The Arabic word FATWA is simply an opinion handed down by an Islamic scholar about some aspect of Islamic law.
The word fatwa, mean an opinion.
The word fatwa Islamically means a scholarly opinion. A fatwa from a religious scholar would carry a very strong opinion, not the same as your mother's opinion.
For example: If you go to an Islamic scholar and ask him if you can eat the meat of XYZ branded place or not, the Islamic legal opinion/ruling that that scholar would tell you would be considered a Fatwa.
It is indeed a religious ruling that be supposed to be followed in most cases. If the fatwa calls for something against Islamic teaching, the fatwa's should be ignored. In other words, it is important not to interpret the Quran and the Sunnah unless you have knowledge of such things or recognized religious authority. Staying away from the ignorant and following those who are scholars and who gives evidence to support the Fatwa. Memorizing the Quran does not make you a scholar or a sheikh. A fatwa is a suggestion about how Muslims should act and conduct their daily lives. It is not mandatory but a scholarly suggestion.
Few times there are some disagreements or difference of opinions in understanding in religious matters, then Qur’an gives the solution for it. Allah says in Qur’an : O you who have believed, obey Allah and obey the Messenger and those in authority among you. And if you disagree over anything, refer it to Allah and the Messenger, if you should believe in Allah and the Last Day. That is the best [way] and best in result. Qur’an Surah Nisa 4:59
There are many sites on the internet that offer recent fatwas from taking pictures on your phone to what to say at funeral prayers. One site that offers a lot of information is FatwaIslam. com, http://islamqa.info/, alifta.com/Default.aspx?languagename=en, islamweb.net etc.