Fannie Mae - a private company that buys and sells mortgages; a government-sponsored business that is watched over by the federal government.

Federal Housing Administration (FHA) - the part of the U.S. Department of Housing and Urban Development (HUD) that insures HECM loans.

Federally Insured Reverse Mortgage - a reverse mortgage guaranteed by the federal government so you will always get what the loan promises; also, a Home Equity Conversion Mortgage (HECM).

Federal Liens - Federal liens against a property or borrower must be paid before a Reverse Mortgage is closed or paid from the Reverse Mortgage proceeds.

First Mortgage - the primary lien against a property.

Fixed monthly loan advances - payments of the same amount that are made to a borrower each month.