Tappahannock Mortgage Rates and Information Online from competing Lenders
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News about Mortgages:
Downey Seized, Sold to U.S. Bancorp as Mortgage Fallout Spreads - BloombergNov. 22 (Bloomberg) -- Seizure and sale of Downey Financial Corp. and two smaller lenders may cost the FDIC more than $2 billion as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression. U.S. Bancorp ...
Federal Regulators Shut 2 California Thrifts - ABC NewsFederal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. Georgia regulators have shut down The Community Bank, the 20th failure this year ...
State regulators shut failed bank in Georgia - International Herald TribuneWASHINGTON : Georgia state regulators on Friday shut down The Community Bank, the 20th failure this year of a federally insured institution in the United States. The Federal Deposit Insurance Corp. was appointed receiver of the bank, located in ...
FDIC Seizes Three - Washington PostFederal regulators seized three banks last night, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the ...
Trust in Calif.; 22 banks have failed this year - NewsdayWASHINGTON (AP) _ Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in ...
US regulators shut 2 California banks - International Herald TribuneWASHINGTON : U.S. regulators have shut down two banks based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport Beach, and ...
Regulators Shut Failed Bank in Georgia - ABC NewsGeorgia regulators on Friday shut down The Community Bank, the 20th failure this year of a federally insured institution. Georgia regulators have shut down The Community Bank, the 20th failure this year of a federally insured institution. The Federal ...
Three banks in California, Georgia fail - CNN MoneyNEW YORK (CNNMoney.com) -- Three more banks - two in California and one in Georgia - failed Friday, bringing to 22 the number of institutions forced to close in the wake of the financial crisis. The Federal Deposit Insurance Corp. said the banking ...
Number of U.S. Bank Failures This Year Hits 22 - FOX NewsWASHINGTON — Federal regulators on Friday shut down two big thrifts based in Southern California , saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association , based in ...
Feds shutter two thrifts, Ga. bank - USA TodayWASHINGTON — Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in ...
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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