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Conforming Loan
In the United States, a conforming loan is a mortgage loan that both meets the underwriting guidelines of Fannie Mae and Freddie Mac (the ''Enterprises'' or GSE) and that does not exceed the conforming loan limit. The most well-known guideline is the size of the loan which, for 2022, was generally limited to $647,200 for one-unit single family homes in the continental US. Other guidelines include borrower's loan-to-value ratio (i.e. the size of down payment), debt-to-income ratio, credit score and history, documentation requirements, etc. In general, any loan that does not meet guidelines is a non-conforming loan. A loan that does not meet guidelines specifically because the loan origination amount exceeds the guideline limits during its acquisition year is known as a jumbo loan. History Starting in 1970, Fannie Mae was authorized by the United States Government to purchase residential mortgage loans. Fannie Mae worked with Freddie Mac to develop uniform mortgage documents a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is an independent federal agency in the United States created as the successor regulatory agency of the Federal Housing Finance Board (FHFB), the Office of Federal Housing Enterprise Oversight (OFHEO), and the U.S. Department of Housing and Urban Development government-sponsored enterprise mission team, absorbing the powers and regulatory authority of both entities, with expanded legal and regulatory authority, including the ability to place government sponsored enterprises (GSEs) into receivership or conservatorship. In its role as regulator, it regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks (FHLBanks, or FHLBank System). It is wholly separate from the Federal Housing Administration, which largely provides mortgage insurance. In September 2019, the Fifth Circuit Court of Appeals, in an ''en banc'' opinion, ruled that the structure of the FHFA violated constitutional separation of powers because its director could ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guam
Guam (; ch, Guåhan ) is an organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. It is the westernmost point and territory of the United States (reckoned from the geographic center of the U.S.); its capital Hagåtña (144°45'00"E) lies further west than Melbourne, Australia (144°57'47"E). In Oceania, Guam is the largest and southernmost of the Mariana Islands and the largest island in Micronesia. Guam's capital is Hagåtña, and the most populous village is Dededo. People born on Guam are American citizens but have no vote in the United States presidential elections while residing on Guam and Guam delegates to the United States House of Representatives have no vote on the floor. Indigenous Guamanians are the Chamoru, historically known as the Chamorro, who are related to the Austronesian peoples of Indonesia, the Philippines, Malaysia, Taiwan, Micronesia, and Polynesia. As of 2022, Guam's population is 168, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Virgin Islands
The United States Virgin Islands,. Also called the ''American Virgin Islands'' and the ''U.S. Virgin Islands''. officially the Virgin Islands of the United States, are a group of Caribbean islands and an unincorporated and organized territory of the United States. The islands are geographically part of the Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles to the east of Puerto Rico and west of the British Virgin Islands. The U.S. Virgin Islands consist of the main islands of Saint Croix, Saint John, and Saint Thomas and 50 other surrounding minor islands and cays. The total land area of the territory is . The territory's capital is Charlotte Amalie on the island of St. Thomas. Previously known as the Danish West Indies of the Kingdom of Denmark–Norway (from 1754 to 1814) and the independent Kingdom of Denmark (from 1814 to 1917), they were sold to the United States by Denmark for $25,000,000 in the 1917 Treaty of the Danish We ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hawaii
Hawaii ( ; haw, Hawaii or ) is a state in the Western United States, located in the Pacific Ocean about from the U.S. mainland. It is the only U.S. state outside North America, the only state that is an archipelago, and the only state geographically located within the tropics. Hawaii comprises nearly the entire Hawaiian archipelago, 137 volcanic islands spanning that are physiographically and ethnologically part of the Polynesian subregion of Oceania. The state's ocean coastline is consequently the fourth-longest in the U.S., at about . The eight main islands, from northwest to southeast, are Niihau, Kauai, Oahu, Molokai, Lānai, Kahoolawe, Maui, and Hawaii—the last of these, after which the state is named, is often called the "Big Island" or "Hawaii Island" to avoid confusion with the state or archipelago. The uninhabited Northwestern Hawaiian Islands make up most of the Papahānaumokuākea Marine National Monument, the United States' largest protected ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alaska
