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Supertel Hospitality, Inc. Signs Three-Year Credit Facility With Great ... - MSN MoneyCentral
-- $14 million term loan at 5.5% fixed interest; -- $20 million revolver loan at prime rate, with a minimum of 4.5% interest; -- $2 million line of credit for a 60-day period; and -- $10 million facility for discretionary use to refinance other ...

India Extends Refinance Facility for Banks to June 30 (Update1) - Bloomberg
Nov. 28 (Bloomberg) -- India’s central bank today extended the refinance facility for banks to June 30, 2009, to increase liquidity in the banking system, the Reserve Bank of India said in a statement e-mailed from Mumbai. The central bank also ...

A Rush Into Refinancing as Mortgage Rates Fall - The Ledger
The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. Click to enlarge Low rates enticed Javier and Irina Lattanzio to refinance ...

Russia's VEB decides to refinance commercial banks' foreign debt - RIA Novosti
VIENNA, November 30 (RIA Novosti) - Russia's national development bank Vnesheconombank (VEB) has made a decision to refinance foreign liabilities of commercial banks, Central Bank First Deputy Chairman Alexei Ulyukayev said on Sunday. Speaking at the ...

FDIC's Bair warns investors fighting loan changes - MSN MoneyCentral
Federal National Mortgage Association (Fannie Mae) ( FNM ) Stock Quote , Chart , News , Add to Watchlist WASHINGTON (AP) - Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could ...

Bernanke: more action needed to cut foreclosures - MSN MoneyCentral
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken ...

Stocks Down As Automakers Seek Loans - Forbes
Automakers gather for a grilling on Capitol Hill Thursday. Shares of GM were down more than 3% in early trading. Ford lost nearly 2%. Chrysler is privately held. The dollar was strong at the open after rate cuts across the pond sank European ...

Bernanke: more foreclosure cuts needed - AZCentral.com
WASHINGTON - Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ...

India cbank extends scope of liquidity measures - FXStreet.com
MUMBAI, Nov 28 (Reuters) - India's central bank said on Friday it will extend a special refinance facility for banks until June 30, 2009, and will also make available concessional credit to exporters for a longer period of time. Following are details ...

BOND REPORT: Treasurys Gain With Yields At Multi-decade Lows - CNN Money
Treasurys advanced Thursday, pushing benchmark 10-year note yields to multi-decade lows, as a report showed initial claims for unemployment benefits unexpectedly fell in the latest week. Ten-year note yields (UST10Y) fell 5 basis points, or 0.05%, to ...

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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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