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News about Mortgages:
Canadian mortgage professionals polish image - Prince Edward Island GuardianVANCOUVER — The Canadian mortgage industry is polishing its image in the wake of the subprime mortgage meltdown south of the border by boosting its education standards and forcing new members to earn their stripes before landing a professional ...
Canadian mortgage professionals polish image in wake of U.S. subprime ... - Canada EastVANCOUVER, B.C. - The Canadian mortgage industry is polishing its image in the wake of the subprime mortgage meltdown south of the border by boosting its education standards and forcing new members to earn their stripes before landing a professional ...
Market change is good news for buyers - Globe and MailYou could easily pardon anyone looking for a new condominium today for having a case of the jitters. Every day we are bombarded by U.S. reports of a housing market meltdown. CNN headlines a survey that shows one of every 452 homes in the United ...
Jury awaits instructions in Willan mortgage-fraud trial - Akron Beacon JournalThe evidentiary phase of the trial of former Evergreen Corp. President David B. Willan ended with the jury being sent home this afternoon. The judge and lawyers from both sides continued working on instructions regarding the law. Common Pleas Judge ...
RBS doubles grace period to six months for homeowners - HeraldThe Royal Bank of Scotland yesterday pledged to give struggling homeowners a six-month period of grace before launching repossession action, prompting calls for other lenders to "raise the bar". As MPs put pressure on banks and lenders to follow the ...
Queen's Speech: Banks must give rate warning - This is MoneyIn a surprise move, families who find it difficult to meet their mortgage payments in the downturn are in line for extra support. The Prime Minister was unveiling the new package today alongside a raft of bills to crackdown on banks. He has pinned ...
U.S. Treasury Yields Drop to Record Lows on Recession Concern - BloombergDec. 1 (Bloomberg) -- Treasuries rose, sending yields to record lows, as a report showed U.S. manufacturing contracted in November at the fastest pace in 26 years. The yields on two-, 10-, and 30-year securities fell to record lows as global stock ...
Evergreen defense rests, jury sent home - Akron Beacon JournalThe evidence phase of the Summit County trial of former Evergreen Corp. President David B. Willan ended Monday afternoon, with the jury being sent home for the day. Afterward, the judge and lawyers from both sides worked on instructions for the jury ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Ms. Jordan is a former operations vice president at Bank of America, her job was eliminated in 2008. Prior to Bank of America, Jordan spent ...
More Canadians Opting for Variable Rate Mortgages - Economicnews(CEP News) Ottawa - Canadians are increasingly opting for variable rate mortgages when it comes time to buy or refinance a home, according to survey results released by the Canadian Association of Accredited Mortgage Professionals (CAAMP). The market ...
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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