All > Business > 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.
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.
- Browse Related Terms: Capital Gain, Credit bureau, Credit Repair Companies, Credit Union, Equal Credit Opportunity Act, Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act, Fair Housing Act, Merged Credit Report, National Credit Repositories
All > Business > Real Estate
A law that prohibits discrimination in all facets of the home buying process on the basis of race, color, national origin, religion, sex, familial status, or disability.
- Browse Related Terms: Capital Gain, Credit bureau, Credit Repair Companies, Credit Union, Equal Credit Opportunity Act, Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act, Fair Housing Act, Merged Credit Report, National Credit Repositories
Also listed in:
- All > Business > Finance > Personal Finance
All > Business > Real Estate
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.
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.
The price a property can realistically sell for, based upon comparable selling prices of other properties in the same area.
- Browse Related Terms: acceptance, affidavit, Asking Price, Assumable Mortgage, Assumption Clause, Assumption Fee, Assumption of mortgage, Bona fide, Creative financing, Disclosures, Earnest Money, Fair market value, HUD-1 Settlement Statement, non-assumption clause, Offer, Owner Financing, prorate, Rescission, Sale-Leaseback, Seller Take-Back
Also listed in:
- All > Business > Finance > Personal Finance
- All > Law > Common Legal Terms
- All > Science > Energy
All > Business > Real Estate
HUD uses this term to describe a single person, a pregnant woman or a household with children under 18 living with parents or legal custodians who might experience housing discrimination.
- Browse Related Terms: Asset, assignment, Casualty Protection, Chattel mortgage, Estate, Executor, Familial Status, Manufactured Housing, Replacement Cost, Trustee
All > Business > Real Estate
A semicircular or semielliptical window above a door, usually inset with radiating glazing bars.
- Browse Related Terms: Color, Drip molding, Enframement, Fanlight, French door or French window, Head, Hood, member, Mullion, Oriel, Palladian Window, Reveal, Sill, Stile, Stoop, Surround, Transom, Transom bar
All > Business > Real Estate
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).
Nickname for Federal National Mortgage Association (FNMA).
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.
A private corporation that specializes in buying primarily FHA and Va loans. Formerly called the "Federal National Mortgage Association (FNMA)."
- Browse Related Terms: Fannie Mae, Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Freddie Mac, Government National Mortgage Association (GNMA or Ginnie Mae), housing affordability index, Loan Servicer, Mortgage pool, Quality Control, Secondary market, Secondary Mortgage Market, Soldiers and Sailors Civil Relief Act, Subordinate
Also listed in:
- All > Business > Finance > Personal Finance
All > Business > 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."
- Browse Related Terms: Conforming Loan, Fannie Mae-Seller/Servicer, Fannie Mae/Freddie Mac Loan Limit, Federal Home Loan Mortgage Corporation (FHLMC), GSE, Jumbo Loan, Mortgage Banker, Non-Conforming loan
All > Business > Real Estate
A lender that Fannie Mae has approved to sell loans to it and to service loans on Fannie Mae's behalf.
- Browse Related Terms: Conforming Loan, Fannie Mae-Seller/Servicer, Fannie Mae/Freddie Mac Loan Limit, Federal Home Loan Mortgage Corporation (FHLMC), GSE, Jumbo Loan, Mortgage Banker, Non-Conforming loan
All > Business > Real Estate
All > Business > Real Estate
The main exterior face of a building, sometimes distinguished from the other faces by elaboration of architectural or ornamental details.
- Browse Related Terms: Cast Iron, Entrance recess, Façade, Fenestration, Gutter, Historic windows, Improvement, Individual retirement account (IRA), Master plan, Materials, Pounds per square inch (PSI), Quoin, Residential Awning, restoration, Retractable Awning, Semi-detached, Setback, Shutter Dogs
All > Business > Real Estate > Superfund
EPA's Federal Facilities Restoration and Reuse Office's (FFRRO) overall mission is to facilitate faster, more effective, and less costly cleanup and reuse of Federal facilities. By focusing on teamwork, innovation, and public involvement, FFRRO and its Regional counterparts improve environmental cleanup, while protecting and strengthening the conditions of human health, the environment, and local economies.
- Browse Related Terms: Department of Defense (DOD), Department of Energy (DOE), Department of Transportation (DOT), Environmental Protection Agency (EPA), Federal Facilities Restoration and Reuse Office (FFRRO), Natural Resources Damage (NRD), Occupational Safety and Health Act (OSHA), Office of Enforcement and Compliance Assurance (OECA), Office of Pesticide Programs (OPP), Office of Solid Waste (OSW), Resource Conservation and Recovery Act (RCRA), Safe Drinking Water Act (SDWA)
All > Business > Real Estate
Former name for "Office of Thrift Supervision." See also "Office of Thrift Supervision."
