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.

---

Is this correct? or