Alaska ( ; russian: Аляска, Alyaska; ale, Alax̂sxax̂; ; ems, Alas'kaaq; Yup'ik: ''Alaskaq''; tli, Anáaski) is a state located in the Western United States on the northwest extremity of North America. A semi-exclave of the U.S., it borders the Canadian province of British Columbia and the Yukon territory to the east; it also shares a maritime border with the Russian Federation's Chukotka Autonomous Okrug to the west, just across the Bering Strait. To the north are the Chukchi and Beaufort Seas of the Arctic Ocean, while the Pacific Ocean lies to the south and southwest. Alaska is by far the largest U.S. state by area, comprising more total area than the next three largest states (Texas, California, and Montana) combined. It represents the seventh-largest subnational division in the world. It is the third-least populous and the most sparsely populated state, but by far the continent's most populous territory located mostly north of the 60th parallel, with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George W
George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he previously served as the 46th governor of Texas from 1995 to 2000. While in his twenties, Bush flew warplanes in the Texas Air National Guard. After graduating from Harvard Business School in 1975, he worked in the oil industry. In 1978, Bush unsuccessfully ran for the House of Representatives. He later co-owned the Texas Rangers of Major League Baseball before he was elected governor of Texas in 1994. As governor, Bush successfully sponsored legislation for tort reform, increased education funding, set higher standards for schools, and reformed the criminal justice system. He also helped make Texas the leading producer of wind powered electricity in the nation. In the 2000 presidential election, Bush defeated Democratic incum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metropolitan Statistical Area
In the United States, a metropolitan statistical area (MSA) is a geographical region with a relatively high population density at its core and close economic ties throughout the area. Such regions are neither legally Incorporated town, incorporated as a city or town would be, nor are they legal administrative divisions like County (United States), counties or separate entities such as U.S. state, states; because of this, the precise definition of any given metropolitan area can vary with the source. The statistical criteria for a standard metropolitan area were defined in 1949 and redefined as metropolitan statistical area in 1983. A typical metropolitan area is centered on a single large city that wields substantial influence over the region (e.g., New York City or Chicago). However, some metropolitan areas contain more than one large city with no single municipality holding a substantially dominant position (e.g., Dallas–Fort Worth metroplex, Hampton Roads, Virginia B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secondary Market
The secondary market, also called the aftermarket and follow on public offering, is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. All sales after the initial sale of the security are sales in the secondary market. Whereas the term primary market refers to the market for new issues of securities, and " market is primary if the proceeds of sales go to the issuer of the securities sold," the secondary market in contrast is the market created by the later trading of such securities. With primary issuances of securities or financial instruments (the primary market), often an underwriter purchases these securities directly from issuers, such as corporations issuing shares in an IPO or private placement. Then the underwriter re-sells the securities to other buyers, in what is r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Liquidity
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price. Liquidity involves the trade-off between the price at which an asset can be sold, and how quickly it can be sold. In a liquid market, the trade-off is mild: one can sell quickly without having to accept a significantly lower price. In a relatively illiquid market, an asset must be discounted in order to sell quickly. Money, or cash, is the most liquid asset because it can be exchanged for goods and services instantly at face value. Overview A liquid asset has some or all of the following features: It can be sold rapidly, with minimal loss of value, anytime within market hours. The essential characteristic of a liquid market is that there are always ready and willing buyers and sellers. It is similar to, but distinct from, market depth, which relates to the trade-off between quantit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Government
The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic located primarily in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where most of the federal government is based), five major self-governing territories and several island possessions. The federal government, sometimes simply referred to as Washington, is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively. The powers and duties of these branches are further defined by acts of Congress, including the creation of executive departments and courts inferior to the Supreme Court. Naming The full name of the republic is "United States of America". No other name appears in the Constitution, and this i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
