September 11, 2009 in Mortgages & Credit
Federal National Mortgage Association (Fannie Mae) is a government-sponsored enterprise (GSE) that was created in 1938 to expand the flow of mortgage money by creating a secondary mortgage market. Fannie Mae is a publicly traded company which operates under a congressional charter that directs Fannie Mae to channel its efforts into increasing the availability and affordability ...
September 11, 2009 in Mortgages & Credit
A mortgage that is equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac’s Federal regulator, The Office of Federal Housing Enterprise Oversight (OFHEO) and meets the funding criteria of Freddie Mac and Fannie Mae. The term “conforming” is most often used when speaking ...
September 11, 2009 in Mortgages & Credit
A conventional mortgage is a housing loan that is generally on a fixed interest rate term (although it can be an adjustable rate which is relatively new) and which generally meets the Fannie Mae (Federal National Mortgage Association) or Freddie Mac criteria and guidelines. They can also be called conforming loans, as they conform to ...
September 11, 2009 in Mortgages & Credit
Assumable Mortgages are a type of financing arrangement in which the outstanding mortgage and its terms can be transferred from the current owner to a buyer. By assuming the previous owner’s remaining debt, the buyer can avoid having to obtain his or her own mortgage. Buyers are typically attracted to homes with existing assumable mortgages ...
September 10, 2009 in Health Insurance
The Consolidated Omnibus Reconciliation Act or COBRA, became law in 1986. COBRA gives individuals the right to choose to temporarily keep the group health insurance benefits that would otherwise be lose after an employee reduces their working hours, quits their job, or loses their job. It also lets family members choose to keep health insurance ...
September 10, 2009 in Health Insurance
Life insurance is a typical insurance policy where by the requirement of a payout is the death of the policy holder, with the money going to the noted beneficiaries, usually the family of the decedent. It is a common form of policy taken out by those with family obligations. Like most insurance policies life insurance ...
September 10, 2009 in Health Insurance
Vision insurance is a form of insurance that provides coverage for the services rendered by eye care professionals such as ophthalmologists and optometrists. There are many vision insurance companies. The typical vision insurance plan provides yearly coverage for eye examinations and partial or full coverage eyeglasses, sunglasses, and contact lenses, with or without copays, depending ...
September 10, 2009 in Health Insurance
Dental insurance is insurance designed to pay a portion of the costs associated with dental care which help make procedures, equipment, and general care more affordable. This type of insurance is similar to many other forms of insurance. There are monthly or yearly premiums to obtain this insurance. The insurance carrier will pay for part ...
September 10, 2009 in Medicare
Access: The ability to obtain healthcare services. Accountable health plan: This term is used to refer to managed competition, including the health plans that are authorized to offer the uniform benefits package. Administrative services only (ASO): Usually associated with self-funded groups, this is when an insurance company, HMO, or third-party administrator provides claims-processing services, but ...
September 10, 2009 in Health Insurance, Medicaid, Medicare
Access: The ability to obtain healthcare services. Accountable health plan: This term is used to refer to managed competition, including the health plans that are authorized to offer the uniform benefits package. Administrative services only (ASO): Usually associated with self-funded groups, this is when an insurance company, HMO, or third-party administrator provides claims-processing services, but ...
