Tag: mortgages
Rate-Improvement Mortgage
What is a Rate-Improvement Mortgage
A rate-improvement mortgage is a type of home loan that offers a lower interest rate than the standard fixed-rate mortgage....
Canadian Rollover Mortgage
Home Ownership by Country Canadian Rollover Mortgage What is 'Canadian Rollover Mortgage' A home mortgage with an adjustable rate feature. The Canadian...
Canadian Mortgage and Housing Corporation (CMHC)
What is CMHC and what do they do
The Canadian Mortgage and Housing Corporation (CMHC) is a Canadian Crown corporation that provides mortgage loan insurance,...
Pass-Through Security
What is 'Pass-Through Security' A pass-through security is a pool of fixed-income securities backed by a package of assets. A servicing intermediary...
Participation Mortgage
DefinitionA participation mortgage or participating mortgage is a mortgage loan, or sometimes a group of them, in which two or more persons have fractional...
Pass-Through Rate
What is the 'Pass-Through Rate' The pass-through rate is the rate on a securitized asset pool -- such as a mortgage-backed security...
Private Mortgage Insurance
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...
Qualified Mortgage Insurance Premium
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...
Variable Rate Mortgage
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...
Federal Credit Union (FCU)
What is 'Federal Credit Union - FCU' A credit union chartered and supervised by the National Credit Union Association (NCUA), a federal...