|
Meridian
Financial
4501 E. La Palma, Suite 150
Anaheim, CA 92807
Phone: 1-866-333-1500 (Toll Free)REAL ESTATE AND MORTGAGE TERMS: F
- FNMA is one of the major secondary market investors that purchases loans from mortgage
companies and other depository institutions. The company is a private corporation and its
stock is traded on the New York Stock Exchange.
- The board which oversees the Federal Home Loan Bank systems.
- Provides liquidity to supervised financial service companies, such as savings and loans
and credit unions. The bank system has several districts.
- The board which charters and forbids discrimination in the sale.
- A government sponsored agency that is also a publicly traded company on the New York
Stock Exchange that purchases mortgage loans from mortgage bankers and financial
depository institutions. FHLMC is a major secondary market investor.
- A federal agency which insures first mortgages, enabling lenders to loan a very high
percentage of the sale price.
- See Fannie Mae.
- The regulatory agency for certain commercial banks and bank holding companies. Sets
monetary policy for the country and provides liquidity for supervised financial
institutions.
- A lien attached to property for nonpayment of a federal tax.
- The U.S. government's method to identify individual and company's annual tax
responsibility. The tax returns identify the income and taxes.
- Highest possible degree of ownership of land. The estate allows owners to have
unrestricted powers to dispose of property, and which can be left by will or inherited.
- A person in a position of trust or responsibility with specific duties to act in the
best interest of a client. Real estate brokers and mortgage brokers are fiduciaries.
- Banks, savings and loans or credit unions.
- Mortgage holding priority over the claims of subsequent lenders against the same
property.
- Personal property affixed to structures or land, usually in such manner that they cannot
be independently moved without damage to themselves or the property housing, supporting,
or pertinent to them. Varies under state laws.
- A proceeding in or out of court to extinguish all rights, title and interest of the
owner (s) of a property in order to sell the property and satisfy a lien against it.
- See Federal Home Loan Mortgage Corporation.
- Revealing all known facts which may affect the decision of a buyer or tenant.
- Impairment of functional capacity or efficiency. For example, homes without indoor
plumbing (while they may contain working outdoor plumbing facilities) are considered
functionally obsolete.
GLOSSARY: |