fhfaoig.gov

Website:https://www.fhfaoig.gov/
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Definitions (49)

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alt-a mortgages


A classification of mortgages in which the risk profile falls between prime and subprime. Alt-A mortgages are generally considered higher risk than prime due to factors that may include higher loan-to-value and debt-to-income ratios or limited documentation of the borrower’s income.
Source: fhfaoig.gov

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american recovery and reinvestment act of 2009


Enacted in 2009, this Act authorized a series of measures intended to create jobs and promote investment and consumer spending.
Source: fhfaoig.gov

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balloon payment


A payment the borrower must make to the lender at the mortgage term’s end. This final payment is comparatively much larger than the payments that preceded it.
Source: fhfaoig.gov

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capitalization


In the context of bank supervision, capitalization refers to the funds a bank holds as a buffer against unexpected losses. It includes shareholders’ equity, loss reserves, and retained earnings. Bank capitalization plays a critical role in the safety and soundness of individual banks and the banking system. In most cases, federal regulators set r [..]
Source: fhfaoig.gov

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collateral


Assets used as security for a loan that can be seized by the lender if the borrower fails to repay the loan.
Source: fhfaoig.gov

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conservatorship


Conservatorship is a legal procedure for the management of financial institutions for an interim period during which the institution’s conservator assumes responsibility for operating the institution and conserving its assets. Under the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (“FHFA”) placed Fannie Mae an [..]
Source: fhfaoig.gov

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conventional conforming mortgage loans


Conventional mortgage loans are those mortgages that are not insured or guaranteed by the Federal Housing Administration, the U.S. Department of Veterans Affairs, or the U.S. Department of Agriculture and meet the Enterprises’ underwriting standards. Conforming mortgage loans have original balances below a specific threshold, set by law and publi [..]
Source: fhfaoig.gov

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debarment


Disqualification of a firm or individual from contracting with the government or participating in government non-procurement transactions for a specific period of time. The grounds for debarment may be either statutory or administrative.
Source: fhfaoig.gov

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default


Default is failure to comply with the terms of an obligation to such an extent that a judgment has been rendered in favor of a failed institution or, in the case of a secured obligation, when the property on which such obligation is secured is foreclosed.
Source: fhfaoig.gov

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dodd-frank wall street reform and consumer protection act of 2010


Legislation intended to promote the financial stability of the United States by improving accountability and transparency in the financial system, end “too big to fail,” protect the American taxpayer by ending bailouts, and protect consumers from abusive financial services practices.
Source: fhfaoig.gov


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