A loan guarantor is someone who promises to repay a loan if the borrower is unable to or fails to make the loan payments. They act as a backup or a safety net for the lender in case the borrower can't pay back the loan. Full definition
The largest private student loan guarantor in the country — The Education Resources Institute, Inc. (TERI), a nonprofit organization — just filed for Chapter 11 Bankruptcy. (nomorecreditcards.com)
Until 2008 these loan guarantees were handled primarily by The Education Resources Institute, Inc. (TERI), a nonprofit organization that touted itself as the largest private student loan guarantor in the county. (consumerhelpcentral.com)
A jumbo loan applies to mortgage loans that exceed the limit — currently $ 417,000 for a one - unit property — to be backed by the government - sponsored loan guarantors Fannie Mae and Freddie Mac. (badcredit.org)