Ginnie Mae

Government national mortgage association (gnma); a government-owned corporation overseen by the u.s. department of housing and urban development, ginnie mae pools fha-insured and va-guaranteed loans to back securities for private investment; as with fannie mae and freddie mac, the investment income provides funding that may then be lent to eligible borrowers by lenders.

Good Faith Estimate

An estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.

Graduated Payment Mortgages

Mortgages that begin with lower monthly payments that get slowly larger over a period of years, eventually reaching a fixed level and remaining there for the life of the loan. graduated payment loans may be good if you expect your annual income to increase.

Grantee

An individual to whom an interest in real property is conveyed.

Grantor

An individual conveying an interest in real property.

Gross Income

Money earned before taxes and other deductions. sometimes it may include income from self-employment, rental property, alimony, child support, public assistance payments, and retirement benefits.

GSE: Government Sponsored Enterprise

abbreviation for government sponsored enterprises

Guaranty Fee

Payment to fanniemae from a lender for the assurance of timely principal and interest payments to mbs (mortgage backed security) security holders.

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