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allow people to buy more expensive homes than they normally would be able to by factoring in the money they'll save on transportation costs. Fannie colorado home mortgage northern refinance - Federal National Mortgage Association. Fair Isaac (FICO) - One of the three main credit bureaus. A FICO score of 600 would be colorado home mortgage northern refinance to a "C" in public school grading or a "C-" in private school grading. FHLB Advances - Funding provided by Federal Home Loan Banks. Freddie Mac - Federal Home Loan Mortgage Corporation. Government Sponsored Entity (GSE) - Private organizations with government charters whose function is to provide liquidity for the residential loan market. GSEs purchase loans from lenders and assume risk for the asset, thereby protecting the investors colorado home mortgage northern refinance the MBS. Home Equity Loan (HEL) Homeowners Insurance - Package policy that combines (1) coverage against the insured’s property being destroyed or damaged and colorado home mortgage northern refinance coverage for liability exposure of the insured. Jumbo mortgages - Loans with high risk of default ab initio. "They see something on TV or they contact the lender and they find out, my goodness, I can borrow all this money," says Dr. Patrick McMurry, and economics professor at Missouri Western State University. "It`s kind of like cha-ching, look at all the things we can colorado home mortgage northern refinance but now that`s an asset they`ve paid for." In the USA, the colorado home mortgage northern refinance by which a mortgage is secured by a borrower is called origination. This involves the borrower submitting an application and documentation related to his/her financial history to the underwriter. Many banks now offer "no-doc" or "low-doc" loans in which the borrower