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Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
An FNMA loan, aka a conforming loan or Fannie Mae-backed mortgage, is a loan or mortgage that has been sold to the Federal National Mortgage Association (FNMA, or Fannie Mae) — or one that meets ...
Today, Ginnie Mae securities are the only mortgage-backed securities that are backed by the "full faith and credit" guaranty of the United States government, although some have argued that Fannie Mae and Freddie Mac securities are de facto or "effective" beneficiaries of this guarantee after the US government rescued them from insolvency in ...
A simple example of not at arm's length is the sale of real property from parents to children. The parents might wish to sell the property to their children at a price below market value, but such a transaction might later be classified by a court as a gift rather than a bona fide sale, which could have tax and other legal consequences.
Fannie Mae and Freddie Mac buy loans from lenders and repackage them into mortgage-backed securities. This benefits the mortgage market in a couple of ways. First, it lowers the risk of default ...
The transactional net margin method (TNMM) in transfer pricing compares the net profit margin of a taxpayer arising from a non-arm's length transaction with the net profit margins realized by arm's length parties from similar transactions; and examines the net profit margin relative to an appropriate base such as costs, sales or assets. [1] [2]
The case involved a homeowner (Henrietta Eaton) who lost her house in Massachusetts via a foreclosure sale after defaulting on her mortgage.Eaton then filed a suit against Fannie Mae in Massachusetts Superior Court alleging that the record holder of the mortgage did not also hold the promissory note at the time of foreclosure.
Fannie Mae and Freddie Mac today are privately owned - but, due to a government bailout during the 2008 housing crisis, are under control of the Federal Housing Finance Agency.
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