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State Agencies Get Creative on Student Loans - Inside Higher Ed
As various lenders and some of its peers in other states announced in recent months that they would stop making federal or private loans because of disruptions in the capital markets, the Illinois Student Assistance Commission steadfastly held firm ...

Navy Federal Slashes Mortgage Rates - Forbes
5.625% 30-Year Fixed Mortgage up to $730K VIENNA, Va., Sept. 4 /PRNewswire-USNewswire/ -- Effective immediately, Navy Federal Credit Union is now offering its members some of the lowest rates nationwide for a wide range of Mortgage Products. For ...

Why mortgage rates aren't falling - Walletpop.com
With the Fed holding rates for the foreseeable future, you may think this is a great time to refinance your mortgage or buy a new home. But because of the "credit crunch" you are no doubt sick of hearing about, rates are actually higher than they ...

STOCKS NEWS EUROPE-Colonial up on debt refinancing deal - Forbes
Shares in Spain's Colonial climb as much as 8.6 percent, lifted by the real estate company's announcement of a debt refinancing deal. 'Colonial was approaching a worse-case scenario, so any news on refinancing is positive for the share price ...

ECB crackdown looms - Marketwatch
LONDON (MarketWatch) -- The European Central Bank has signaled plans to carefully change the rules governing what kind of collateral it will accept when banks tap money-market auctions for needed cash. Economists say the ECB could move as early as ...

Thompson defends Palin - Knoxville News Sentinel
Former Sen. Fred Thompson of Tennessee speaks at the Republican National Convention on Tuesday night in St. Paul, Minn. He spoke in defense of Sen. John McCain's vice presidential pick, Sarah Palin, who has revealed that her unmarried 17-year-old ...

Latest Share Chat - Life Style Extra
European stocks remain in the red as U.S fall in early trade on Wall Street after weak U.S. labor market data that highlight worries over the health of the U.S. economy. At 1405 GMT, the FTSEurofirst 300 .FTEU3> index of top European shares is down 0 ...

The State of Whose Union? - Common Dreams
Earlier this week, speaking for Washingtonia and unburdened by high expectations, President Bush said "all of us were sent to Washington to carry out the people's business." The question remains - exactly which people? And what business, Mr. Bush ...

Obama's plan to change the economy - Salon
In the past quarter-century, there has probably never been a better time for a presidential candidate to charge into downtown Manhattan and make a speech arguing for more regulation of the financial industry. The moral authority of market ...

The Conservative Origins of the Sub-Prime Mortgage Crisis - Common Dreams
Hardly a day goes by without a news story about the accelerating number of foreclosures, an economic tsunami that is causing chaos in the housing and stock markets, the banking industry, and the global money markets, not to mention upending families ...

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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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