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Topic: Mortgage loan


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In the News (Wed 23 Dec 09)

  
 DignityMortgage
Mortgage lenders who sell their loans to Freddie Mac are able to approve and fund more mortgage loans, which in turn are sold to Freddie Mac (or Fannie Mae or Ginnie Mae).
If a mortgage lender is unable to sell a loan to Freddie Mac or other agency, it often must keep that loan in its portfolio (thereby assuming all the risk) or sell it at a loss through other financial institutions.
Freddie Mac was established in 1970, for the purpose of increasing the supply of mortgage loan funds available to commercial banks, savings and loan institutions, credit unions and other mortgage lenders, and to make such mortgage funds more accessible to a greater number of Americans.
www.dignitymortgage.com /MortgageIndustry/FreddieMac.htm   (1331 words)

  
 Federal Home Loan Mortgage Corporation - Wikipedia, the free encyclopedia
The Federal Home Loan Mortgage Corporation ("Freddie Mac") NYSE: FRE, a government sponsored enterprise, is a stockholder-owned, publicly-traded company chartered by the United States federal government in 1970 to purchase mortgages and related securities, and then issue securities and bonds in financial markets backed by those mortgages in secondary markets.
But today, the majority of Freddie Mac's income is derived from the interest rate difference in the corporate debt Freddie Mac issues and the MBS that Freddie Mac's retained portfolio purchases.
Freddie Mac makes money by charging a guarantee fee which is usually a small part of the interest payment of the loans they have securitized into bonds.
en.wikipedia.org /wiki/Federal_Home_Loan_Mortgage_Corporation   (261 words)

  
 Federal home loan mortgage corporation * Home mortgage loan california
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Federal home loan mortgage corporation * Home mortgage loan california
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low.mortgagerates4all.com /london/ever.html   (1108 words)

  
 housing-discrimination.txt
Mortgage lenders whose HMDA data reveals a pattern of substantial disparity in loan denial or approval rates between white and minority applicants or a depressed volume of applications from people of color relative to their position in the local housing market must now be considered suspect under the Fair Lending laws.
A major reason for this inaction was the lack of publicly available data showing the disposition of mortgage loan applications by race of the applicant--the type of data that may be strongly suggestive of discrimination, and used to exert pressure on regulatory agencies to take action and to facilitate civil rights litigation.
From this perspective, loan rate and approval rate data have only limited significance because they do not take into consideration possible differences in mortgage loan demand between minority and white neighborhoods or possible differences in the ability of people of color versus whites to meet credit underwriting criteria.
race.eserver.org /housing-discrimination.txt   (2673 words)

  
 Federal Home Loan Mortgage Corporation (FHLMC)
The FHLMC purchases mortgages from federally-insured financial institutions and resells them in the form of mortgage-backed securities, which it guarantees.
A private, shareholder-owned company that was chartered by Congress in 1970 to create a secondary market in conventional mortgages, thus increasing the supply of funds available to prospective homebuyers.
FHLMC is often called a "government-sponsored corporation" because it was created by Congress and is regulated differently than other corporations.
www.investhub.com /glossary/Federal_Home_Loan_Mortgage_Corporation_FHLMC.htm   (78 words)

  
 FEDERAL HOME LOAN MORTGAGE CORPORATION, PLAINTIFF, v. NEW YORK STATE DIVISION OF HOUSING AND COMMUNITY RENEWAL, DEFENDANT.
Plaintiff, the Federal Home Loan Mortgage Corporation (FHLMC), is a federal corporation chartered as part of the Emergency Home Finance Act of 1970 (12 USC §§ 1451-1459).
The purchasers ceased ownership of their allocable shares, but remained liable on the personal loans acquired to purchase those shares.
The cooperative apartment corporation defaulted on the mortgage and FHLMC foreclosed and purchased the property at a public foreclosure sale.
www.law.cornell.edu /nyctap/I95_0308.htm   (2555 words)

