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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Also known as the Government National Mortgage Association. A government owned corporation within the Department of Housing and Urban Development that has its headquarters in Washington D.C.

This document estimates what the closing costs will be on a loan but is by no means a final accounting. The HUD-1 Settlement Statement is a final version of what the costs are in a loan. The good faith...

Also known as "Ginnie Mae", provides sources of funds for residential mortgages, and is insured or guaranteed by FHA or VA. GNM is a government owned corporation within the Department of Housing and Urban Development that...

A mortgage where the payments start low and rise up over time. The negative amortization is added to the balance of the loan. A buydown mortgage is somewhat similar to a Graduated Payment Mortgage, except for...

A document used in certain states and jurisdictions for the sale or other transfer of real property from one individual or entity to another.  Each party transferring an ownership interest in the property is considered a "grantor".

A grantor is the person who grants title to a property to another person, or who grants special rights by using a power of attorney document.

In the context of loan signing, the total amount the borrower earns per month, before any expenses are deducted. This figure can be used to determine maximum loan amounts and spousal support amounts.