Affordable housing refers to various public- and private-sector initiatives aimed at helping low- and moderate-income individuals and families purchase homes. These programs often feature lower down payments, eased loan-qualifying rules, and below-market interest rates.
Barclay's Mortgage Backed Securities Index is a comprehensive benchmark published by Barclay's Capital that tracks the performance of mortgage-backed securities issued by GNMA, Fannie Mae, and Freddie Mac, and is a component of the broader U.S. Aggregate Bond Index.
Collateral Underwriter® (CU™) is a proprietary appraisal risk assessment application developed by Fannie Mae to enhance appraisal quality. CU™ provides automated risk assessment and supports proactive management of appraisal quality.
Fannie Mae (FNMA) is a government-sponsored enterprise (GSE) that backs and increases liquidity in the United States residential mortgage market by buying and guaranteeing mortgage loans.
The Federal Housing Finance Agency (FHFA) is a U.S. government agency established in 2008 under the Housing and Economic Recovery Act to replace the Federal Housing Finance Board and oversee the Federal Home Loan Bank System, which includes housing-related Government-Sponsored Enterprises (GSEs) such as Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
Commonly known as Fannie Mae, FNMA is a government-sponsored enterprise that expands the secondary mortgage market by securitizing mortgage loans, thus providing lenders with liquidity and facilitating homeownership in the United States.
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a government-sponsored enterprise (GSE) that buys and sells existing residential mortgages, facilitating liquidity within the mortgage market and enabling more Americans to achieve homeownership.
Government-Sponsored Enterprises (GSEs) are financial services corporations created by the United States Congress to enhance the flow of credit to specific sectors of the economy, particularly the housing sector.
The Homeowners Affordability and Stability Plan (HASP), announced by the U.S. government on February 18, 2009, aims to assist up to 9 million homeowners in avoiding foreclosure through cost-sharing and incentives, funded largely by the Housing and Economic Recovery Act of 2008.
The Housing and Economic Recovery Act of 2008 (HERA) was significant legislation enacted to alleviate the subprime mortgage crisis by reforming housing-related Government-Sponsored Enterprises (GSEs) like Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Additionally, it enhanced federal oversight and offered various provisions to support homeowners and stabilize the housing market.
A Jumbo Mortgage is a type of home loan that exceeds the conforming loan limit set by governmental bodies like Freddie Mac and Fannie Mae. These loans are often used for purchasing luxury homes or properties in highly competitive markets.
Loan Origination is the comprehensive process of creating a new loan, which spans from the initial marketing efforts to the actual closing of the loan agreement. This critical phase in lending encompasses several steps to ensure that both the borrower and lender align with the terms.
The Office of Federal Housing Enterprise Oversight (OFHEO) was an independent entity within the Department of Housing and Urban Development (HUD) responsible for ensuring the financial safety and soundness of Fannie Mae and Freddie Mac until it was replaced by the Federal Housing Finance Agency (FHFA) in 2008.
