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FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA, OR FANNIE MAE) This agency buys loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. ZONING ORDINANCES (OR ZONING REGULATIONS) Local law establishing building codes and usage regulations for properties in a specified area. CONVEYANCE The document used to effect a transfer, such as a deed, or mortgage. TERM The period of time between the beginning loan date on the legal documents and the date the entire balance of the loan is due. HUD A federal cabinet department officially known as the Department of Housing and Urban Development. |
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Virginia Beach Real Estate Agent, Realtor In Va Beach www.virginiabeachva-re.com Virginia Beach Virginia Homes |
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