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| Resources |
Check out our Business
E-Store. The
place that you can buy or sell business related items or
services for a small ad fee.
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FACSIMILE ('FAX')
An exact copy.
FACTOR MARKET
A resource pool representing the four major elements (factors) of production
that are
bought and sold.
FANNIE MAE
A private institution in the secondary mortgage market that buys and sells
mortgages.
FARM AREA
A selected and limited geographical district to which a salesperson devotes
special
attention and study; to farm an area or neighborhood.
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
A federal agency that insures deposits of member banks and savings associations.
FEDERAL HOUSING ADMINISTRATION (FHA)
Insures mortgage loans made by FHA standards in order to make mortgages more
desirable investments for lenders.
FEDERAL HOUSING FINANCE BOARD (FHFB)
Supervises regional federal home loan banks and oversees their mortgage lending.
FEDERAL RESERVE SYSTEM (THE FED)
A central banking authority that influences the cost, availability, and supply
of money.
FEDERAL TRADE COMMISSION (FTC)
A federal agency that investigates and eliminates unfair and deceptive trade
practices.
FEE SIMPLE ESTATE (FEE, FEE SIMPLE ABSOLUTE)
The most comprehensive and complete interest one can hold in real property;
freehold
estate.
FICTITIOUS NAME
(SEE TRADE NAME.)
Any adopted or fictitious name used to designate a business concern.
FIDUCIARY
A person in a position of trust and confidence that creates a moral and legal
obligation
when extended by one person and accepted by another.
FINAL ORDER
A decision rendered by FREC.
FIND A PURCHASER
A provision in a listing contract requiring a broker to produce a ready, ,
willing, and able
buyer or offer on the terms specified.
FIXTURE
An object that was once considered to be personal property because of attachment
to, or
use in an improvement to real property.
FOLLOW UP
What a salesperson does after a sale to maintain customer contact and goodwill.
FORECLOSURE
A court process to transfer title to real property used as security for debt as
a means of
paying off the debt by involuntary sale of the property.
FORMAL CONTRACT
Any agreement that contains all the essentials of a contract, including that it
is in writing
and under seal; a contract dependent on a particular form.
FORMAL HEARING
(SEE HEARING.)
A session in which testimony and arguments are presented, especially before an
official.
FRAUD
The intent to misrepresent a material fact or to deceive to gain an unfair
advantage or to
harm another person.
FREDDIE MAC
Formerly called the Federal Home Loan Mortgage Corporation (FHLMC). A secondary
mortgage market institution that buys and sells conventional, FHA, and VA loans.
FREE and CLEAR
Title to real property with no set termination date that can be measured by the
lifetime
of an individual or can be inherited by heirs.
FREEHOLD ESTATE
A tenancy in real property with no set termination date that can be measured by
the
lifetime of an individual or can be inherited by heirs.
FURTHER ASSURANCE
A provision in a deed containing a covenant or warranty to perform any further
acts the
grantee (buyer) might require to perfect title to the property. |
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