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Rapids rage - Raleigh News & ObserverGetting there: Take I-40 West to I-85 West. West of I-585, take Exit 29 (Sam Wilson Road). Turn left on Moores Chapel Road, then right on Hawfield Road and follow to the park. Today: Friends and family day. First rafters on the river. Half of the 11 ...
Penland fraud case widened - Raleigh News & ObserverThree banks, including BB&T, become defendants in suit filed by investors BB&T of Winston-Salem and two other banks from outside North Carolina were added as defendants Thursday to a multi-million dollar real estate fraud case. A fourth bank, First ...
People on the Move - Charlotte Business JournalHometown: Columbia, S.C. Education: B.S. in integrated marketing communications, Winthrop University, 2001; enrolled in the weekend executive MBA program at UNC Chapel Hill’s Kenan-Flagler Business School What you like most about your new job ...

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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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