Government Mortgage Mortgage Corporation – FHLMC (Freddie Mac computer)A stockholder-possessed organization developed by Congress one to sales traditional mortgage loans on second financial field of insured depository establishments and you can HUD-accepted mortgage lenders. They deal contribution conversion process licenses secured because of the pools away from antique financial financing, their prominent, and desire protected of the government from FHLMC. In addition it carries Authorities Federal Financial Relationship (GNMA, otherwise «Ginnie Mae») securities to increase fund to finance the acquisition out-of mortgages. Often called «Freddie Mac».
Home mortgage Revelation Work (HMDA)Government laws that really needs certain types of lenders so you’re able to gather and you will reveal analysis to the in which and also to which its home loan and family improve loans are increasingly being generated
Fannie mae- FNMA (Federal national mortgage association)A good taxpaying business created by Congress to help with the fresh new secondary financial market. They purchases and you will offers residential mortgages covered from the Government Houses Administration (FHA) or protected of the Pros Administration (VA) including conventional home mortgages. Continuar leyendo ForeclosureA legal procedure in which property mortgaged given that protection for an effective mortgage comes to spend new defaulting borrower’s financial obligation