"G" ordered financial services and borrower term definitions you might have noticed through loan paperwork or observed in this directory.
- GSE: abbreviation for government sponsored enterprises
- A collection of financial services corporations formed by the United States Congress to reduce interest rates for farmers and homeowners. Examples include Fannie Mae and Freddie Mac.
- Ginnie Mae
- Government National Mortgage Association (GNMA); a government-owned corporation overseen by the U.S. Department of Housing and Urban Development, Ginnie Mae pools FHA-insured and VA-guaranteed loans to back securities for private investment; as With Fannie Mae and Freddie Mac, the investment income provides funding that may then be lent to eligible borrowers by lenders.
- Global Debt Facility
- Designed to allow investors all over the world to purchase debt (loans) of U.S. dollar and foreign currency through a variety of clearing systems.
- Good Faith Estimate
- An estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.
- Graduated Payment Mortgages
- Mortgages that begin with lower monthly payments that get slowly larger over a period of years, eventually reaching a fixed level and remaining there for the life of the loan. Graduated payment loans may be good if you expect your annual income to increase.
- An individual to whom an interest in real property is conveyed.
- An individual conveying an interest in real property.
- Gross Income
- Money earned before taxes and other deductions. Sometimes it may include income from self-employment, rental property, alimony, child support, public assistance payments, and retirement benefits.
- Guaranty Fee
- Payment to FannieMae from a lender for the assurance of timely principal and interest payments to MBS (Mortgage Backed Security) security holders.
"Glossary." HUD.gov. U.S. Department of Housing and Urban Development, n.d. Web. .