GinnieMae (aka GNMA) - Same as FannieMae and FreddieMac, however they only deal in FHA and VA loans. 

Homeowner's Association - An entity, usually a corporation, that is set up by the developer of a condominium project or PUD project that all of the owners of the individual units belong to and have controlling interest of. 

Impound Account - A fund set up by the lender or servicer at time of funding to pay for ongoing expenses (taxes, insurance and PMI).

 
Jumbo Loan - Loan that exceeds the loan amount limits set be FannieMae and FreddieMac. 

 
Loan to Value Ratio - The ratio of the appraised value (or sales price which ever is lower) versus the total loan amount. 

Lock In - The specified period of time that the interest rate is held at while the loan is processed and funded. 

Mortgage Insurance Premium (MIP) - Payment made to third party (other than the lender) to insure lender against losses due to default. 

Mortgagee - Person who obtains a mortgage. 

Mortgagor - Person or institution who gives a mortgage. 

Note - Instrument (document) which spells out the terms of the loan. 

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