Mortgage terms starting with G

9 terms

  1. Garn-St. Germain Depository Institutions Act Legislation enacted in 1982 that provided the thrift industry more flexibility in managing assets and liabilities.
  2. geocode Geocode refers to the combination of applicable codes for the metropolitan area, state, county and census tract.
  3. Good faith estimate A good faith estimate is a written summary provided by your mortgage lender. It shows the amount you can expect to pay at your real estate closing to…
  4. Good Faith Estimate (GFE) A document which tells borrowers the approximate costs they will pay at or before settlement, based on common practice in the locality.
  5. Government National Mortgage Association (Ginnie Mae) The Government National Mortgage Association, known as Ginnie Mae, guarantees mortgage-backed securities issued by approved private institutions and…
  6. Government-Sponsored Enterprise (GSE) Business organizations chartered and sponsored by the federal government, which include Fannie Mae, Freddie Mac, and the FHLBanks.
  7. Grantor The person conveying real property by a trust deed as security for the performance of an obligation.
  8. Gross Annual Income The income reported is the total gross annual income an institution relied upon in making the credit decision.
  9. Guarantee A pledge to investors that the issuing company will bear the default risk on the collateral pool of loans, thereby ensuring the timely payment of…