Salem Mortgage Rates and Information Online from competing Lenders

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Four indicted on charges of mortgage fraud at Salem company Sandown ... - Eagle-Tribune
CONCORD — Two brothers, who worked at a Salem mortgage lending company, and a Sandown couple were charged with skimming approximately $300,000 from national mortgage lenders, according to federal indictments released yesterday. Thomas Ryder, 30, of ...

Brothers Charged With Mortgage Fraud - WMUR.com
CONCORD, N.H. -- Two New Hampshire brothers have been charged in connection with a mortgage fraud scheme. U.S. Attorney Tom Colantuono said Thomas Ryder, 30, of Hopkinton, and his brother, Paul Ryder, 27, of Hudson, and others filed loan applications ...

Hudson man, brother charged in mortgage fraud case - Lowell Sun
CONCORD, N.H. (AP) -- Two New Hampshire brothers have been charged in a mortgage fraud scheme. U.S. Attorney Tom Colantuono says 30-year-old Thomas Ryder of Hopkinton and his 27-year-old brother, Paul Ryder, of Hudson, and others, filed loan ...

Salem doctor sentenced to 120 days in jail in drugs-for-sex case - Daily Herald
A Salem doctor was sentenced Tuesday to 120 days in the Utah County Jail for trading prescription medication for sex. Max Cannon pleaded guilty in October to two counts of distributing a controlled substance, a third-degree felony, and two counts of ...

10 To Watch: Tom Smith - Greensboro Business Journal
GREENSBORO — Nobody told Tom Smith before he got started that organizing the proposed The Gate City’s Community Bank would be easy. But back in February of 2008 when the plans were first announced, few might have predicted it would be quite so ...

Robert Kelly: Good riddance, 2008 - Salem News
If so, go stand in the corner. These words are not meant for you. Enjoy your moment and leave the rest of us alone as we pout and watch the year 2008 recede in memory united by one sentiment: "Goodbye and get out!" The year past featured a seemingly ...

Farewell 2008, welcome 2009 - Salem News
Most of us could be forgiven for feeling that 2008, the year of the crash, can't end soon enough. That may be small comfort. The economic predictions for 2009 aren't much better. But in many ways, it has been a year that could be described by Charles ...

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 ...

Business Digest - HometownAnnapolis.com
State officials want to remind residents that they do not have to pay to file an unemployment-insurance claim. According to a release last week, Department of Labor, Licensing and Regulation officials said there have been several cases of people who ...

New CEO takes over at BB&T - Charleston Gazette
A new chapter at BB&T Corp. began Thursday as Kelly S. King took over as the financial services company's chief executive officer. WINSTON-SALEM, N.C. - A new chapter at BB&T Corp. began Thursday as Kelly S. King took over as the financial services ...

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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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