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Find a Business or PersonReal Estate Terms - F
Federal Home Loan Mortgage Corporation (FHLMC) (Fwddie Mac)A federal agency that purchases first mortgages from members of the Federal Reserve System and the Federal Home Loan Bank System. |
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Face ValueThe value stated on the face of notes, mortgages, and so on, without consideration of any discounting. |
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Fair Market ValueThe price a property will bring, given that buyer and seller are fully aware of market conditions and comparable properties. |
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Feasibility SurveyA study of an area before development of a project in order to predict whether the project will succeed. |
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Federal Deposit Insurance Commission (FDIC)The federal corporation that insures depositors against loss up to a specified amount, currently $100,000. The FDIC's Bank Insurance Fund (BIF) covers bank deposits, and its Savings Association Insurance Fund (SAIF) covers deposits in savings and loan associations. |
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Federal Home Loan BanksA system of regional banks that banks, savings and loan associations, insurance companies, and similar institutions may join to borrow money to use in making available home financing. Its purpose is to make a permanent supply of financing available for home loans. |
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Federal Housing Administration (FHA)The federal agency that insures first mortgages on homes (and other projects), enabling lenders to extend more lenient terms to borrowers who qualify. |
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Federal National Mortgage Association (FNMA) (Fannie Mae)A private corporation that purchases first mortgages at discounts. |
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Federal Reserve SystemA government agency, commonly referred to as the Fed, which consists of a 12 branches, and approximately 6,000 member banks. Its primary purpose is to control the supply of money. |
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Fee SimpleOwnership of real property without any limitation, so that it can be sold, left at will, or inherited. |
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