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Mortgage giants extend suspensions of foreclosures - Associated Press
WASHINGTON (AP) -- Mortgage giants Fannie Mae and Freddie Mac said Thursday they will extend the suspension of foreclosure sales and evictions from single-family homes through the end of January. The companies had suspended foreclosures through the ...

Paulson says changes needed at Fannie, Freddie - AOL
WASHINGTON -Treasury Secretary Henry Paulson said Wednesday that allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option. Congress and the next administration must decide the proper role government ...

Investors buy $558 million in mortgages from FDIC - Associated Press
WASHINGTON (AP) -- A group of private investors including former executives of Countrywide Financial Corp. has purchased $558 million in home mortgages from the government in a deal involving assets of the failed First National Bank of Nevada, the ...

Obama Uses Campaign Tactics to Sell Stimulus Plan to Congress - Bloomberg
Jan. 9 (Bloomberg) -- President-elect Barack Obama ’s top political aides are adapting their campaign tactics to selling policy, using data from polls and focus groups to shape the debate over a stimulus plan that may cost at least $775 billion ...

Samberg’s Pequot Said to Face New Insider-Trade Probe (Update1) - Bloomberg
Jan. 8 (Bloomberg) -- The U.S. Securities and Exchange Commission opened a new investigation into whether Pequot Capital Management Inc., the hedge fund run by Arthur Samberg , illegally profited in 2001 by tapping inside information on Microsoft ...

Interest Rates On 30-Year Fixed Mortgage Loans Down For 10th Straight ... - All Headline News
Washington, D.C. (AHN) - A recent Freddie Mac poll showed that average mortgage rate in the U.S. has gone down to 5 percent, its lowest level in decades. It was the 10th straight week that the mortgage lending rates on 30-year fixed loans declined ...

Plunging mortgage rates hit record low - Buffalo News
WASHINGTON — Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago. Rates have been falling since late November, when the Federal ...

30-year mortgage rates are at historic low - Baltimore Sun
WASHINGTON Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago. Rates have been falling since late November, when the Federal ...

Citigroup supports measure giving courts big say on mortgage ... - Los Angeles Times
Senate Majority Leader Harry Reid of Las Vegas, second from left, speaks at a news conference in Washington. He is joined by Sens. Charles E. Schumer (D-N.Y.) , left, Patty Murray (D-Wash.) and Richard J. Durbin (D-Ill.). Citigroup is now backing ...

Citigroup, Democrats reach mortgage deal - Sacramento Bee
WASHINGTON – Key congressional Democrats on Thursday reached an agreement with financial giant Citigroup Inc. on a proposal to make it easier for bankruptcy judges to adjust the terms of home loans and possibly forestall many foreclosures ...

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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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