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Oil prices slip on weak global demand - News1130.com
VIENNA, Austria - Worries about global economic growth and expectations of a weak U.S. jobs report pushed oil prices lower Friday, despite concern about fighting in Gaza and evidence that OPEC production cutbacks were taking hold. Oil prices had ...

Crude falls below $40 for first time in 2009 - Forbes
Oil prices dipped below $40 per barrel Friday for the first time this year as the government reported the nation's worst annual job losses since World War II. People are traveling less, manufacturers are slashing production and there are job cuts ...

Crude oil falls below US$40 a barrel for first time in 2009 - Edmonton Sun
COLUMBUS, Ohio - Oil prices dipped below US$40 per barrel Friday for the first time this year as the government reported the worst annual job losses in the United States since the Second World War. People are travelling less, manufacturers are ...

Navy Federal Credit Union Commits $6 Billion for Mortgage in 2009 - PR Newswire
VIENNA, Va., Jan. 5 /PRNewswire-USNewswire/ -- Navy Federal is pleased to announce that $6 billion has been committed to new mortgages for Navy Federal members in 2009, whether they're buying a new home or refinancing. This new commitment follows ...

Navy Federal commits $6B to mortgages - Washington Business Journal
Navy Federal Credit Union plans to commit $6 billion to new mortgages for its members buying a home or refinancing. Mortgage originations totaled more than $5.7 billion last year -- the second-highest year for originations in Navy Federal’s 75-year ...

Banks move ahead with expansions despite recession - HometownAnnapolis.com
Despite a national recession, several banks are moving forward with branch expansions in Anne Arundel County even as they sell off shares to the federal government for fresh capital in return. Bank officials said they committed to several new county ...

EUROPE NEWS AT 1200GMT - PR Inside
VIENNA, Austria _ Europe sounds the alarm after days of downplaying the Russia-Ukraine gas dispute amid reports of significant supply shortfalls to a growing number of countries. Governments urge consumers to cut back, and the EU says spigots were ...

US Congress to start probe of Madoff Ponzi scheme - Earthtimes
Washington - The US Congress on Monday was to open a probe into Bernard Madoff's alleged 50-billion-dollar Ponzi scheme that has lost billions for investors in the US and abroad. The House Financial Services Committee intends to grill people ...

TRUMBULL COUNTY - Vindicator
Jerry D. Ladd Jr., 32, of 112 Westgate Drive, Newton Falls, and Carol J. Oller, 30, of same. James E. Exline, 25, of 4773 Fifth Ave., Youngstown, and Candina M. Chamberlain, of same. Charles Zajaczkowski, 50, of 186 W. Main St., West Farmington, and ...

THE COMING STORM - Egypt Monthly
While the worldwide economic slowdown will affect numerous segments of the domestic economy, arguably one of the most impacted sectors will be the tourism industry. In essence, Egypt is exporting services when travelers visit, and demand for these ...

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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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