  
 Mortgage broker - Wikipedia, the free encyclopedia
A mortgage broker is normally registered with the state, and personally liable (punishable by revocation or prison) for fraud for the life of a loan.
The top wholesale institutions are Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation, commonly referred to as Fannie Mae and Freddie Mac, respectively.
Mortgage brokers can obtain loan approvals from the largest secondary wholesale market lenders in the country.
en.wikipedia.org /wiki/Mortgage_broker   (1664 words)

  
 12C11A.txt
The Corporation shall not be permitted to use its lending authority under this paragraph (A) to advance funds to a mortgage seller on an interim basis, using mortgage loans as collateral, pending the sale of the mortgages in the secondary market; or (B) to originate mortgage loans.
The term "residential mortgage" is also deemed to include a secured loan or advance of credit the proceeds of which are intended to finance the rehabilitation, renovation, modernization, refurbishment, or improvement of properties as to which the Corporation may purchase a "residential mortgage" as defined under the first sentence of this subsection.
Capitalization of Federal Home Loan Mortgage Corporation -STATUTE- (a) Common stock; issuance The common stock of the Corporation shall consist of voting common stock, which shall be issued to such holders in the manner and amount, and subject to any limitations on concentration of ownership, as may be established by the Corporation.
uscode.house.gov /download/pls/12C11A.txt   (5841 words)

  
 Conference Call, 01/20/97: Federal Home Loan Mortgage Corporation Q4 '96
In 1994 and 1995 when mortgages were out of favor, there was really a drought of liquidity in the mortgage market and the pricing of their mortgage-backed securities compared to Fannie Mae MBS suffered as a result.
The total mortgage portfolio grew at a 7% annualized rate in the fourth quarter and an 8% rate for the year.
The fees that it will generate are attractive and become even more attractive as Loan Prospector is used not only for the evaluation of loans that they invest their capital in, but other loans as well.
www.fool.com /Calls/1997/Calls970120f.htm   (3368 words)

  
 98a1839p.txt
Freddie Mac is a federally chartered, sponsored, and regulated corporation that purchases home mortgages from lenders and sells securities to the public to fund the purchases.
Left without Freddie Mac's business, LiTenda's financial condition deteriorated, and the loan with Hudson went into default.3 When Hudson sought the contract rights it believed it was owed under the loan agreement with LiTenda, Freddie Mac rejected Hudson's claim.
Federal jurisdiction cannot be "lost" by the district court one day and then "found" by the court of appeals later on.
vls.law.vill.edu /locator/3d/apr1998/98a1839p.txt   (4228 words)

  
 And Where Does All That Mortgage Money Come From, Anyway?
The entire system of originating mortgages, including wholesale lenders, mortgage brokers and mortgage bankers is designed so that servicers get loans into their portfolio -- hopefully at a "break even" level -- but often at a loss.
Once your loan has been packaged into a pool and sold to Fannie Mae, Freddie Mac, or Ginnie Mae, the lender gets additional funds so they can make more loans (to service in their portfolio) and sell to those institutions, so they can get more money, and so on....
Mortgage servicing is where they make their profit.
www.realestateabc.com /loanguide/mortgage.htm   (436 words)

  
 Federal Home Loan Mortgage Corporation (FHLMC) Real Estate Agent Glossary
FHLMC has been instrumental in reducing mortgage financing costs thereby lowering housing costs as well as increasing the supply of residential mortgages.
Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are re-sold to investors such as insurance companies and pension funds.
Is a stockholder-owned corporation known as Freddie Mac.
www.realestateagent.com /glossary/real-estate-glossary-show-term-1004-federal-home-loan-mortgage-corporation-fhlmc.html   (162 words)

  
 Federal Home Loan Mortgage Corp. v. Transamerica Insurance Co.
FHLMC took the property subject to a lien in the amount, inter alia, of Associates' second mortgage on the property, the interest owing thereon, and Associates' attorney's fees in the foreclosure action.
Execution of the mortgage does not convey to the mortgagee title that is defeasible on payment of the secured debt, but rather confers on the mortgagee a lien on the property that secures the debt.
Inasmuch as the insurance proceeds were used to satisfy the second mortgage, FHLMC gained through the insurance proceeds a property free and clear of all other liens.
www.hawaii.gov /jud/20691.htm   (4161 words)

