Tag: borrowers

What is Private Mortgage Insurance Private mortgage insurance is insurance that protects a lender in the event that a borrower defaults on a conventional home...

DefinitionA variable-rate mortgage, adjustable-rate mortgage, or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an...

What is a 'Variable Interest Rate' A variable interest rate is an interest rate on a loan or security that fluctuates over...

What is 'Federal Direct Loan Program ' A program that provides low-interest loans to postsecondary students and their parents. The William D....

What is 'Fallout Risk' The lending risk that occurs when the terms of a loan are confirmed simultaneously with the terms of...

What is 'Day Loan' A temporary transfer of funds from a bank to an individual broker or a brokerage firm that is...

Home Ownership by Country Underwater Mortgage Underwater mortgage is a mortgage loan whose balance is higher than the fair market value of the home....

What is 'Underwater' An option that would be worthless if it expired today. An underwater option may be either a call or...

DefinitionIn finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a...

Debt means anything that is either owed and/or due. The parties to any debt are referred to as lenders i.e. those who give, and borrowers or those who receive loan. Usage Debt is...