ForeclosureA courtroom processes where assets mortgaged given that safety to possess a financing comes to expend brand new defaulting borrower’s loans
Government Mortgage Mortgage Company – FHLMC (Freddie Mac computer)A stockholder-possessed enterprise developed by Congress one to orders antique mortgage loans in the secondary home loan industry out of insured depository associations and you may HUD-accepted mortgage bankers. It carries contribution conversion process permits protected by pools from conventional financial money, its dominating, and you will attention secured by the national from the FHLMC. It also carries Bodies Federal Mortgage Association (GNMA, otherwise “Ginnie Mae”) ties to improve finance to finance the acquisition regarding mortgage loans. http://www.elitecashadvance.com/loans/3000-dollar-payday-loan/ Commonly known as “Freddie Mac”.
Home loan Revelation Act (HMDA)Federal guidelines that really needs certain types of lenders to compile and you can reveal analysis towards the in which also to whom its mortgage and you may house improve financing are increasingly being made
Fannie mae- FNMA (Fannie mae)A great taxpaying enterprise developed by Congress to support the fresh new supplementary mortgage market. It instructions and you may deal domestic mortgages covered by the Government Construction Government (FHA) otherwise guaranteed by the Experts Administration (VA) and additionally traditional mortgage loans.더 보기 »ForeclosureA courtroom processes where assets mortgaged given that safety to possess a financing comes to expend brand new defaulting borrower’s loans