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Real Estate - Federal act to ensure that credit bureaus are fair and accurate protecting the individual's privacy rights enacted in 1971 and revised in October 1997.
US Department of Housing and Urban Development - Cite This Source - This Definition - A consumer protection law that regulates the disclosure of consumer credit reports by credit reporting agencies and specifies procedures for challenging errors on a credit record.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Collection Account, Credit, Credit bureau, credit counseling, Credit Grantor, Credit History, Credit Life Insurance, Credit Repair Companies, Credit report, Homestead Credit, Merged Credit Report, National Credit Repositories
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Real Estate - The hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.
US Department of Housing and Urban Development - Cite This Source - This Definition - The price a property can realistically sell for, based upon comparable selling prices of other properties in the same area.
Ginnie Mae - Cite This Source - This Definition - The price at which property would be transferred between a willing buyer and willing seller, each of whom has a reasonable knowledge of all pertinent facts and is not under any compulsion to buy or sell.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Appraisal, appraisal fee, Appraised Value, Appraiser, Comparables, Comparative Market Analysis (COMPS), Eminent Domain, Equity, market value, property appraisal
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Real Estate - A private corporation that specializes in buying primarily FHA and Va loans. Formerly called the "Federal National Mortgage Association (FNMA)."
U.S. Census Bureau - Cite This Source - This Definition - Federal National Mortgage Association (FNMA); a federally-chartered enterprise owned by private stockholders that purchases residential mortgages and converts them into securities for sale to investors; by purchasing mortgages, Fannie Mae supplies funds that lenders may loan to potential homebuyers. Also known as a Government Sponsored Enterprise (GSE).
US Department of Housing and Urban Development - Cite This Source - This Definition - Nickname for Federal National Mortgage Association (FNMA).
Ginnie Mae - Cite This Source - This Definition - A New York stock exchange company. It is a public company that operates under a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae does not lend money directly to consumers, but instead works to ensure that mortgage funds are available and affordable, by purchasing mortgage loans from institutions that lend directly to consumers.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Fannie Mae-Seller/Servicer, Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Ginnie Mae, Government National Mortgage Association (Ginnie Mae), Government National Mortgage Association (GNMA or Ginnie Mae), mortgage banker, Secondary market, Secondary Mortgage Market
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Real Estate - The current 2004 Fannie Mae/Freddie Mac loan limit for a single-family home is $333,700 and is higher in Alaska , Guam , Hawaii , and the U.S. Virgin Islands. The Fannie Mae loan limit is $427,150 for a two-unit home; $516,300 for a three-unit home; and $641,650 for a four-unit home. Also referred to as the "conventional loan limit."
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: conforming loan, Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Freddie Mac, GSE, Jumbo Loan, non-conforming loan