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Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Public loan programs take center stage at forum - Charleston Post & Courier
The once-torrid affair between homebuyers and purely private financing sources is over. The financial markets have lost that loving feeling with mortgage-backed securities, forcing a tightening of lending standards. So last week, local real estate ...

Update from 6 p.m. Friday - WSAZ
CHILLICOTHE, Ohio (WSAZ) -- Charleston, W.Va., and the Mountain State were well represented at a Barack Obama rally Friday morning in southern Ohio. Front and center among the estimated 3,000 people gathered at the Ross County Courthouse in ...

Cook Unit 1 Return-to-Service Estimate Expected in Late November - MSN MoneyCentral
BRIDGMAN, Mich. , Oct. 24 /PRNewswire-FirstCall/ -- Initial inspections and disassembly of the main turbine are complete at American Electric Power's AEP Cook Nuclear Plant Unit 1, out of service since Sept. 20 after vibrations, likely caused by a ...

Business Briefs - Charleston Post & Courier
FLORENCE — Wellman Inc. plans to close its two Pee Dee plants and eliminate more than 700 jobs as part of its bankruptcy reorganization. The Florence Morning News reported that the Johnsonville and Darlington plants will operate for about 60 days ...

Election 2008: Hillary Clinton in the news - Newsday
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Warsaw School Board okays bonds to replace roof - Daily Gate City
WARSAW, Ill. - The Warsaw School District can move forward to replace the roof on its 1957 building with the school board's approval Thursday of issuing general obligation bonds. The district is borrowing $370,000 in new money for the life/safety ...

INDUSTRY NEWS & PEOPLE March 2007 - Business Travel Executive
The NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...

'Muzzled' Biden's Halloween Present: A Press Avail - ABC News Blogs
ABC News' Matthew Jaffe reports: Earlier this week, Republicans claimed that Sen. Joe Biden, D-Del., had been “muzzled” by the Democratic campaign, noting that he had not held a full-fledged press availability with traveling reporters since a ...

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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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