Credit, Loans & Mortgages

  1. Foreclosure

    Foreclosure is the process through which a lender seizes and sells a home or property after its buyer is unable to fulfill ...
  2. Collection Agency

    A collection agency or debt collector is a company hired by lenders to recover funds that are past due or accounts that are ...
  3. Residential Mortgage-Backed Security (RMBS)

    Residential mortgage-backed securities are a type of security created from residential debt such as mortgages, home-equity ...
  4. Forbearance

    Forbearance is a temporary postponement of mortgage payments.
  5. Rule of 78

    The Rule of 78 is a method used by some lenders for calculating interest charges on a loan.
  6. Credit Utilization Ratio

    The credit utilization ratio is the percentage of a borrower’s total available credit that is currently being utilized.
  7. Creditor

    A creditor is an entity that extends credit by giving another entity permission to borrow money if it is paid back at a later ...
  8. Pledged Asset

    A pledged asset is an asset that is transferred to a lender for the purpose of securing debt.
  9. Prepayment Penalty

    A prepayment penalty is a clause in a mortgage contract that says if the mortgage is paid down or paid off within a certain ...
  10. Paydown

    A paydown occurs when the amount a company or government repays in debt exceeds the amount they currently borrow.
  11. Signature Loan

    A signature loan is a personal loan offered by banks and other finance companies that uses only the borrower's signature ...
  12. Non-Recourse Finance

    Non-recourse finance is a loan where the lender is only entitled to repayment from the profits of the project the loan is ...
  13. Ginnie Mae - Government National Mortgage Association

    Ginnie Mae is a U.S. government corporation within the U.S. Department of Housing and Urban Development (HUD).
  14. Default Risk

    Default risk is the event in which companies or individuals will be unable to make the required payments on their debt obligations.
  15. Transferable Letter of Credit

    A transferable letter of credit is a letter of credit that permits the initial beneficiary of the credit to make some or ...
  16. Unitranche Debt

    Unitranche debt is a type of structured debt that obtains funding from multiple participants with varying term structures. ...
  17. Non-standard Monetary Policy

    A non-standard monetary policy is a tool used by a central bank or other monetary authority that falls out of the scope of ...
  18. Cut-Through Clause

    A cut-through clause is a reinsurance provision that lets a party, other than the ceding company and reinsurance company, ...
  19. What's the difference between a bank guarantee and a letter of credit?

    Letters of credit ensure that a transaction proceeds as planned, while bank guarantees reduce the loss if the transaction ...
  20. One Percent Rule

    The one percent rule is a rule of thumb used to determine if the monthly rent earned from a piece of investment property ...
  21. Revolver

    A revolver is a borrower who carries a balance from month to month through a revolving credit line.
  22. Trade Line

    A trade line is a record of activity for any type of credit extended to a borrower and reported to a credit reporting agency. ...
  23. Owner Financing

    Owner financing is when a property seller finances the purchase directly with the person or entity seeking to buy it.
  24. Merchant Discount Rate

    The merchant discount rate is the rate charged to a merchant for payment processing services on debit and credit card transactions. ...
  25. Total Permanent Disability (TPD)

    Total permanent disability (TPD) is a condition in which an individual is no longer able to work due to injuries.
  26. Comprehensive Insurance

    Comprehensive insurance is a type of automobile insurance that covers damage to your car from causes other than a collision.
  27. Collision Damage Waiver (CDW)

    Collision damage waiver (CDW) is additional insurance coverage offered to an individual renting an automobile.
  28. Principal Residence

    The main home that a person inhabits and uses for the majority of the time is considered their principal residence.
  29. Moody's

    An independent research company, through its subsidiaries Moody's provides economic analysis software and rates securities.
  30. 28/36 Rule

    The 28/36 Rule is the rule-of-thumb for calculating the amount of debt that can be taken on by an individual or household. ...
  31. Purchase Money Security Interest (PMSI)

    A purchase money security interest (PMSI) is a security interest or claim on property that enables a lender who provides ...
  32. Confirmed Letter of Credit

    A confirmed letter of credit is a letter of credit with a second guarantee obtained by a borrower in addition to the first ...
  33. Void Transaction

    A void transaction is a debit or credit card purchase that is canceled after it has been authorized but before it has been ...
  34. Reference Number

    A reference number is a unique identifier assigned to each transaction made using a credit or debit card.
  35. Asset Quality Rating

    An asset quality rating evaluates the various risks, such as credit, to a pool of assets.
  36. Refinance

    A refinance occurs when a business or person revises the interest rate, payment schedule and terms of a previous credit ...
  37. Cash Back

    Cash back generally refers to a cardholder benefit offered by credit card companies that pay the cardholder a small percentage ...
  38. Obligation

    An obligation in finance is the responsibility to meet the terms of a contract. If an obligation is not met, the legal system ...
  39. Zillow Vs. Trulia

    Both websites help you find homes for sale, but they organize the information differently. Here's how they compare.
  40. Goldman Looking to Buy Clarity Money in Consumer Push

    The Wall Street bank is keen to add personal finance startup Clarity Money to its growing consumer-focused business.
  41. Homeowners Protection Act

    The Homeowners Protection Act reduces the unnecessary payment of private mortgage insurance (PMI) by homeowners who are no ...
  42. Debt Instrument

    A debt instrument is a paper or electronic obligation that enables the issuing party to raise funds by promising to repay ...
  43. Weighted Average Life - WAL

    Weighted average life is the average number of years for which each dollar of unpaid principal on a loan or mortgage remains ...
  44. Multiple Listing Service (MLS)

    A multiple listing service (MLS) is a service used by a group of real estate brokers that allows them to see one another's ...
  45. Emergency Fund

    An emergency fund is an account for funds set aside in case of an emergency, such as the loss of a job, an illness or a major ...
  46. Escrow Agent

    An escrow agent is an entity that has fiduciary responsibilities in the transfer of property from one party to another.
  47. Zero-Lot-Line House

    A zero-lot-line house is a piece of residential real estate in which the structure comes up to, or very near to, the edge ...
  48. Subprime

    Subprime is a classification of borrowers with a tarnished or limited credit history.
  49. The Great Inflation of the 1970s

    Political moves meant prevent unemployment served to do the opposite, creating one of the worst fiscal disasters of the century. ...
  50. Facts About Student Loan Types and Paying for College

    College is expensive, so there is often a need for financial assistance. Do everything you can to not accumulate too much ...
Save Money
  1. 5 Ways To Make Your Home Remodels Pay Off

    Here are five ways to make your home renovation worth the money and effort you put into it.
  2. Differences Between Private Foundations And Public Charities

    Here's a look at the differences between these types of charitable organizations.
  3. How To Monetize Your YouTube Channel

    YouTube's Partner Program helps users earn money through their channels. Find out how.
  4. The World's Most Valuable Private Companies

    In spite of the rewards going public can bring, some companies prefer to remain private, and they are very successful in this.
  5. Is Cyber Monday The New Black Friday?

    Cyber Monday is becoming more popular than Black Friday. Here's why.
Trading Center