Federal Home loan Mortgage Firm – FHLMC (Freddie Mac computer)A stockholder-owned organization produced by Congress you to definitely purchases conventional mortgages throughout the secondary mortgage sector from insured depository institutions and HUD-acknowledged home loan bankers. It carries involvement sales licenses safeguarded by the swimming pools of antique home loan financing, their dominant, and you may appeal guaranteed by government from FHLMC. Additionally, it deal Government Federal Mortgage Organization (GNMA, otherwise «Ginnie Mae») ties to increase fund to finance the purchase out-of mortgage loans. Commonly known as «Freddie Mac».
Home loan Revelation Work (HMDA)Government laws and regulations that requires certain types of loan providers so you can harvest and you may reveal study into the cash advance now bad credit in which and to which the home loan and you can household improvement loans are produced
Fannie mae- FNMA (Fannie mae)A great taxpaying business developed by Congress to help with the fresh new additional home loan markets. They orders and you may carries home-based mortgages covered of the Federal Houses Administration (FHA) or guaranteed from the Pros Management (VA) and antique home mortgages. Continuar leyendo «ForeclosureA court procedure where assets mortgaged as coverage to have an excellent financing is available to blow the fresh defaulting borrower’s obligations»