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Obama works to 'hit the ground running' with Congress - Detroit Free PressWASHINGTON — As President-elect Barack Obama looks toward Inauguration Day, coordination with Congress could produce a remarkable result: Democrats may try to pass an economic stimulus bill even before Obama takes office Jan. 20, and have it on his ...
TransUnion: 3Q mortgage delinquencies shoot higher - WTOP RadioNEW YORK (AP) - The percentage of people who are two months behind on their mortgages shot up in the third quarter from the same period last year, according to credit reporting agency TransUnion LLC. For the quarter ended Sept. 30, 3.96 percent of ...
Scotiabank launches Scotia Mortgage Authority - Banking Business ReviewScotiabank said that the launch of Scotia Mortgage Authority will result in its mortgage broker partners having access to a broader range of products for sale to their clients. These include conventional mortgages, multiple adjustable rate mortgage ...
Program Targets Consumer Spending, Mortgage Rates - Washington PostThe government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt which Treasury Secretary Henry Paulson calls vital to supporting the economy. The purchases could begin as soon as ...
A CORNER OF SOME FOREIGN FIELD IN THE CARIBBEAN - IndependentShare Location: Margarita Island, off the north-east coast of Venezuela , in the Caribbean , was discovered in 1498 by Columbus and is famous for its pearl fishery Address: Viento y Agua (Wind and Water), Playa el Agua, Margarita Island, a 90-unit ...
Fed mortgage plan boosts European stock markets - ForbesEuropean stock markets spiked higher Tuesday as Wall Street was expected to post further strong gains after the U.S. Federal Reserve unveiled another raft of financing measures to free up credit markets. The FTSE 100 index of leading British shares ...
Home-buyers welcome rate cut - Skynews.comMortgage holders and home buyers have welcomed the Reserve Bank of Australia's (RBA) latest rate cut, and more good news may be in store for the new year. The RBA has cut official interest rates by 100 basis points to 4.25 per cent, the lowest level ...
MARKET ROUND-UP : Wednesday slump casts a long shadow - IndependentShare Overview THE Dublin market made further progress yesterday but there were plenty of sellers active in the market and the ISEQ made only limited progress, failing to make back much more of Wednesday's 4pc slump as it edged ahead by just 0.69pc ...
Dow falls 679 points in one day - Tulsa WorldWall Street's five-day winning streak came to an abrupt end Monday as confirmation of a U.S. recession sent stock and crude oil prices into a steep dive. The National Bureau of Economic Research, the nonprofit group of economists that classifies ...
Is there life after banking? - Online RecruitmentThe meltdown in banking is well documented – as are the stories of previously high earners struggling to pay the mortgage, never mind the Maseratti. Without wishing to shed crocodile tears, what’s to become of all of these people? Well, they are ...
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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