Tag: mortgages

Definition A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. This allows...

DefinitionA walk-through test is a procedure under financial audit performed by auditors. Walk-Through Test What is a 'Walk-Through Test' A walk-through test...

By definition, a teaser loan, also called an adjustable rate mortgage loan, is where the interest is paid at a very low rate by...

What is 'Dealer-Median Prepayment Speed' The median value of all Wall Street securities dealers' prepayment speed estimates for the underlying mortgages used...

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...

DefinitionA mortgage loan or, simply, mortgage is used either by purchasers of real property to raise funds to buy real estate, or alternatively by...

What is 'Jingle Mail' A situation where a homeowner mails his or her house keys to a mortgage lender due to an...

Home Ownership by Country Vendor Take-Back Mortgage What is a 'Vendor Take-Back Mortgage' A vendor take-back mortgage is a type of mortgage...

LIBOR stands for the London InterBank Offered Rate. It is also termed as ICE LIBOR these days because the Inter Continental Exchange or ICE...