  
 NCPA - Federal Spending And The Budget - Taxpayers Pay For Fannie Mae And Freddie Mac
The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) were originally founded as a way for mortgages to be shifted from small banks and thrifts to the capital markets -- reducing the risks borne by lenders and giving them the liquidity to lend again.
As quasi-public institutions, they were accorded certain rights and privileges not available to private mortgage lenders -- exemption from state and local taxes being a particularly valuable one.
Federal Reserve chairman Alan Greenspan wrote that "subsidies accorded...are, of necessity, at the expense of other federal or private-sector initiatives and hence are ultimately financed by householders, either through taxes or through the reduced accumulation of wealth."
www.ncpa.org /pd/budget/pd110800d.html   (297 words)

  
 federal home loan mortgage corporation
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www.getagency.com /federal-home-loan-mortgage-corporation.html   (179 words)

  
 Real Estate Weekly: Usury-avoidance provision in a mortgage is useless - Federal Home Loan Mortgage Corp.'s lawsuit against a limited partnership company
The mortgagor however, claimed that the mortgage loan was usurious and was therefore void.
The Federal Home Loan Mortgage Corporation is not a bank nor is it a savings and loan association.
The loan went into default and the mortgage was foreclosed.
www.findarticles.com /p/articles/mi_m3601/is_7_46/ai_56692325   (1177 words)

  
 Corporation federal home loan mortgage
Loans from £5,000 to £100,000 for homeowners and mortgage payers only.
We now about finance, so we can offer you the best corporation federal home loan mortgage companies.
Also we cover the most relevant categories, such as First Morgages, Finance Help, Home Loans and.
www.finance-today.co.uk /corporation-federal-home-loan-mortgage.html   (154 words)

  
 Federal Home Loan Mortgage Corporation (FHLMC)
The Federal Home Loan Mortgage Corporation (FHLMC) is a federally chartered agency that buys residential mortgages, pools them together, and resells them as mortgage-backed securities (MBS).
The interest and principal guarantees are of high quality but lack the direct guarantee of the federal government.
www.in-the-money.com /glossarynet/Fede0004.htm   (52 words)

  
 Guaranteed Personal Loan - Forward rate agreement, Federal Home Loan Mortgage Corporation, Forward premium, Forward trade 
Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
S&Ls, banks, and mortgage bankers and securities these mortgages for sale into the capital markets.
A Congressionally chartered corporation that purchases residential mortgages in the secondary market from
www.guaranteed-personal-loan.co.uk /glossary118.html   (290 words)

  
 Federal Home Loan Mortgage Corporation
Born in 1970 in the US, owned by the twelve Federal Home Loan Banks, this organisation buys mortgages and resells them in the form of participation certificates (PCs), secured by pools of conventional mortgages.
www.anz.com /edna/dictionary.asp?action=content&content=federal_home_loan_mortgage_corporation   (120 words)

  
 adores.org - fhlmc mortgage loans
Federal Home Loan Mortgage Corporation - definition of Federal Home Loan Mortgag...
Pacific Alaska Mortgage was founded in September 1990 and is approved to do FHA, VA, FNMA, FHLMC, AHFC, Non-conforming, and Second mortgage loans.
Mortgage company with loan programs including home loans, mortgage loans, loans for people with bad credit and loans for people with recent bankruptcy or foreclosure
www.adores.org /sites/fhlmc_mortgage_loans   (679 words)

  
 Arden's General Store - Federal Home Loan Mortgage Corporation (FHLMC) Specimen Certificate in Acrylic
This goes back to the beginning of the Federal Home Loan Mortgage Corporation (FHLMC, or Freddy Mac, or "Flimmic"—a name the CEO of FHLMC in the early 1970s forbade.
Federal Home Loan Mortgage Corporation (FHLMC) Specimen Certificate in Acrylic
Arden's General Store - Federal Home Loan Mortgage Corporation (FHLMC) Specimen Certificate in Acrylic
www.ardenwebsales.com /general_store/FHLMC-certificate.html   (191 words)

  
 federal home loan mortgage corporation
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www.markdoc.com /home-loan--federal-home-loan-mortgage-corporation   (593 words)

