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News about Mortgages:
Corporate debt refinancing is the next crisis - Times OnlineMost of the chief executives I meet these days divide into two groups. There are those who expect trading to fall off a cliff. Then there are those who expect trading to fall off a cliff and also have debt coming up for refinancing. Difficult trading ...
Petrol companies told to cut prices at pumps - Times OnlinePetrol and energy suppliers came under fire from ministers yesterday in an attempt to shame them into cutting pump prices and household bills. Emboldened by international praise for tackling the banking crisis, Gordon Brown accused petrol retailers ...
Darling summons bank chiefs over rate cut failure - Times OnlineAlistair Darling summoned the chief executives of Britain’s biggest banks to Downing Street today to demand that they immediately pass on the Bank of England’s interest rate cut to their customers. Treasury sources confirmed to The Times that the ...
BAA 'hindering airport competition,' says regulator - Turkish Daily NewsBritain's antitrust regulator reported yesterday that BAA's ownership of seven airports, including three major airports serving London, may not serve the interests of passengers or airlines. The preliminary report suggested that the Competition ...
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