|Graduated-payment mortgages (GPMs)|
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Definition of Graduated-payment mortgages (GPMs)
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Automatic payment of moneys derived from a benefit.
A statistical compilation formulated by a sovereign nation of all economic transactions
The difference between the demand for and supply of a country's currency on the foreign exchange market.
A statement of a country's transactions with other countries.
The lease payment at which a party to a prospective lease is indifferent between
The prepayment rate of a MBS coupon that will produce the same CFY as that of
A computerized clearing system for sterling funds
An international wire transfer system for high-value
A bond's interest payments.
A federal Act requiring employers to withhold income taxes from employee pay.
Date dividend checks are mailed.
A transaction in which the buyer's payment for securities is due at the time of
An electronic funds transfer system used by businesses to remit taxes to the government.
The percentage of loans in a pool of mortgages outstanding at the origination
mortgages in which annual increases in monthly payments are used to
Interac« Direct Payment
Instead of paying with cash or a credit card, Interac Direct payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
Contractual debt payments based on the coupon rate of interest and the principal amount.
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
The consideration paid by the lessee to the lessor in exchange for the use of the leased equipment/property. payments are usually made at fixed intervals.
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
The date on which each shareholder of record will be sent a check for the declared dividend.
The date established for the payment of a declared dividend.
Company-written checks that have not yet cleared.
Checks written by a company that have not yet cleared.
bond A bond that gives the issuer an option (during an initial period) either to make
Reducing fund transfers between affiliates to only a netted amount. Netting can be done on
escribes the lagged collection pattern of receivables, for instance the probability that a
A system where funds are electronically debited from your account on a specified date by a financial institution (e.g., bill, mortgage or personal loan payments) or perhaps an insurance or an utility company.
A payment made in advance of when it is treated as an expense for profit purposes.
Also called speed, the estimated rate at which mortgagors pay off their loans ahead of
payments made in excess of scheduled mortgage principal repayments.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
RAMs (Reverse-annuity mortgages)
mortgages in which the bank makes a loan for an amount equal to a
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
A bond that will make only one payment of principal and interest.
A service which enables you to request a 'stop' on any cheque or other pre-authorized payment, as long as the funds have not yet been disbursed. For example, you might request a stop payment on a post-dated cheque if you no longer need the product or service for which that cheque was initially written.
A grant or gift that is not payment for services rendered.
assumption The assumption of payment of scheduled principal and interest with no payments.
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