 |
Tandem Plan
Definition
|
|
| a Mortgage subsidy program offered from time to time by the united states congress. the government national Mortgage association (gnma) purchases certain Mortgages at below market interest rates, granting borrowers low-interest loans. gmna sells the loans on the secondary market at a discount, the discount being the amount of the subsidy. these programs are offered "in tandem" with local Mortgage lenders. (also see: gnma, secondary Mortgage market)
next word in word list.
| | Avg. Rating : Not yet rated, be the first to provide a rating for this definition. |
|
 |
 
 |
Browse 
