FACE AMOUNT (LIFE INSURANCE) >> The amount the surviving party will receive in the event of death.

FAIR HOUSING ACT ("FHA") >> A Federal act that prohibits discrimination in any aspect related to the sale, rental or financing of dwellings on the basis of race, color, religion, national origin, sex, handicap or familial status.

FANNIE MAE >> The nation?s largest mortgage investor created in 1968 by an amendment to Title III of the National Housing Act. This stockholder-owner corporation, a portion of whose board of directors is appointed by the President of the United States, supports the secondary market in mortgages on residential property.

FEDERAL TAX LIEN >> A lien attaching to a property for nonpayment of a Federal tax. A Federal tax lien differs from other liens in that it?s not automatically eliminated by a senior lien holder foreclosing on a mortgage or trust deed recorded before the tax lien.

FEE SIMPLE ESTATE >> An estate under which the owner is entitled to unrestricted powers to dispose of the property, and under which the property can be left by will or inherited. Commonly, a synonym for ownership.

FICO >> The name given to a numerical score assigned by credit bureaus to measure a borrower?s credit characteristics.

FINAL DISPOSITION >> The ?end? of the loan application process, which may happen via denial, withdrawal, incompleteness or funding.