ESCROW ACCOUNT An account held by the lending institution to which the borrower pays monthly installments for property taxes, insurance and special assessments, and from which the lender disburses these sums as they become due.
Lending Institution - Any institution, including a commercial bank, savings and loan association, commercial finance company, or other lender qualified to participate with SBA in the making of loans.
A lender or lending institution that offers financing and loans to a borrower, for the purpose of acquiring a commodity.
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Frequently the lending institution will ask for details of the reason you require the loan. Although the purpose of the loan may have little impact on their decision to grant the money, it can have some influence on the maximum term of the loan.
Wall Street and lending institutions were eager to oblige. So-called ninja loans-the lowest quality of sub-prime loans-were extended to people who had no income, no job, no assets. The housing bubble was underway.
commitment that a lending institution makes to offer a loan at a stipulated interest rate at a predetermined future time, usually limited to 90 days.
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Creditor: the lending institution providing a loan or credit.
Creditworthiness: the way a lender measures the ability of a person to qualify and repay a loan.
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A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it.
A group composed of lending institutions--banks, credit unions, savings and loan associations, finance companies, retail merchants, and credit card companies--and their debtors.
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Collateral protection insurance or CPI, insures property (primarily vehicles) held as collateral for loans made by lending institutions.
Many small business owners who approach banks to secure financing for a new corporation are asked to sign a personal guarantee that assures the lending institution that they will pay back the loan if the corporation is unable to do so.
These small cooperative lending institutions have a "common bond requirement" for members that is, for instance, membership is granted to union members or employees of a particular firm, and there are not stockholders.
Securitization The transfer of loans (ASSETS) of a homogeneous nature, from a lending institution to investors through an intermediary, by packaging them in the form of securities which are usually termed "PASS-THROUGH SECURITIES".
The steps taken by a lending institution up to the time a loan is made and placed on its books, including solicitation and processing of app...(Read more)
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Review any appraisals used by the farmer and lending institution in discharging the obligation;
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This is also done for one dwelling home buyers at some lending institutions by using their personal debts, along with their income.
Affinity card: A type of credit card issued jointly by a lending institution and a non-financial organization, such as a retail store or not-for-profit group.
An international lending institution that aims to reduce poverty and improve people's lives by strengthening economies and promoting sustainable development.
Original fees, which are separate from the application fee, are monies charged to defer administrative costs incurred by the lending institution. This amount is deducted from the loan before it is disbursed.
Debt- This is an amount of money that a borrower owes to an individual, investor, or lending institution. In the finance world, the word “debt' is often associated with interest payments.
A real estate mortgage agreement between a lending institution and a borrower in which the interest rate is not fixed but changes over the life of the loan at predetermined intervals.
Issuing agencies buy mortgages from lending institutions and repackage them as securities which they sell to investors. They are generally issued in denominations of $25,000 or above.
A card offered by two organizations, one a lending institution, the other a non-financial group. Schools, nonprofit groups, pro wrestlers, popular singers and airlines are among those featured on affinity cards.
linked to broadened ownership (Tier 1), would be generated "interest-free" through the discount mechanism of the central bank, at a service charge based on the cost to the central bank of creating new money and regulating the lending institutions (0.
Bank loan modification refers to an agreement reached by the bank or lending institution and the homeowner to change the terms of agreement on the mortgage so that the home owner can find it easier to make payments.
Even so, because of these and other laws, which for many years stopped banks from operating across state borders, the United States has far more lending institutions than other countries.
Lending institutions - non-governmental organisations, local co-operatives and banks - found lending to these people was good, repeat business.
An instant extension of credit from a lending institution.
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For example, if you have an overdraft account, your bank will cover checks which would otherwise bounce. You pay interest on the outstanding balance of the loan much like any loan.
The requirements laid down by regulators for lending institutions to comply with a specified capital requirement (i.e. reserve position), determined by looking at the risk profile of the institutions assets.
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If the market went down 25 percent, then the original investor is gone but the lending institution (bank or brokergage firm) is on-the-hook for $1.5 billion. Effectively, this is what has been recently occurring in the financial industry.
A mortgage in which the lending institution provides payments to a homeowner for a fixed number of years.
Fixed trust
A unit investment trust consisting of securities that were agreed upon at the time of investment and do not change.
