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Anthony scores 30, Nuggets edge Clippers - FOX News
LOS ANGELES — Carmelo Anthony scored 30 points, grabbed 11 rebounds and hit a go-ahead jumper with 1:15 remaining to help the Denver Nuggets beat the Los Angeles Clippers 106-105 on Wednesday night after blowing a 13-point lead. Zach Randolph and ...

Mortgage rates fall for 2nd day; won’t help all - Buffalo News
MIAMI — Mortgage rates fell for the second day in a row Wednesday, and could be heading toward levels home buyers and owners haven’t seen this year. That drop is what the Federal Reserve was aiming for when it announced a plan Tuesday to buy $600 ...

Growing Number of Horses Shipped to Canada for Slaughter - FOX News
RUSHVILLE, Neb. — At dusk, after all the fancy horses had been auctioned, Doug Barnes settled into a seat at the sale barn and got down to business. Three, four, five or more horses ambled into the ring at a time. The auctioneer stopped making ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

UK plumbing supplies firm Wolseley cuts 2,000 jobs - International Herald Tribune
LONDON : Wolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs across ...

Smaller payments for Citigroup loans - Marketplace.publicradio.org
Steve Chiotakis: It is yet another finance company that's reaching out to try and alleviate the crunch that's befallen the mortgage industry. People are defaulting on loans, and some companies are trying to pull the trigger on help rather than ...

DAILY BRIEFING - Coloradoan
National City Mortgage, 2032 Caribou Dr., No. 101, is collecting coats for Northern Colorado families on Friday. Drop off any coat at the National City office on or before Halloween and get a raffle ticket for a chance to win a new Wii system. Cider ...

A False Fix for the Mortgage Crisis - The Washington Independent.com
As the government, housing advocates and banks like Citigroup and JPMorgan Chase struggle to streamline loan modifications and stave off foreclosures, one tactic keeps coming back to life as a sure-fire weapon: the 90-day mortgage moratorium. In ...

Housebuilders subside once more - Guardian Unlimited
Housebuilders are being hit again on worries about possible refinancing, along with the never-ending gloom associated with the sector (the latest being a 4.9% fall in prices in October, according to Rightmove). So Persimmon is down 36.5p at 201.75p ...

Riley suggests Uncle Sam cosign on Jeffco sewer debt - Birmingham News
Gov. Bob Riley told Birmingham business leaders Tuesday the federal government should provide a financial backstop for Jefferson County's efforts to restructure or refinance its sewer debt. That, he told members of Birmingham Regional Chamber of ...

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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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