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RECORDING FEE Money paid to an agent for entering the sale of a property into the public records. IMPUTED INTEREST Interest implied by the federal tax law. HOUSING AND URBAN DEVELOPMENT See HUD. DISCRIMINATION The act of making a distinction against or in favor of a person on the basis of the group or class to which the person belongs; the failure to treat people equally. FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC, OR FREDDIE MAC) This agency buys loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. FUNCTIONAL OBSOLESCENCE A loss in value of an improvement due to functional inadequacies, often caused by age or poor design. |
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