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Avalize - The act of having a third party (usually a bank or lending institution) guarantee the obligations of a buyer to a seller per the terms of a contract such as a promissory note or purchase agreement.
Terms and conditions for use of a credit account and repayment of debt between the borrower and the lending institution. A copy is provided when an account is opened.
Government National Mortgage Association (Ginnie Mae) A government-owned agency that buys mortgages from lending institutions and pools them to form securities, which it then sells to investors.
A written notice from the bank or other lending institution saying it will advance mortgage funds in a specified amount to enable a buyer to purchase a house.
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AFFINITY CARD - A card offered by two organizations, one a lending institution, the other a non-financi...
AFFIRMATION - Instead of a sworn oath, a solemn and formal declaration regarding the truth of a stateme...
The homeowner has to select their title insurance company following the lending institution's advice or their own knowledge and common sense. It is forbidden by the law that a lender demands signing with specific title insurance companies.
The alleged practice of certain lending institutions of not making mortgage, home improvement, and small business loans in certain neighborhoods-usually areas that are deteriorating or considered by the lender to be poor investments.
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Provision of instant credit by a lending institution.
Overfunded pension plan
A pension plan that has a positive surplus (i.e., assets exceed liabilities).
Loan Officer
The lender, loan representative or other who solicits a loan. They are the representative of the lending institution and represent the borrower to the lending institution.
You don't need credit cards to get credit. You don't need credit to get a loan. Most lending institutions will take the fact that you DON'T have any credit history as a good sign and qualify you for the same loans you'd get with fantastic credit.
The wraparound mortgage is held by the lending institution as security for the total mortgage debt. The borrower makes payments on both loans to the wraparound lender, which in turn makes payments on the original senior mortgage.
Should you decide to repay a loan early, the lending institution will use the rule of 78 to determine how much interest you do not have to pay.
agreement to lend money for property a financial lending arrangement enabling somebody to borrow money from a bank or other lending institution in order to buy property or land.
A debt consolidation loan is a type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off all his previous debts.
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The amount available to be borrowed against your security property based on a formula calculated by the lending institution
Earnings Claims
Assertions of specific acquired sales levels or profitability levels declared by franchise companies.
Loan-to-Value Ratio. The percentage a lending institution will loan to the appraised value of a property. For example, if the property is appraised for $100,000 and a bank will loan only $70,000, the loan-to-value ratio is 70%.
Fixed-term reverse mortgage
A mortgage in which the lending institution provides payments to a homeowner for a fixed number of years.
Establishing Business Credit
Building business credit lines with suppliers and lending institutions ...
A financial institution that is authorized by Canada Mortgage and Housing Corporation (CHMC) to make loans under the National Housing Act. Only approved lending institutions can arrange mortgages that require mortgage loan insurance.
In the case of a loan, securities or property such as a house or automobile that are pledged by a borrower to guarantee payment to the lending institution.
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for generally small and medium-sized companies with high growth potential that invest in innovative technologies, such as environmental protection and computer systems. Venture capital financings are frequently conducted by a lending institution and ...
Section 203(b): A program designed to provide mortgage insurance for someone to purchase or refinance a principal residence, usually funded by a lending institution, such as a mortgage company, bank, ...
You simply take advance orders for your product and collect at the time of the order. If you take enough orders, you can search for a lending institution which makes loans against accounts receivable.
While the voters or a legislative body determines a government's maximum debt limit, a bank or other lending institution sets the debt limit for an individual as regards to that particular lender.
Section 212 requires lending institutions to provide home loan applicants with a copy of their credit score that was obtained from a consumer credit reporting agency.
A standard formula is applied to the information to produce a number, which is called a credit score. Based upon the credit score, the lending institution will decide whether or not to extend credit. The process is formulaic and highly standardized.
The NTF grants loans on preferential terms to finance projects in Nigeria in cooperation with other lending institutions. The Fund, which is administered by the African Development Bank, was established in February 1976.
SMALL BUSINESS ADMINISTRATION (SBA) An agency of the US Government that was created in 1953 to help small businesses obtain funding from banks and other lending institutions.
Link to the Small Business Administration Home Page.
Veterans Administration (VA) mortgage A home mortgage loan granted by a lending institution to U.S. veterans and guaranteed by the Veterans Administration.
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