- Browse Related Terms: Bay, Establishment, Federal Home Loan Bank Board, Fraternal organization, Joint tenancy, Nonresidential, Storefront, Trust company
All > Business > Real Estate
An organization that purchases conventional mortgage loans and sells securities based on pools of these loans. Also called "Freddie Mac."
- Browse Related Terms: Conforming Loan, Fannie Mae-Seller/Servicer, Fannie Mae/Freddie Mac Loan Limit, Federal Home Loan Mortgage Corporation (FHLMC), GSE, Jumbo Loan, Mortgage Banker, Non-Conforming loan
All > Business > Real Estate
A quasi-governmental, federally-sponsored organization that acts as a secondary market investor to buy and sell mortgage loans. FHLMC sets many of the guidelines for conventional mortgage loans, as does FNMA.
- Browse Related Terms: Fannie Mae, Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Freddie Mac, Government National Mortgage Association (GNMA or Ginnie Mae), housing affordability index, Loan Servicer, Mortgage pool, Quality Control, Secondary market, Secondary Mortgage Market, Soldiers and Sailors Civil Relief Act, Subordinate
All > Business > Real Estate
An agency, within the U.S. Department of Housing and Urban Development, that administers loan programs, loan guarantee programs, and loan insurance programs designed to make more housing available.
An agency within the U.S. Department of Housing and Urban Development (HUD) that insures mortgages and loans made by private lenders.
An agency within the Department of Housing and Urban Development that sets underwriting standards and insures residential mortgage loans made by private lenders. One of FHA's objectives is to help make affordable mortgages available to homeowners with low or moderate income. FHA loans may be high loan-to-value, and they are limited by loan amount. FHA mortgage insurance requires a fee of 1.5 percent of the loan amount to be paid at closing, as well as an annual fee of 0.5 percent of the loan amount added to each monthly payment.
- Browse Related Terms: 203(b), Federal Housing Administration (FHA), FHA, Insured mortgage, Mortgage Insurance, Mortgage Insurance (MI), Mortgage insurance company, Mortgage Insurance Premium (MIP), PMI, Private mortgage insurance, Private Mortgage Insurance (PMI)
Also listed in:
- All > Business > Finance > Personal Finance
- All > Business > Finance > Personal Finance > Mortgage
All > Business > Real Estate > Superfund
Passed in 1972, the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) regulates the manufacture and use of pesticides and allows EPA to restrict or prohibit use of particularly harmful pesticides.
- Browse Related Terms: Agency for Toxic Substances and Disease Registry's Hazardous Substance Release/Health Effects Database (ATSDR-HazDat), Chemical Emergency Preparedness and Prevention Office (CEPPO), Emergency Planning and Community Right-to-Know Act (EPCRA), Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), Office of Air and Radiation (OAR), Office of Pollution Prevention and Toxics (OPPT), Office of Prevention, Pesticides and Toxic Substances (OPPTS), Office of Science Coordination and Policy (OSCP), Risk Management Plans (RMP), Toxic Release Inventory (TRI), Toxic Substances Control Act (TSCA)
Also listed in:
All > Business > Real Estate
A private corporation that acts as a secondary market investor to buy and sell mortgage loans. FNMA sets many of the guidelines for conventional mortgage loans, as does FHLMC. The major purpose of this organization is to make mortgage money more affordable and more available.
- Browse Related Terms: Fannie Mae, Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Freddie Mac, Government National Mortgage Association (GNMA or Ginnie Mae), housing affordability index, Loan Servicer, Mortgage pool, Quality Control, Secondary market, Secondary Mortgage Market, Soldiers and Sailors Civil Relief Act, Subordinate
All > Business > Real Estate
A type of "savings and loan association." See also "savings and loan association."
- Browse Related Terms: Collateral, Commercial bank, Credit Grantor, creditor, Demand loan, Equity loan, Federal savings bank, HECM (Reverse Mortgage), Line of Credit, Mortgagee, Primary Mortgage Market, Reverse Mortgage (HECM), Truth-In-Lending Act (TILA), Unsecured Loan
All > Business > Real Estate
The maximum form of ownership, with the right to occupy a property and sell it to a buyer at any time. Upon the death of the owner, the property goes to the owner's designated heirs. Also known as fee absolute.
- Browse Related Terms: Change Orders, cloud, Co-Borrower, Cooperative (Co-op) Project, Deed-in-Lieu of Foreclosure, Eminent Domain, fee simple, Foreclosure, Joint Tenancy (with Rights of Survivorship), Liability insurance, Owner's Policy, Pre-Foreclosure sale, tax deed, Title Defect, Title Insurance, Transfer Tax, Warranty deed
All > Business > Real Estate
The arrangement, proportioning and design of windows in a building.
- Browse Related Terms: Cast Iron, Entrance recess, Façade, Fenestration, Gutter, Historic windows, Improvement, Individual retirement account (IRA), Master plan, Materials, Pounds per square inch (PSI), Quoin, Residential Awning, restoration, Retractable Awning, Semi-detached, Setback, Shutter Dogs
Also listed in: