Tag: mortgage
Federal Credit Union (FCU)
What is 'Federal Credit Union - FCU' A credit union chartered and supervised by the National Credit Union Association (NCUA), a federal...
Fallout Risk
What is 'Fallout Risk' The lending risk that occurs when the terms of a loan are confirmed simultaneously with the terms of...
Federal Financial Institutions Examination Council (FFIEC)
What is the Federal Financial Institutions Examination Council and what do they do
The Federal Financial Institutions Examination Council (FFIEC) is a U.S. government organization...
Farmer Mac – Federal Agricultural Mortgage Corporation – (FAMC)
DefinitionThe Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal...
Federal Home Loan Bank Act
DefinitionThe Federal Home Loan Bank Act, is a United States federal law passed under President Herbert Hoover in order to lower the cost of...
Foreclosure
DefinitionForeclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making...
Federal Home Loan Bank System (FHLB)
What is the Federal Home Loan Bank System (FHLB)?
The Federal Home Loan Bank System is a network of 12 regional banks that provide financial...
Fixed Interest Rate Loan
Definition
A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. This allows...
Walk-Through Test
DefinitionA walk-through test is a procedure under financial audit performed by auditors. Walk-Through Test What is a 'Walk-Through Test' A walk-through test...
Warehouse Bond
A warehouse bond is a type of surety bond that guarantees payment for goods that are stored in a bonded warehouse. The bond is...