Guarantee
Guarantee means an obligation of the United States Government guaranteeing payment of the outstanding principal loan amount, in whole or in part, plus interest thereon, on a debt obligation of the Borrower to a Financial Institution upon failure of the Borrower to repay the debt.
Source
24 CFR § 573.2
Scoping language
The following definitions are only applicable to loan guarantees under this part, and are not criminal definitions.