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C D E F G H I J K L M N O P Q R S T U V W X Y Z
G
- GEM
See Growing-Equity Mortgage.
- General
warranty deed
A deed which conveys not only all the grantor's interests in and title to the property to
the grantee, but also warrants that if the title is defective or has a "cloud"
on it (such as mortgage claims, tax liens, title claims, judgments, or mechanic's liens
against it) the grantee may hold the grantor liable.
- Ginnie Mae
See Government National Mortgage
Association.
- Global
debt facility
A debt issuance facility through which U.S. dollar and foreign currency debt securities
may be offered to investors worldwide with the feature of clearing and settlement through
a variety of clearing systems.
- Government National Mortgage
Association (GNMA), also called "Ginnie Mae"
Provides sources of funds for residential mortgages, insured or guaranteed by FHA or VA.
- Graduated
Payment Mortgage (GPM)
A type of flexible-payment mortgage where the payments increase for a specified period of
time and then level off. This type of mortgage has negative amortization built into it.
- Grantee
That party in the deed who is the buyer or recipient.
- Grantor
That party in the deed who is the seller or giver.
- Gross
monthly income
The total amount the borrower(s) earns each month, before any expenses are deducted.
- Growing-Equity
Mortgage (GEM)
A fixed-rate mortgage that provides scheduled payment increases over an established period
of time. The increased amount of the monthly payment is applied directly toward reducing
the remaining balance of the mortgage.
- Guarantee
mortgage
A mortgage that is guaranteed by a third party.
- Guaranty
A promise by one party to pay a debt or perform an obligation contracted by another if the
original party fails to pay or perform according to a contract.
- Guaranty
fee
Compensation paid by a lender to Fannie Mae for the guarantee of timely payments of
principal and interest to MBS security holders.
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C D E F G H I J K L M N O P Q R S T U V W X Y Z
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