Government National Mortgage Association (GNMA)
Definition of "Government National Mortgage Association (GNMA)"
Is a wholly owned government corporation administered by the Department of Housing and Urban Development. It does not by mortgages; it issues pass-through securities in which interest and principal received on a pool of federally insured mortgage loans is paid to the investor. GNMA guarantees the timely payment of principal and interest in the mortgages.
Popular Real Estate Terms
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Individual or business transferring a right or benefit to another person or business. ...
Land surveying measurement that is 16.5 feet in length, or 5 1/2 yards. A perch is also called a rod or a pole. Today the term perch is seldom used. It is found in old deeds, surveys, and ...
Mortgage clause causing the mortgagor to pledge additional properties, mortgaged or not, as collateral to the present mortgage. Failure to pay any of the other mortgages causes a ...
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Condensed appraisal report covering the major items. ...
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