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News about Mortgages:
Low rates breathe life into mortgage market - Columbus DispatchA recent half-percentage-point drop in 30-year home loans is jolting a mortgage market that has been weighed down by a nose-diving economy and troubled credit markets. Mortgage applications were up 112 percent during the week that ended Nov. 28 ...
Barack Obama draws on America's economic brains - Daily TelegraphDemocrat Nick Allard (Ted Kennedy staffer since 1980) and Republican Ben Ginsberg (Bush elections campaigns) tell Robert Miller what President-elect Barack Obama can do to tackle America's economic troubles even before he takes office. And, what bi ...
Durango passes inclusionary zoning law - Steamboat Pilot & TodayDurango — The Durango City Council adopted its first official affordable-housing policy Tuesday night by passing the Fair Share Housing inclusionary zoning regulations by a 3-2 vote. Councilors Michael Rendon, Scott Graham and Leigh Meigs voted in ...
San Francisco - Orlando SentinelReported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed ...
Experts seeks $1.6M for Cedar Funding work - Monterey County HeraldA contentious hearing could be on tap today in U.S. Bankruptcy Court in San Jose over bills submitted by experts hired by the trustee in the Cedar Funding Chapter 11 bankruptcy. The attorney, real estate adviser and accountant hired by Cedar Funding ...
Barack Obama's dress rehearsal for power - Daily TelegraphBarack Obama didn't appear to be in a rush. On Friday morning, after his daily work-out, he and wife Michelle ambled out of their Chicago home, flanked by their omnipresent security detail, to drive the short distance to their daughters' school ...
State Supremes: unsubstantiated allegations of teacher sexual ... - Spokane Spokesman-ReviewIn a case where the 11 petitioners are all known as John Doe, the state Supreme Court ruled 6-3 this morning that unsubstantiated allegations of teacher sexual misconduct can be withheld from public disclosure. School districts can investigate any ...
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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