|
Fannie Mae - See Federal National Mortgage
Association.
Farmer's Home Administration (FmHA) - An agency of the U.S. Department of
Agriculture, that provides financing for purchasers of homes and farms in small
towns and rural areas. FmHA also offers a Rural Development Loan which
provide a no down payment loan to low and moderate income families. Go to
our FmHA page for more details about a "100%
No Money Down Rural Development Loan".
FDIC - See Federal Deposit Insurance Corporation below.
Federal Deposit Insurance Corporation (FDIC) - Independent deposit
insurance agency created by Congress to maintain stability and public confidence
in the nation's banking system.
Federal Home Loan Bank Board (FHLBB) - Former name for the regulatory and
supervisory agency of federally chartered savings institutions, now called the
Office of Thrift Supervision.
Federal Home Loan Mortgage Corporation
(FHLMC, or Freddie Mac) -
Quasi-governmental agency that purchases conventional mortgages from insured
depository institutions and HUD-approved mortgage bankers.
Federal Housing Administration (FHA) - Government agency, division of the
Department of Housing and Urban Development, which insures residential mortgage
loans made by private lenders and sets standards for underwriting mortgage
loans. Homebuyers can
put down as little as 3% of the lesser of the FHA appraisal value or the
purchase price, and if refinancing, get a higher mortgage than would be
available under a conforming conventional mortgage.
Qualifying standards are not as strict as most conventional mortgages and
interest rates are slightly lower than conventional loans. For
a list of FHA Loan Limits click here)
Federal National Mortgage Association (FNMA, or Fannie Mae)
- Corporation
created by Congress that buys and sells residential mortgages, providing funds
for one in seven mortgages.
Federal Reserve -"The Fed" - Central bank of the United States and major regulatory
agency for many commercial banks. To view the Federal
Reserve Board General Information page click here.
Federal Reserve Board of Governors - "The Fed Board" -
Congress has assigned to the Federal Reserve Board responsibility for
implementing certain laws pertaining to a wide range of banking and financial
activities. The Board implements those laws in part through its regulations,
which are codified in title 12, chapter II, of the Code of Federal Regulations
(12 CFR 201 et seq.). The "Fed" is the governing body that
sets monetary policy for the United States government. To
view the Structure
of the Federal Reserve Board of Governors web page click here.
Fee Simple -
Absolute ownership of real property.
|
