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News about Mortgages:
Paulson says changes needed at Fannie, Freddie - San Jose Mercury NewsWASHINGTON—Treasury Secretary Henry Paulson said Wednesday that allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option. Congress and the next administration must decide the proper role government ...
NY Fed begins purchasing mortgage securities - San Jose Mercury NewsNEW YORK—The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. The program, initially announced Nov. 25, allows the Fed to spend $500 billion to buy ...
Seven investors to buy IndyMac - Pottstown MercuryWASHINGTON — A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one of the largest casualties of the housing bust, for $13.9 billion. IndyMac ...
More High Street jobs to go? - Weston MercuryWORKERS at another Weston shop saw their futures plunged into uncertainty today, as press reports warned another major retailer looks set to shed jobs. National newspapers predicted that Marks and Spencer is set to axe 1,000 shop floor jobs around ...
'Sin City' feeling downturn - Pottstown MercuryNo comments posted. Lavana Jackson, 52, a souvenir shop manager, waits for the traffic signal while walking to a bus stop to catch a bus home in Las Vegas. **ADVANCE FOR WEEKEND, JAN. 2-4** Elvis impersonator Jesse Grice walks down the Fremont Street ...
Please visit these local CapeCodToday sponsors: - Cape Cod Today- Barnstable Police Detective Sgt. John Murphy about 80-year-old Cape man’s disappearance. Cape man sentenced for stealing mother's pension John O'Donnell Jr. formerly of Harwich gets 5 months for $140,000 A former Cape Cod man who continued to ...
Home sales are up but prices are falling: Who's buying houses? - Santa Cruz SentinelMercury News First-time home buyers Andrew and Kaori Nielson made a deal on a two-bedroom San Jose townhouse last month, even though they knew that property values are falling. ''We probably would have waited longer, but our lease was up, and we have ...
Ford ready to roll out desirable new hybrid - Boston GlobeAs we know from the literary works of Cormac McCarthy, despair can be kind of gratifying. And yet, as much as I hate to disturb our national mood of decline, I have some good news regarding the auto industry. The 2010 Ford Fusion Hybrid, and its twin ...
Still Rolling: Auto dealers say gloom and doom reports exaggerated - Citizen TribuneIt may simply be a case of survival of the fittest. The doors have slammed shut on Lifetime KIA of Morristown. Other automobile dealerships in the Lakeway Area, however, are conducting business as usual. Admittedly, usual is a bit different these ...
FORD'S DECEMBER SALES DROP 32 PERCENT - New York PostDETROIT - Ford Motor Co.'s U.S. sales plummeted 32 percent in December and Toyota Motor Corp.'s fell 37 percent as car and truck buyers continued to steer clear of showrooms due to the dismal economy. Ford's sales for 2008 fell 21 percent from a year ...
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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