This lending niche caters to those with lower down payments and income, as opposed to conventional loans, which have no government provided mortgage guaranty insurance.
Its purpose is to deter -- to compel respect for the constitutional guaranty in the only effectively available way -- by removing the incentive to disregard it.
The council bowed to the committee and issued a guaranty certificate transferring the unimpeded right to negotiate thereby rendering itself incapable of action.
A guaranty fund system also exists for the life, health and annuity insurance industry, but it operates independently from the property and casualty system.
