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News about Mortgages:
Citigroup's Shameful About-Face on Mortgage Mods - Motley FoolIn a shocking switch, banking giant Citigroup (NYSE: C ) is now supporting a Senate bill that would enable bankruptcy judges to modify the rates and principal amounts of mortgage loans on first homes. Note that, under the plan, homeowners don't even ...
Editorial: Region leads in teen births - Memphis Commercial AppealMississippi has risen to number-one status among the states in the latest teen birth rankings, followed by Arkansas in fourth place and Tennessee in eighth. Relatively high teenage birth rates in the South and Southwest are inevitably linked to high ...
M&T Bank Corporation - Chicago TribuneThe stock market closed out 2008 yesterday, finishing a year with the worst performance since the Great Depression after weary investors faced a deep recession, the fallout of the subprime mortgage mess and some of the most volatile trading days in ...
The Man in the Tree - Fauquier Times-DemocratHow much does it cost to keep a man in a tree? You may think that I am speaking metaphorically, where a man is mankind, and tree stands for wood, which stands for lumber, which stands for housing, and this man and this tree have an initial no ...
Jan 04 - Jan 10 (207) - Andrewsullivan.theatlantic.comHe also said he doesn't think anyone at the CIA did anything illegal during interrogations. He says they followed the administration's legal opinions. And the administration lawyers were ordered to find torture legal. Just at about the same time you ...
The Upside of Obama - Article.nationalreview.comThe final nail in the coffin of John McCain’s presidential candidacy, it now seems clear, was the fact that the American economy tanked in the months before the election. Fairly nor not, voters blame such downturns on the incumbent party. Whatever ...
No Mere Buffett, A 14-Course Menu - Seekingalpha.comChicago derivatives consultant Janet Tavakoli is a rare jewel in the financial markets. Arguably best known for weighty textbooks with such alluring titles as ‘Structured Finance & Collateralized Debt Obligations,’ she has a nice sideline in ...
Letters: If state needs your money, give it up - Chico Enterprise-RecordI find fascinating that as our state accumulates an ever-increasing budget deficit, the remarkable number of individuals who advocate a tax increase as a panacea for our financial ailments. Since the state's predicament is directly related to the ...
The Madness of Crowds - Commentary MagazineFueled by easy credit, the real-estate market had been rising swiftly for some years. Members of Congress were determined to assure the continuation of that easy credit. Suddenly, the party came to a devastating halt. Defaults multiplied, banks began ...
Programs helped Tri-Cities keep low foreclosure rate - Johnson City PressSo where did it all go wrong in the affordable housing world, and how has the Tri-Cities managed to avoid the fate of so many communities battered by foreclosures and dropping values? Johnson City’s community development director, Steve Baldwin ...
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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