Va Mortgage - Law Dictionary Search Results
Home Dictionary Name: va mortgageva mortgage
va mortgage a mortgage guaranteed by the Department of Veterans Affairs (VA). Source: U.S. Department of Housing and Urban Development ...
private mortgage insurance (pmi)
private mortgage insurance (pmi) insurance purchased by a buyer to protect the lender in the event of default. The cost of mortgage insurance is usually added to the monthly payment. Mortgage insurance is generally maintained until over 20 Percent of the outstanding amount of the loan is paid or for a set period of time, seven years is normal. Mortgage insurance may be available through a government agency, such as the Federal Housing Administration (FHA) or the Veterans Administration (VA), or through private mortgage insurance companies (PMI). Source: U.S. Department of Housing and Urban Development ...
va (department of veterans affairs)
va (department of veterans affairs) a federal agency, which guarantees loans made to veterans; similar to mortgage insurance, a loan guarantee protects lenders against loss that may result from a borrower default. Source: U.S. Department of Housing and Urban Development ...
ginnie mae
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. Source: U.S. Department of Housing and Urban Development ...
judgment
judgment also judge·ment [jəj-mənt] n 1 a : a formal decision or determination on a matter or case by a court ;esp : final judgment in this entry compare dictum, disposition, finding, holding, opinion, ruling, verdict NOTE: Under Rule 54 of the Federal Rules of Civil Procedure judgment encompasses a decree and any order from which an appeal lies. cog·no·vit judgment [kÄ g-nō-vit-] : an acknowledgment by a debtor of the existence of a debt with agreement that an adverse judgment may be entered without notice or a hearing : confession of judgment consent judgment : a judgment approved and entered by a court by consent of the parties upon agreement or stipulation : consent decree at decree declaratory judgment : a judgment declaring a right or establishing the legal status or interpretation of a law or instrument [seeking a declaratory judgment that the regulation is unconstitutional] compare damage, injunction specific performance at per...
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