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State colleges get an 'F' for affordability - Hattiesburg AmericanMississippi gets an F in making college affordable. The National Center for Public Policy and Higher Education this week released its biennial report card on how well states provide Americans with education and training beyond high school. Higher ...
Countrywide to make $11.5 million in N.C. refunds - Raleigh News & ObserverStory Tools Mortgage lender Countrywide has agreed to refund $11.5 million to about 4,800 borrowers in North Carolina under a settlement with the state banking commissioner. Countrywide also has agreed to make $2 million in grants to 26 nonprofit ...
Paulson Considers New Plan to Lower Mortgage Rates (Update2) - BloombergDec. 3 (Bloomberg) -- Treasury Secretary Henry Paulson is considering a new plan to lower mortgage rates in an effort to resuscitate the U.S. housing market, a government official said. The Treasury, which already has a program to buy mortgage ...
Study: Dallas area at 'moderate' risk for widespread mortgage defaults - Dallas Morning NewsSan Francisco-based researcher First American CoreLogic rated the Dallas area 174 out of the 376 metropolitan areas it includes in its fourth quarter 2008 mortgage risk forecast. Foreclosures map: Select a location City by city 75001 75002 75006 ...
N. Carolina bickers over who can sue Freddie Mac over losses - The StateA turf battle between state Treasurer Richard Moore and state Attorney General Roy Cooper has cost North Carolina the chance to lead a class action lawsuit against mortgage backer Freddie Mac. At issue is which state agency should handle lawsuits ...
Forecast raises Dallas risk of mortgage defaults to moderate - Dallas Morning NewsThe latest mortgage market measurement gives the Dallas area a moderate risk of widespread mortgage defaults. San Francisco-based researcher First American CoreLogic rated the Dallas area 174th out of the 376 metropolitan areas it includes in its ...
Paulson Considers New Plan to Resuscitate U.S. Housing Market - BloombergDec. 4 (Bloomberg) -- Treasury Secretary Henry Paulson is considering a new plan to reduce mortgage rates in another bid to revive the U.S. housing market, a government official said. The Treasury, which already has a program to buy mortgage- backed ...
Futures Off Lows After Mortgage Gain - CNBCStocks were set to give back some of their sharp gains from Tuesday's session but were off their morning lows after data showed a sharp increase in mortgage applications last week. Mortgage applications staged their largest one-week surge ever ...
Turf battle ends state's chance to lead lawsuit - Raleigh News & ObserverStory Tools A turf battle between state Treasurer Richard Moore and state Attorney General Roy Cooper has cost North Carolina the chance to lead a class action lawsuit against mortgage backer Freddie Mac. At issue is which state agency should handle ...
UPDATE 1-US mortgage applications post largest gain ever - FXStreet.comNEW YORK, Dec 3 (Reuters) - U.S. mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on ...
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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