conforming mortgage

A residential mortgage loan that meets all FNMA or FHLMC standards. Mortgages may conform to agency requirements regardless of whether they are sold or retained by the originator. Even though a conforming mortgage may not be sold to FNMA or FHLMC, its amount, repayment terms, and documentation meet the standards of those agencies, and the loan may be sold to them at any time during its life. American Banker Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • Non-conforming mortgage — A non conforming mortgage is a term in the United States for a residential mortgage that does not conform to the loan purchasing guidelines set by the Federal National Mortgage Association /Federal Home Loan Mortgage Corporation (Fannie Mae and… …   Wikipedia

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

  • Mortgage industry of the United States — Historical U.S. Prime Rates The Mortgage industry of the United States is a major financial sector. The federal government created several programs, or government sponsored entities, to foster mortgage lending, construction and encourage home… …   Wikipedia

  • Conforming Loan Limit — The limit on the size of a mortgage which Fannie Mae and Freddie Mac will purchase and/or guarantee. The conforming loan limit is set annually by Fannie Mae’s and Freddie Mac’s federal regulator, The Office of Federal Housing… …   Investment dictionary

  • conforming loan — A mortgage loan small enough to be bought by Fannie Mae or guaranteed by the Federal Housing Administration. The dollar limit on conforming loans is adjusted periodically and is higher in areas with a high cost of living. Compare: jumbo loan… …   Law dictionary

  • conforming loans — mortgage loans that meet the qualifications of Freddie Mac or Fannie Mae, which are bought from lenders and issued as pass through securities. Bloomberg Financial Dictionary …   Financial and business terms

  • Conforming loan — In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines.[1] In general, any loan which does not meet guidelines is a non conforming loan. A loan which does not meet guidelines specifically because the loan… …   Wikipedia

  • Mortgage-backed security — Securities Securities Bond Stock Investment fund Derivative Structured finance Agency security …   Wikipedia

  • Conforming Loan — 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… …   Investment dictionary

  • Prime Conforming — A sector of mortgage lending made up of loans to borrowers who are considered to be of a high credit quality, and where the dollar amount of the mortgage is equal to or less than the conforming loan limits set by the Office of Federal Housing… …   Investment dictionary

Share the article and excerpts

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

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.