Definitions F

Fannie Mae (FNMA): Fannie Mae (Federal National Mortgage Association/FNMA): FNMA is one of the major secondary market investors that purchases loans from mortgage companies and other depository institutions. The company is private corporation and its stock is traded on the New York Stock Exchange.
Federal Home Board: The board which oversees the Federal Home Loan Bank systems.
Federal Home Loan Bank: Provides liquidity to supervised financial service companies such as savings and loans and credit unions. The bank system has several districts.
Federal Home Loan Board: The board which charters and forbids discrimination in the sale.
Federal Home Loan Mortgage Corporation (FHLMC/Freddie Mac): A government sponsored agency that is also a publicly traded company on the New York Stock Exchange that purchases mortgage loans from mortgage bankers and financial depository institutions. FHLMC is a major secondary market investor.
Federal Housing Administration: A federal agency which insures first mortgages, enabling lenders to loan a very high percentage of the sale price.
Federal National Mortgage Association: See Fannie Mae.
Federal Reserve Bank: The regulatory agency for many commercial banks and bank holding companies. Sets monetary policy for the country and provides liquidity for supervised financial institutions.
Federal Tax Lien: A lien attached to property for nonpayment of a federal tax.
Federal Tax Return: The U.S. government's method to identify individual and company's annual tax responsibility. The tax returns identify the income and taxes.
Fee Simple: Highest possible degree of ownership of land. The estate allows owners to unrestricted powers to dispose of property, and which can be left by will or inherited.
Fiduciary: A person in a position of trust or responsibility with specific duties to act in the best interest of the client. Real estate brokers and mortgage brokers are fiduciaries.
Financial Depositor Institutions: Banks, savings and loans or credit unions.
First Mortgage: Mortgage holding priority over the claims of subsequent lenders against the same property.
Fixture: Personal property that has become part of the real estate.
Foreclosure: A proceeding in or out of court, to extinguish all rights, title, and interest, of the owner(s) of a property in order to sell the property and satisfy a lien against it.
Freddie Mac: Federal Home Loan Mortgage Corporation. A federal Agency purchasing first mortgages, both conventional and federally insured, from members of the Federal Reserve System, and the Federal Home Loan Bank System.
Full Disclosure: Revealing all the known facts which may affect the decision of a buyer or tenant.


For more information on our products, services or feedback on our Web site. Phone: (808) 534.4300 or (800) 379.1300 · Fax: (808) 534.4352 · Email: contactus@hawaiiusafcu.com		Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government		We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.