Government National Mortgage Association (GNMA)
A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mortgages.
Popular Mortgage Terms
A contract provision that adjusts the payment on an ARM periodically to make it fully amortizing. ...
A lender who offers mortgage loans directly to the public. ...
A mortgage lender that sells all the loans it originates in the secondary market. ...
The provision of the U.S. tax code that allows homeowners to deduct mortgage interest payments from income before computing taxes. Points and origination fees are also deductible, but not ...
An option attached to a mortgage, which allows the borrower to pay only the interest for some period. A mortgage is 'interest only' if the monthly mortgage payment does not include any ...
Equations used to derive common measures used in the mortgage market, such as monthly payment, balance, and APR. ...
The portion of the monthly payment that is used to reduce the loan balance. ...
A mortgage that can be moved from one property to another. Ordinarily, you repay your mortgage when you sell your house and take out a new mortgage on the new home you purchase. With a ...
An agreement between a mortgage borrower in distress and the lender that allows the borrower to sell the house and remit the proceeds to the lender. A short sale is an alternative to ...
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