Mortgage Lingo, E - H

Here to Help You

Mortgage Sources

Knowledge You Need

Mortgage Tools

Mortgage Lingo

Select any letter below for more information.

General Warranty Deed - A deed which conveys not only all the grantor's interests in and title to the property to the grantee, but also warrants that if the title is defective or has a "cloud" on it (such as mortgage claims, tax liens, title claims, judgments, or mechanic's liens against it) the grantee may hold the grantor liable.

GNMA (Ginnie Mae) - A federally owned corporation formed to invest in mortgages not suitable for Fannie Mae. Administered by the U.S. HUD, Ginnie Mae invests in relatively high-risk mortgages.

GNMA Mortgaged Backed Securities - Securities guaranteed by GNMA and issued primarily by mortgage bankers. The GNMA security is pass-through in nature, and the banker is protected by the "full faith and credit of the U.S. Government." It is collateralized by FHA and VA mortgages.

Grant - To bestow or confer, with or without compensation, real or personal property, such as land or money by one having control or authority over the property.

Grantee - That party in the deed who is the buyer or recipient.

Grantor - That party in the deed who is the seller or giver.

Gross Income - Total dollar amount of all income resources before deductions for taxes, insurance, etc.