Atlanta, GA for a gross sales price of approximately $38.5 million. Post Oglethorpe(R) is a garden-style ...

Search News: - Businesswire.com
Post Properties Sells Post Oglethorpe ® in Atlanta for $38.5 Million; Refinances Mortgage Debt Securing Properties Held in Joint Ventures; Moody ’ s and S&P Affirm Ratings and Change Outlook ATLANTA--( BUSINESS WIRE )--Post Properties, Inc. (NYSE ...

'Liar loans' threaten to prolong mortgage crisis - International Herald Tribune
WASHINGTON : In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets ...

Dodd Deal: Extra Perks On Mortgages - Hartford Courant
No wonder Sen. Christopher Dodd won't release documents related to the $800,000 in cut-rate mortgages he got in 2003 from Countrywide Financial , once the nation's largest mortgage lender. The primary cause of the collapse of the mortgage industry is ...

For Obama And McCain, Wall Street Awaits - Forbes
Though it's not the biggest item on the agendas of either campaign right now, the next U.S. President will face the challenge of sweeping finance market reform from the moment he enters office; the credit crisis is worsening, not improving, and each ...

Post Oglethorpe sold to Mid-America Apartments - Atlanta Business Chronicle
Post Properties Inc. reported Tuesday evening it sold the Post Oglethorpe apartment community in the Brookhaven neighborhood of Atlanta for about $38.5 million. Atlanta-based Post Properties (NYSE: PPS) did not disclose the buyer. However, according ...

Foreclosure filing numbers still scary on national level - NW Florida Daily News
WASHINGTON - The number of homeowners stung by the dramatic decline in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with the same month a year ago. Nationwide, more than 272,000 homes received ...

'Liar loans' threatening to prolong mortgage crisis - Mercury
Salvatore Fucile, 82 and his wife, Clara, pose in their Springfield home. The couple wound up in an Option ARM from IndyMac after consolidating two mortgages. ,WASHINGTON — In the mortgage industry, they are called "liar loans" — mortgages ...

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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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