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Industry Terms
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This is a collection of commonly used Mortgage terms,
to help you become a more informed borrower. |
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Government National Mortgage Association (GNMA, Ginnie Mae)
A government agency part of HUD that buys VA and FHA loans from lenders, securitizes them and sells Ginnie Mae securities to investors |
Homeowners Association
An association of homeowners in a particular subdivision, planned unit development (PUD), or condominium organized to manage the common area of the development and to enforce the association rules and regulations. |
Loan Origination Fee Or Points
Charge by a lender or broker connected with originating a loan. This is different from discount points which are used to buy down the rate of interest |
