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News about Mortgages:
Mortgage application volume hits multiyear low - Lincoln Daily News[ August 20, 2008 ] N EW YORK (AP) -- Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said Wednesday. The fall in application volume is the latest sign of a struggling housing ...
State won't renew license of Hellertown mortgage brokerage - Allentown Morning CallThe Pennsylvania Banking Department today said it has refused to renew a Hellertown mortgage brokerage's license, saying its officers for years ignored information that had been falsified to get loans approved. The department took the action against ...
Pennsylvania Department of Banking Announces Enforcement Action ... - EarthtimesHARRISBURG, Pa. , Aug. 20 /PRNewswire-USNewswire/ - - A mortgage broker with offices in Northampton and Chester counties has lost its licenses because of alleged fraud committed by its employees. Secretary of Banking Steve Kaplan today said the ...
Hole in the funding - Boston GlobeThe $650 million redevelopment of the historic Filene's building - which Mayor Thomas M. Menino envisions as the new center of downtown Boston - is struggling because the developers have been unable to raise financing. An executive with knowledge of ...
Dare co-defendant gets nine months in fraud scheme - Times UnionALBANY -- A Glenmont businessman who conspired to commit an elaborate real estate scheme with Aaron R. Dare, the former head of Albany's defunct Urban League, was sentenced this morning to nine months in federal prison. Berne A. Watkins, 71, a real ...
Adapted from: Obama's Challenge: America's Economic Crisis and the ... - Huffingtonpost.comIs bound in shallows and in miseries. -- Shakespeare, Julius Caesar Barack Obama could be the first chief executive since Lyndon Johnson with the potential to be a transformative, progressive president. By that I mean a president who profoundly ...
Producer Prices Up 1.2% In July - Washington PostCathy Tozzi shops at her local dollar store Friday in New York. Tozzi, who lives in Brooklyn, N.Y. has cut back. "I shop at the 99 cent stores. There are ways of saving money." Even so, she worries about inflation "eating into my savings." (Mark ...
Beutler's home stimulus plan laid out - Lincoln Journal StarA home stimulus proposal was laid out for the Lincoln City Council during an informal meeting Monday, and the plan has been expanded to include existing homes, not just new houses. The mayor wants to encourage people to buy and build homes by ...
Alcoa Ford dealership shutting down - WATESlow sales are forcing an Alcoa car dealership to close its doors. Wednesday afternoon, employees at Neill Sandler Ford Lincoln Mercury were given a letter saying August 20 will be the dealerships last day for normal business. A Tennessee company ...
Lehman mulls sale of money management unit - International Herald TribuneLehman Brothers, the troubled investment bank, is considering the sale of all or part of its prized money management division to private equity firms to raise billions of dollars of capital and ease the pressure caused by losses related to real ...

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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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