Yes! In lending, it's called "loan guarantor".

A person, who buys a house and applies for a home loan, does not qualify because of her credit history/income. Another person can be a loan guarantor. Obviously, this loan guarantor should have the financial abilities for the loan. For example, In December 2009, my parents, who bought a $450,000 house in Brooklyn New York, did not have enough incomes and financial sources for a loan. So, I was the sole loan guarantor for the house; however, my name is not on the deed title.