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News about Mortgages:
Thornburg cuts work force - New Mexico Business WeeklySanta Fe’s Thornburg Mortgage Inc. announced Tuesday that the company has reduced its staff by 29 sales and support positions in its home lending division. The company has battled to stay alive since its Wall Street funding sources dried up in ...
Thornburg forced to make interest payments with notes - New Mexico Business WeeklyThornburg Mortgage Inc. received the consent of holders of its Senior Subordinated Secured Notes to make their most recent interest payment — 18 percent due Sept. 30 — in additional notes, rather than cash, a move necessitated by the company's ...
REGION: Cunningham figure gets probation - North County TimesSAN DIEGO ---- A New York financier was sentenced Thursday to five years' probation and 1,000 hours of community service on charges stemming from the corruption case against former U.S. Rep. Randy "Duke" Cunningham. U.S. District Judge Larry Burns ...
Probation for minor figure in bribe case - San Diego Union-TribuneFEDERAL COURT – A peripheral figure in the bribery scandal that ensnared former Rep. Randy “Duke” Cunningham was sentenced to five years' probation by a San Diego federal judge yesterday, bringing the three-year-old case closer to finality ...
Student pilot: Sure I was going to die - San Diego Union-TribuneSAN DIEGO – A 31-year-old student pilot who was at the controls when the engine of the small plane she was flying cut out over the Palomar Mountains Thursday said she was sure she was going to die. But the instructor of the two-seat Cessna 152 ...
U.S. Stock Futures Rise as Lawmakers Support Bank Rescue Bill - BloombergOct. 3 (Bloomberg) -- U.S. stock-index futures climbed as lawmakers who helped defeat a $700 billion bank-rescue package said they may switch their votes today and investors increased bets the Federal Reserve will cut interest rates. Wachovia Corp ...
Man accused of deliberate collision - Gainesville SunClay County deputies allege a Keystone Heights man deliberately crashed into a woman’s car as she was driving on Immokalee Road last week. Aaron Elijah Goodin, 28, is facing charges of aggravated battery and possession of a short-barreled shotgun ...
Thornburg Boosts Write-Down 58% - CNBCOn March 7, the Santa Fe, New Mexico-based company projected a $427.8 million write-down and restated 2007 results to reflect the charge. The lender said it increased the charge to comply with accounting rules, saying it may not be able to hold the ...
Thornburg Mortgage Announces Amendment and Extension of Exchange Offer ... - Businesswire.comSANTA FE, N.M.--( BUSINESS WIRE )--Thornburg Mortgage, Inc. (NYSE: TMA), announces that it is amending its Exchange Offer and Consent Solicitation (the “ Exchange Offer ” ) for all outstanding shares of its 8.00% Series C Cumulative Redeemable ...
Thornburg Mortgage at risk after new margin calls - ReutersNEW YORK (Reuters) - Thornburg Mortgage Inc (TMA.N: Quote , Profile , Research , Stock Buzz ), a struggling specialist in jumbo home loans, said it may run short of cash after getting surprise margin calls that threaten a restructuring critical to ...

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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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