Tag: loans
Take-Out Lender
What is 'Take-Out Lender' A type of financial institution that provides a long-term mortgage on property. This mortgage will replace interim financing,...
Dealer-Median Prepayment Speed
What is 'Dealer-Median Prepayment Speed' The median value of all Wall Street securities dealers' prepayment speed estimates for the underlying mortgages used...
Dealer Bank
What is 'Dealer Bank' A commercial bank authorized to buy and sell government debt securities including federal and municipal bonds. This debt...
Debt Consolidation
DefinitionDebt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a...
Day Loan
What is 'Day Loan' A temporary transfer of funds from a bank to an individual broker or a brokerage firm that is...
Large Value Transfer System (LVTS)
What is 'Large Value Transfer System - LVTS' An electronic wire payment system in Canada, facilitating the transfer of funds between large...
Underwater Mortgage
Home Ownership by Country Underwater Mortgage Underwater mortgage is a mortgage loan whose balance is higher than the fair market value of the home....
Underlying Security
What is an 'Underlying Security' An underlying security is the security on which a derivative derives its value. For example, a call...
Underlying Asset
What is an 'Underlying Asset'
An underlying asset is the security or commodity underlying a Derivative. The most common type of derivative is a futures...
Bankruptcy
DefinitionBankruptcy is a legal status of a person or other entity that cannot repay debts to creditors. In most jurisdictions, bankruptcy is imposed by...