Tag: payment

National Automated Clearinghouse Association (NACHA)

National Automated Clearinghouse Association (NACHA) What is 'National Automated Clearinghouse Association - NACHA ' A non-profit membership association charged with overseeing...

Import Duty

Import Duty What is an 'Import Duty ' Import duty is a tax collected on imports and some exports by the...

Offline Debit Card

Offline Debit Card What is 'Offline Debit Card' A card that combines characteristics of both a traditional (online) debit card and a...

Make Whole Call (Provision)

Make Whole Call (Provision) What is a 'Make Whole Call (Provision)' A make whole call provision is a type of call provision...

Odd-Days Interest

Odd-Days Interest What is 'Odd-Days Interest' Interest that is earned from a mortgage or other loan with closed-end installments that contain a...

Omnibus Account

DefinitionAn Omnibus Customer Securities Account is a securities account used by a brokerage firm or its affiliated clearing firm in order to maintain appropriate...

Mandatory Mortgage Lock

Home Ownership by Country Mandatory Mortgage Lock What is 'Mandatory Mortgage Lock' The sale of a mortgage in the secondary mortgage market...

Manufactured Payment

Manufactured Payment What is 'Manufactured Payment' A payment made to pass through dividend and interest payments from the borrower to the lender...

Mortgage Loan

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

Annual Percentage Rate

DefinitionThe term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for...

EDITOR PICKS