Business / Debt / Growing Equity Mortgage (GEM): A fixed rate, graduated payment loan allowing low beginning payments and a shorter term because of higher payments as the loan progress. Based on the theory of increasing income by the buyer and, therefore ability to make higher future payments.
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Equity Noun Synonyms: fairness, impartiality, even-handedness, justice, fair play, objectivity, disinterest, fair-mindedness, equitableness, open-mindedness, disinterestedness, neutrality, tolerance, judiciousness, right-mindedness, high-mindedness
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Business / Real Estate / Mortgage-Backed Security (MBS): A security guaranteed by pools of mortgages and used to channel funds from securities markets to housing markets. Ginnie Mae has a popular MBS program recognized for its low risk and high yield. The G MORE
Business / Real Estate / Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute. MORE
Business / Real Estate / Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges. MORE
Business / Taxes / Mortgage-Backed Security: Mortgage-backed securities are created when the sponsor buys up mortgages from lenders, pools them, and packages them for sale to the public, a process known as securitization. The securities are avai MORE