Tag: loans

What is a 'National Bank' A national bank, in the United States, is a commercial bank chartered by the comptroller of the...

What is the 'Pass-Through Rate' The pass-through rate is the rate on a securitized asset pool -- such as a mortgage-backed security...

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...

What is a qualified retirement plan A qualified retirement plan is a type of retirement savings plan that offers certain tax advantages to encourage employees...

What is a Qualified Reservist A qualified reservist is an individual who meets the requirements to serve in the Reserve component of the United States...

What is a Qualified Mortgage Insurance Premium A qualified mortgage insurance premium (MIP) is a type of mortgage insurance that homebuyers are required to purchase...

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 Credit Union - FCU' A credit union chartered and supervised by the National Credit Union Association (NCUA), a federal...

What is 'Federal Farm Credit System - FFCS' In the United States, a network of federally chartered financial institutions designed to provide...