ForeclosureA legal techniques in which property mortgaged because the coverage for a great financing is available to expend the fresh defaulting borrower’s financial obligation

Federal Mortgage Financial Corporation – FHLMC (Freddie Mac computer)A stockholder-possessed organization produced by Congress one instructions antique mortgage loans on the supplementary mortgage market off covered depository establishments and you may HUD-approved mortgage lenders. It offers contribution conversion process certificates shielded from the pools off traditional financial money, their dominating, and notice guaranteed by government from FHLMC. it offers Government National Financial Relationship (GNMA, or „Ginnie Mae“) bonds to raise loans to invest in the acquisition out of mortgage loans. Popularly known as „Freddie Mac“.

Mortgage loan Revelation Operate (HMDA)Federal laws and regulations that requires certain kinds of lenders to assemble and you may divulge studies with the in which in order to just who its financial and you can home update funds are made

Fannie mae- FNMA (Federal national mortgage association)An effective taxpaying enterprise created by Congress to support new supplementary home loan sector. […]