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Jurors hear confession tape in Randolph murder trial - Newark Star-Ledger
After police caught Jonathan Zarate and two teen-agers trying to dump a trunk containing a Randolph girl's beaten and dismembered body into the Passaic River in Rutherford, Zarate told an investigator he had found his next-door neighbor dead. "I ...

Mortgage refinancing rush is on - Milwaukee Journal Sentinel
Experts say everybody's case is unique and depends on the type and status of the mortgage, refinancing costs, overall finances and plans for the home. But there are some common factors to consider: How long will it take to recover the up-front costs ...

On the Job - Northern Colorado Business Report
Bill Friedman and Steve Mason have been elected as new directors of Legacy Land Trust. Re-elected to the board are Sheila Baker, Jean Sutherland and Bud Clemons. Friedman is a retired member of the District of Columbia Bar. Mason, a former ...

Neel Kashkari: Space engineer to "bailout czar" - Seattle Times
"Bailout czar" Neel Kashkari arrives on Capitol Hill last month. The 35-year-old former space engineer and Wharton MBA is head of the Treasury Department's new Office of Financial Stability. WASHINGTON — In a way, Neel Kashkari's job has always ...

TheStar.com | Business | Feds back inter-bank lending - Toronto Star
OTTAWA — Finance Minister Jim Flaherty today threw the big banks another life ring during the current credit crunch by creating a federal lending assurance program that will guarantee loans made by the major financial institutions. "Today I am ...

Bailout czar Kashkari stresses stability - Louisville Courier-Journal
Today he's known as the 35-year-old whiz kid appointed czar of the Treasury Department's $700 billion financial bailout. But in a past life, he was a young engineer working on the James Webb Space Telescope, planned as the even-more-intricate ...

Beautiful Miss Idaho in LCHS Parade - Spokane Spokesman-Review
How about a photo of Coeur d'Alene's newest Sweetheart to end the week? Miss Teen Idaho, Estrella Atkinson , a senior at Lake City High School, along rain soaked Sherman Avenue, Friday afternoon during the Lake City High School Homecoming Parade ...

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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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