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Top salesmen for financial bailout face grilling - Newsweek
Recommended (6) Campaign 2008 Secrets: McCain Gambles on Palin The Candidates' Economic Gurus It Now Takes Three Men to Do What J.P. Morgan Did The Economy Sucks. But Is It ’92 Redux? Sunder Katwala on the Era of Big Government The Economic Crisis ...

Paulson, Bernanke defend $700 billion bailout - KTAR.com
WASHINGTON (AP) - Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke waged a stout defense on Capitol Hill Tuesday of their management of a $700 billion financial bailout just one week after the administration abandoned the ...

Consumers may get ray of good news: lower prices - WTOP Radio
WASHINGTON (AP) - American consumers hit by a seemingly endless stream of bad news, from vanishing jobs to shrinking retirement accounts, may be in for a small dose of relief: lower prices at stores. The Consumer Price Index, the country's most ...

Paulson says bailout not for mortgage guarantees - Seattle Post Intelligencer
WASHINGTON -- Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures. Paulson and Federal Reserve Chairman Ben Bernanke ...

Should Obama name FDIC's Bair as a Special Advisor for Mortgage Policy ... - Bloggingstocks.com
Most investors know that there's a difference between Democratic Party leadership and Republican Party leadership, as it relates to U.S. fiscal and economic policy. However, although more economically-cohesive than the Democratic Party, the ...

Treasury Denounced Over Bailout - Gainesville Sun
WASHINGTON — The Treasury secretary, Henry M. Paulson Jr., on Tuesday rejected pleas to use money from the $700 billion bailout program to help homeowners avoid foreclosure or to stave off bankruptcy by Detroit’s Big Three automakers. Click to ...

Obama urges help for homeowners, auto industry - Reuters
WASHINGTON (Reuters) - President-elect Barack Obama said struggling U.S. automakers need a government rescue, but help should be conditioned upon changes in the industry, according to excerpts from a TV interview to air on Sunday. He also urged more ...

Bailing out homeowners - Romesentinel.com
After bailing out banks, investment houses, a big car loan company and AIG insurance (twice), the federal government finally may be getting around to individual homeowners. It’s about time. After all, it was failing mortgages that fueled this fall ...

Barack Obama urges help for American auto industry - News.com.au
PRESIDENT-elect Barack Obama said struggling US automakers need a government rescue, but help should be conditioned upon changes in the industry. In a television interview to air tonight he also urged more assistance for troubled homeowners and added ...

Congress may have to approve a 'TARP 2,' economist says - Bloggingstocks.com
With credit markets remaining under stress, and with uncertainty growing regarding the status of megabank Citigroup (NYSE: C ), the U.S. Congress may have to take more action to maintain financial system stability and prevent the U.S. economy from ...

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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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