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
Lender's written statement and accounting for the remaining balance, date of maturity, and interest rate on a mortgage. The lender is certifying this information to the borrower or any ...
Allocating the price paid to purchase to or more properties based on their appraised values. ...
State court where civil disagreements are decided by the judge or jury. A written record is kept of the deliberations. In some stats, civil and criminal courts are combined. ...
Legal agreement not to perform an activity similar to that performed by another individual or business. This contractual provision may be necessary to keep trade secrets, prevent taking ...
Yearly tax return filed by an individual or couple. It is due to the federal taxing authority on April 15 for the preceding calendar year. The taxpayer reports gross income, adjustments to ...
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