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Fed Should Bail Out Larry Flynt and Other Porn Magnates - Newsblaze.com
"Adult entertainment moguls Larry Flynt and Joe Francis are asking for a $5 billion bailout from the government, claiming the pornography industry on the decline. Flynt, founder of the porn magazine Hustler, and Francis, 'Girls Gone Wild' producer ...

State to offer mortgage help to Morristown workers - Bridgeton News
People who work in Morristown now may get a shot at living here, too, under a state program that will be announced on Wednesday. The Live Where You Work Program will offer low-interest mortgages and help with down payments and closing costs to low ...

Stocks point lower ahead of employment report - Newsweek
Recommended (6) Hirsh: The Coming Fight Over Re-Regulation Tarullo May Be Key to Economic Team Collision Course The Credit Crunch Crosses the Atlantic Speculators to Blame for High Commodity Prices? Inside Henry Paulson’s Plan The report is ...

Guilty plea in money laundering plot - NorthJersey.com
A Lyndhurst attorney admitted Friday to a money-laundering scheme in which he duped various mortgage title companies out of millions of dollars while he used funds to gamble in Atlantic City casinos, state officials said. Michael P. Rumore, 50, who ...

Mortgage Spreads Decline on Fed Buying - Wall Street Journal
Spreads on mortgage-backed securities have improved in response to the New York Fed’s announcement that it has begun purchases of fixed-rate mortgage-backed securities, but the underlying impact on primary mortgage rates has thus far been muted ...

Economy, seasonality hurt business survival rate on Long Beach Island - Atlantic City Press
SHIP BOTTOM - Sophie Yuan, owner of the Szechuan Gourmet Chinese Restaurant & Sushi Bar, said Thursday that she has lost her business and soon will lose her home, too. She stood in what was a sleek, Zen-styled dining room in the only Chinese ...

Home Devco’s Tivoli Isles faces foreclosure - MSN MoneyCentral
BankAtlantic wants to foreclose on 163 unsold homes in Home Devco’s Tivoli Isles community, west of Delray Beach. The Fort Lauderdale-based bank (NYSE: BBX) filed a notice of foreclosure on Dec. 30 in Palm Beach County Circuit Court against the ...

Commercial Alliance Group Announces Lower Seller Financing Rates for ... - Businesswire.com
New Rates as Low as 4.75% for Luxury Condominium Communities SANFORD, Fla.--( BUSINESS WIRE )--Commercial Alliance Group, Inc., a Florida Corporation (“CAG”), announced on January 5, 2009, that it has reduced its seller financing interest rates ...

Housing Starts Increased in December - CNW Group
CHARLOTTETOWN, Jan. 9 /CNW/ - Residential construction in urban centres of the province increased in December, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates that a total of 43 ...

Housing starts moderate in December - CNW Group
OTTAWA, Jan. 9 /CNW Telbec/ - The seasonally adjusted annual rate(1) of housing starts was 177,300 units in December, down marginally from 178,000 units in November, according to Canada Mortgage and Housing Corporation (CMHC). "Housing starts in ...

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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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