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News about Mortgages:
British Home Repossession, Mortgage Arrears Climbs - News Room AmericaThe number of Britons losing their homes to mortgage lenders rose by 12 percent in the third quarter to 11,300. The Council of Mortgage Lenders also said the number of borrowers in arrears also went up compared with the previous quarter, by eight ...
No quick fixes seen from key mortgage report - MSN UK NewsLONDON (Reuters) - Government guarantees for mortgage-backed bonds and allowing lenders to swap loans for easily saleable government debt could be among proposed remedies for the ailing mortgage market in a report due out on Monday. However, analysts ...
Tax cut plans not a gamble, says PM - Evening StandardPrime Minister Gordon Brown denied that the massive package of tax cuts expected in the Pre-Budget Report would be a "gamble", insisting action was "necessary and responsible". Chancellor Alistair Darling will deliver the Government's crucial ...
London and South East to bear the brunt, losing one in 12 jobs - Times OnlineWorkers in London and the South East are likely to be worst hit by the recession, with one in 12 jobs being cut in the next 18 months, according to an analysis today. The warning by the Local Government Association (LGA) came as Britain’s biggest ...
UK's mortgage market in graphics - BBC NewsA 1.5 percentage-point cut in interest rates by the Bank of England's Monetary Policy Committee will make mortgage repayments cheaper for millions of people in the UK. Here is a snapshot of the current state of the UK mortgage market in graphics ...
London housing market due to slide, CMHC says - The London Free PressLondon's housing market will start to slide next year with home prices rising only two per cent, says a forecast from the Canada Mortgage and Housing Corporation. (CMHC). At a housing-outlook conference today, CMHC analyst David Lan said slow ...
Bank Bond Risk at One-Month High as TARP Hurts Mortgage Assets - BloombergNov. 18 (Bloomberg) -- The cost of protecting bank bonds from default rose to the highest in almost a month as prices of mortgage-linked securities tumble following Treasury Secretary Henry Paulson's changes to the Troubled Asset Relief Program ...
Banks are still up to their old tricks - This is MoneyA jobless drug addict tells how a bank salesman speaking like a gangster offers him a loan he can't afford, while a businessman with a perfect credit record for 40 years is fobbed off by another bank. Crazy? That's not the half of it In London on ...
Homeless warning amid unemployment - Evening StandardThe UK is facing a "homelessness timebomb" as a third of people would lose their homes within three months if they lost their job, a survey said. The poll commissioned by homeless charity Crisis revealed 33% of the working population could face ...
Banks charge more for new mortgages - The IndependentNew tracker deals may be out of reach for homeowners with mortgages worth more than 80 per cent of their property's current value Britain's mortgage lenders are continuing to raise their interest rates for new customers and neglecting to pass on the ...
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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