FDIC
See Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation (FDIC)
Independent deposit insurance agency created by Congress to maintain stability and public confidence in the nation's banking system.

Federal Reserve
Central bank of the United States and major regulatory agency for many commercial banks.

fee simple
Absolute ownership of real property.

fixed rate
An interest rate that is fixed for the term of the loan.

fixed-rate loan
A loan whose interest rate does not change for the life of the loan. Payments are also fixed.

floor
The minimum rate of interest payable on an adjustable-rate mortgage.

forbearance
Grace period given when a lender postpones foreclosure to give the borrower time to catch up on overdue payments.

foreclosure (or repossession)
Legal process by which the lender forces the sale of a property because the borrower has not met the loan terms.