GLOSSARY OF REAL ESTATE TERMS

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)
“Ginnie Mae” is a U.S. Government owned corporation within the Department of Housing and Urban Development that pools (securitizes) federally insured loans (e.g., FHA or VA loans) and then sells the mortgage backed securities (“MBS”) in the secondary market. A Ginnie Mae MBS guarantees timely payment of the principal and interest on the underlying mortgage loans and that guarantee is backed by the full faith and credit of the U.S. Government. Ginnie Mae earns money by charging a premium for the guarantee. Compare Federal Home Loan Mortgage Corporation and Federal National Mortgage Association.

GRANTEE
One who acquires property or an interest in property by deed or other written instrument. The purchaser of a parcel of real property. Compare grantor.

GRANTOR
One who conveys a property or an interest in property by deed or other written instrument. The seller of a parcel of real property. Compare grantee.