  
 Free Housing Market Enhancement Act
Notwithstanding any other provision of law, no Federal funds may be provided, directly or indirectly, to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or any Federal Home Loan Bank.
H. To prohibit the provision of Federal funds to the housing-related government-sponsored enterprises and to remove certain competitive advantages granted under law to such enterprises.
To prohibit the provision of Federal funds to the housing-related government-sponsored enterprises and to remove certain competitive advantages granted under law to such enterprises.
www.theorator.com /bills108/hr3071.html   (1228 words)

  
 NCPA - Federal Spending And The Budget - What Justification For Fannie And Freddie?
The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) are strange entities and unnecessary in today's financial world, critics say.
If the mortgage market is to be opened up to real competition, analysts say, these two outfits should be denied special lines of credit from the Treasury, loopholes enabling them to avoid Securities and Exchange Commission oversight, and special exemption from state and local income tax.
Technically, they are classified as private companies, complete with shareholders and annual profits; but they are subsidized by taxpayer and protected by the federal government from competition.
www.ncpa.org /pd/budget/pd120999a.html   (350 words)

  
 Federal Home Loan Mortgage Corporation: No-Action, Interpretive, and/or Exemptive Letter of July 12, 2002
Federal Home Loan Mortgage Corporation: No-Action, Interpretive, and/or Exemptive Letter of July 12, 2002
Since the Trust Indenture Act of 1939 does not apply to securities issued by Freddie Mac, the Federal Reserve Banks may remain the fiscal agent of Freddie Mac, and no independent trustee is required, for Freddie Mac's unsecured debt securities or mortgage-backed securities;
If we register our common stock under Section 12(g) of the Exchange Act, we will file with the SEC reports of our officers and directors under our Securities Trading Policy, which follows the provisions of Exchange Act Section 16.
www.sec.gov /divisions/corpfin/cf-noaction/freddiemac071202.htm   (774 words)

  
 JPMorgan SymPro Federal Home Loan Mortgage Corporation (FHLMC) Discount Notes
Instrument: The Federal Home Loan Mortgage Corporation (Freddie Mac) issues discount notes as one means of financing a secondary market in conventional residential mortgages.
Freddie Mac transacts mortgage business with banks and thrifts.
FHLMC also issues fixed rate debentures with terms in excess of 1 year
www.jpmorganchase.com /cm/ContentServer?cid=1102380213949&pagename=jpmorgan/ts/TS_Content/General&c=TS_Content   (181 words)

  
 Federal Home Loan Mortgage Corporation - LexisNexis InfoPro - Zimmerman's Research Guide
Federal Home Loan Mortgage Corporation - LexisNexis InfoPro - Zimmerman's Research Guide
"Freddie Mac" buys home mortgages from banks and other lenders and sells shares in these mortgages pools to outside investors.
Bridget shares her expertise and experience in the March Column and all the weekly research tips appearing this month.
www.lexisnexis.com /infopro/zimmerman/disp.aspx?z=1462   (225 words)

  
 Preview Pooling and Servicing Agreement Federal Home Loan Mortgage Corporation; Ameriquest Mortgage Sec Inc.
Mortgage Loans, Trust Fund and Accounts Held for Benefit of the Guarantor.....................108 ARTICLE VIII THE TRUSTEE SECTION 8.01.
Optional Purchase of Defaulted Mortgage Loans by the NIMS Insurer or the Master Servicer.......71 SECTION 3.17.
Repurchase or Substitution of Mortgage Loans by the Seller; Payment of Master Servicer Prepayment Charge Payment Amounts..............................................................43 SECTION 2.04.
library.consusgroup.com /library_pvw/124/124778.asp   (691 words)

  
 Federal Home Loan Mortgage Corporation
a private corporation authorized by the U.S. Congress whose chief function is to buy federally insured home mortgages and help develop nonfederally insured mortgages.
www.factmonster.com /ipd/A0436909.html   (49 words)

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