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Obama, McCain Back Treasury Action to Rescue Freddie, Fannie - Bloomberg
Sept. 6 (Bloomberg) -- Presidential candidates Barack Obama and John McCain gave their support for federal action to rescue Freddie Mac and Fannie Mae while saying steps must be taken to ensure the mortgage giants don't keep passing losses off to ...

Construction jobs hard to come by this summer - Bellingham Herald
Still reeling from the subprime mortgage mess and the economic downturn it spawned, the troubled construction industry got another jolt of bad news recently when the production of single-family homes hit its lowest annual rate since 1991 ...

FACTBOX-McCain, Obama react to Fannie and Freddie woes - Forbes
(Reuters) - U.S. presidential candidates John McCain and Barack Obama reacted cautiously Saturday to reports that mortgage finance companies Fannie Mae and Freddie Mac were set to to be placed under federal control. The Treasury Department plan would ...

House price 'rip-offs' probed by watchdog - Independent
Share MORTGAGE brokers are being investigated over allegations that some of them colluded with estate agents to inflate property prices and rip off homebuyers. In an unprecedented move, the Financial Regulator is checking claims that brokers have ...

As another bank folds, the FDIC gets lower on money - Bloggingstocks.com
That fact that John McCain's son served on the board of the Silver State Bank until recently should not matter much to customers. The bank is gone. According to The Wall Street Journal , "The lender, the 11th bank to fail in the U.S. this year, was ...

Fannie, Freddie's boards meet Saturday to mull government plan - International Herald Tribune
WASHINGTON : The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet on Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...

REFILE-Fannie, Freddie boards meet to mull government plan - Forbes
WASHINGTON (Reuters) - The boards of mortgage finance companies Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) were set to meet Saturday to discuss a government plan to place the companies under federal control ...

Fannie, Freddie boards meet to discuss bailout - Globe and Mail
WASHINGTON — The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...

Corporate Crime - Morning Call
A former bank employee facing embezzlement and money laundering charges has pleaded guilty. Sara Vriesen, 54, admitted to using her son and daughter's bank accounts to funnel money into her own at Farmers Trust Savings Bank in Buffalo Center. Vriesen ...

Buyers grab apartments as new loans lure pays off - Independent
DRASTIC measures taken by two prominent developers to revive the property market succeeded yesterday in attracting some buyers, showing there is some life left in the Irish housing market. McNamara's Elm Park development, which is offering 30 per ...

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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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