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Mortgage backed security |
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Mortgage backed securityA security, backed by one or more mortgages.Similar MatchesGrowing Equity Mortgage (gem)Growing Equity Mortgage (gem)A fixed rate, graduated payment loan allowing low beginning payments and a shorter term because of higher payments as the loan progress. Based on the theory of increasing income by the buyer and, therefore. ability to make higher future payments. When state law applies, usury laws in some states may not presently allow such loans when less than interest only payments create interest on interest. Guaranteed Mortgage Certificates (GMC)Guaranteed Mortgage Certificates (GMC)First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac. Guarantee mortgageGuarantee mortgageA loan guaranteed by a third party, such as a government institution. Mortgage applicationMortgage applicationForms used to assess whether you meet the lender's underwriting criteria. These criteria are set to ensure that barring any unforeseeable change in circumstances, you will be able to support the mortgage and meet the repayments. Questions relate to such things as income & status, equity, personal details, credit history etc. Purchase money mortgagePurchase money mortgageA mortgage given by a buyer in lieu of cash when the buyer is unable to borrow commercially for the purchase of property. Further Suggestionsadjustable rate mortgagebiweekly mortgage loan Mortgage broker Secondary mortgage market Mortgage Banker Collateralized mortgage obligation (CMO) Self certification mortgage Shared Appreciation Mortgage (SAM) reverse annuity mortgage Government insured mortgage Package mortgage Gnma (government National Mortgage Association) Options Stepped fixed rate mortgage Repayment mortgage Real Estate Mortgage Investment Conduit (REMIC) Council of Mortgage Lenders H Hard Money Mortgage MIG Mortgage Indemnity Guarantee Low start mortgage Assumable mortgage Flexible mortgage mortgage indemnity Non status mortgage Mortgage arrears mortgage agreement in principle |
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