Fannie Mae Financial Glossary
What is it? A private corporation that specializes in buying primarily FHA and Va loans. Formerly called the Federal National Mortgage Association (FNMA).Finance Term Definition Added By: Aubrey
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Financial Term PreApproved is A lender extends an offer based on information from credit bureaus or other lenders that indicates a potential borrower meets their lending criteria such as annual income, etc.Financial Term preferred stock is A type of equity or capital representing shares of ownership in a corporation. May or may not receive distributions of corporate income in the form of dividends. Has a higher priority claim to corporate earnings or assets than common stock but lower priority than corporate debt. A corporation may issue more than one class of preferred stock with differing priority status such as first or second preferred. Often preferred stock issues have a defined dividend payment rate as long as there are sufficient corporate earnings to distribute.
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