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Today's Terms
Ginnie Mae
Definition:
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
HUD1 Statement
Definition:
Also known as the "settlement sheet," it itemizes all closing costs; must be given to the borrower at or before closing.
30-Day Notice
Definition:
This is a notice that may be given to a person who will be required to move a residence, business or personal property as a result of your agency's project.
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