Nonconforming Mortgage

Nonconforming Mortgage
A mortgage that does not meet the guidelines of Government Sponsored Enterprises (GSE) such as Fannie Mae and Freddie Mac, and therefore cannot be sold to Fannie Mae or Freddie Mac. GSE guidelines consist of a maximum loan amount, suitable properties, down payment requirements and credit requirements, among other things.

The percentage of annual mortgage originations that are conforming and nonconforming mortgages varies from year to year as market conditions change. Conforming mortgages are generally more traditional mortgages such as 30-year fixed rate mortgages. Negative amortization mortgages, for example, are nonconforming mortgages.


Investment dictionary. . 2012.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …   Wikipedia

  • Debt-to-income ratio — A debt to income ratio (often abbreviated DTI) is the percentage of a consumer s monthly gross income that goes toward paying debts. (Speaking precisely, DTIs often cover more than just debts; they can include certain taxes, fees, and insurance… …   Wikipedia

  • NovaStar Financial — NovaStar Financial, Inc. Type Public (OTC Markets Group: NOVS) Industry Real E …   Wikipedia

  • NetBank — This article is about the United States bank with the name NetBank. For the online service of Commonwealth Bank, see Commonwealth Bank. NetBank, Inc. Industry Finance Fate Closed by the Office of Thrift Supervision. Most of the deposits acquired… …   Wikipedia

  • EuroBancshares — Infobox Company company name = EuroBancshares, Inc. company company type = Public (nasdaq2|EUBK) foundation = San Juan, Puerto Rico; December 4, 1979 location = San Juan, Puerto Rico key people = Rafael Arillaga Torréns, Jr, Chairman, President… …   Wikipedia

  • Spring Street Financial District — Infobox nrhp | name =Spring Street Financial District nrhp type = hd caption = Spring Street looking north from Hotel Hayward location= 354–704 S. Spring St., Los Angeles, California lat degrees = 34 lat minutes = 2 lat seconds = 48 lat direction …   Wikipedia

  • Amortization — or amortisation is the process of decreasing, or accounting for, an amount over a period of time. The word comes from Middle English amortisen to kill, alienate in mortmain, from Anglo French amorteser , alteration of amortir , from Vulgar Latin… …   Wikipedia

  • china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material …   Universalium

  • China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast …   Universalium

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”