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Definition of Mortgager
The borrower of a loan secured by property.
A loan in which two companies in separate countries borrow each other's currency for a
In the mortgage pipeline, the risk that prospective borrowers of loans committed to be
Related: Call money rate.
A mortgage loan on newly developed property that the builder subsidizes during the
A bank term loan that calls for no amortization.
Overnight, collateralized loan made to a dealer financing his position by borrowing from a
Given the after-tax stream associated with a lease, the maximum amount of conventional
The institutions that regulate and lend to savings and loan associations. The
A loan on which the rate paid by the borrower is fixed for the life of the loan.
A Congressionally chartered corporation that
loan made by one unit of a corporation to another unit of the same corporation.
A secured short-term loan to purchase inventory. The three basic forms are a blanket
loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or
The schedule for repaying the interest and principal on a loan.
Group of banks sharing a loan. See: syndicate.
The amount a policyholder may borrow against a whole life insurance policy at the interest rate
Give the borrower the possibility of drawing a loan in different currencies.
loans usually represented by conventional mortgages on multi-family rental apartments.
A process whereby two companies in different countries borrow each other's currency for a
Project loan certificate (PLC)
A primary program of Ginnie Mae for securitizing FHA-insured and coinsured
Project loan securities
Securities backed by a variety of FHA-insured loan types - primarily multi-family
Usually FHA-insured and HUD-guaranteed mortgages on multiple-family housing complexes,
Rights of individuals and companies to own and utilize property as they see fit and to receive
Savings and Loan association
National- or state-chartered institution that accepts savings deposits and
Debt that, in the event of default, has first claim on specified assets.
loan to finance current assets, The sale of the current assets provides the cash to repay
The property that portfolio choice can be separated into two independent tasks: 1)
A bank loan, typically with a floating interest rate, for a specified amount that matures in between
A loan extended by a bank for a specific purpose. In contrast, lines of credit and revolving
Debt that does not identify specific assets that can be taken over by the debtholder in case of default.
Variable rate loan
loan made at an interest rate that fluctuates based on a base interest rate such as the
PROPERTY AND EQUIPMENT
Assets such as land, buildings, machinery, and equipment that the business will use for several
Amounts that have been loaned to the company and that it still owes.
property, plant, and equipment
This label is generally used in financial
Property, plant, and equipment
This item is comprised of all types of fixed assets
Debt that has first claim on specified collateral in the event of default.
Express stipulations included in loan agreements that are designed to monitor
Negative Loan Covenants
loan covenants designed to limit a corporate borrower's behavior
Positive Loan Covenants
loan covenants expressing minimum and maximum financial measures
A short term loan to cover the immediate cash requirements until permanent financing is received.
A loan which must be repaid in full on demand.
Farm Improvement and Marketing Cooperatives Loans Act
Fixed Rate Loan
loan for a fixed period of time with a fixed interest rate for the life of the loan.
Borrowed funds having a fixed interest rate.
A loan advanced under an operating line of credit.
A secured loan made to business concerns for a specific period (normally three to ten years). It is repaid with interest, usually with periodical payments.
A co-borrower is the secondary borrower on a borrowing account. The primary borrower will receive mailed monthly statements while the co-borrower has the option to choose whether or not he/she will also receive statements.
A lump sum that you borrow from a financial institution for a specified period of time. To repay the loan, you pay interest on the entire lump sum, and make payments on a scheduled basis.
secured loan or line of credit
A lump sum of funds (loan), or a revolving source of credit with a pre-established limit (line of credit), for which the customer must provide collateral.
Borrower (Credit Insurance)
A consumer who borrows money from a lender.
Commercial Business Loan (Credit Insurance)
An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes.
A loan secured by the collateral of some specified real estate property which obliges the borrower
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