What is the Know Your Options?
What is the Know Your Options?
Know Your Options™ is the company’s newest effort to reach distressed homeowners and is designed to bring the best information and guidance together in one place so that struggling borrowers can focus on finding solutions that work for their particular circumstances.”
What is the FNMA enhancement?
The Fannie Mae Tax-Exempt Bond Credit Enhancement provides credit enhancement for tax-exempt bonds issued to finance the acquisition, new construction, refinancing, or moderate or substantial rehabilitation of multifamily properties.
What is the main purpose of Fannie Mae?
The primary function of Fannie Mae and Freddie Mac is to provide liquidity to the nation’s mortgage finance system.
Does Freddie own my mortgage?
If Freddie Mac owns your mortgage, then your lender must have sold it to Freddie Mac — or sold it to an investor that eventually did.
What is a home liquidation option?
A repayment option that moves, or defers, past-due amounts to the end of your loan term and keeps your monthly principal and interest payment the same. (Note that escrow payment adjustments for taxes and insurance may affect your total monthly payment.)
What is a loan modification and how does it work?
A loan modification is a change to the original terms of your mortgage loan. Unlike a refinance, a loan modification doesn’t pay off your current mortgage and replace it with a new one. Instead, it directly changes the conditions of your loan.
Is a Fannie Mae loan the same as a conventional loan?
What is the difference between a Fannie Mae loan and a conventional loan? They are the same. Conventional loans are the mortgages purchased by the government-sponsored enterprises of Fannie Mae and Freddie Mac.
Is Freddie Mac and Fannie Mae the same?
Though both enterprises are better known by their nicknames, Fannie Mae and Freddie Mac have more official titles: Fannie Mae is the Federal National Mortgage Association (FNMA) and Freddie Mac is the Federal Home Loan Mortgage Corporation (FMCC).
What is the difference between Fannie Mae and FHA?
The difference between a FHA and Fannie Mae loans are that the FHA insured loan is a loan by The US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by a approved lender. The Fannie Mae loan has a higher credit score requirement at 620 to 640 which is higher than the FHA loan.
What are the requirements for a Fannie Mae loan?
Homebuyers must also meet minimum credit requirements to be eligible for Fannie Mae-backed mortgages. For a single-family home that is a primary residence, a FICO score of at least 620 for fixed-rate loans and 640 for adjustable-rate mortgages (ARMs) is required.
Where do I go to know my options?
Know your options so you can get the care you need when you need it. The best place to start is with Health Link at 811 or your family doctor. If you have a health concern or you’re not sure where to go for help, speak to a nurse on this free, round-the-clock, telephone advice and health information service: To contact Health Link 24/7: Dial 811
What should you know about the value of options?
Before venturing into the world of trading options, investors should have a good understanding of the factors determining the value of an option. These include the current stock price, the intrinsic value, time to expiration or the time value, volatility, interest rates, and cash dividends paid. 1
What happens to your options investment on May 21?
What happened to our option investment May 1 May 21 Expiry Date Stock Price $67 $78 $62 Option Price $3.15 $8.25 worthless Contract Value $315 $825 $0 Paper Gain/Loss $0 $510 -$315