Banking Words and Terms List

Banking Words and Terms List ABA Ability to Pay Acceleration Clause Account Analysis Accounts Payable Accounts Receivable Accrual Basis Accounting Additional Living Expense Insurance Additional Property Adjustable Rate Mortgage (ARM) Adjusted Income Adjustment Period Advantage 90® Advantage 90® Flex-3 Option ARM Advantage 90® Flex-5 Option ARM Affidavit Affordable 97 Agent Aggregate Loan Limit Agreement of Sale Alimony Amortization Amortization Schedule Amortization Term Amortized Loan Amount Financed Annual Percentage Rate (APR) Annual Percentage Yield (APY) Annuity Application Appraisal Appraised Value Appraiser Appreciation Approval Assessed Value Assessments Asset Asset-Based Lending Assignment Assignment of Lease Assumability Assumable Assumable Mortgage Assumption Assumption Clause ATM Auto Pay Automated Clearing House (ACH) Services Automatic Deposit Automatic Payment Automatic Savings Plan Automobile Expense or Allowance Available Balance B2B Balance Sheet Balloon Mortgage Balloon Payment Bankers Acceptances Bankruptcy Basis Point Binder Biweekly Mortgage Blanket Mortgage Bridge Loan Broker Business Plan C Corporation Cap Capital Capital Expenditures Capital Gain Capital Improvement Capital Lease Cash Basis Accounting Cash Concentration Cash Flow Cash Reserves Cash-Out Refinance Caveat Emptor Certificate of Deposit (CD) Certificate of Eligibility Certificate of Title Certified Lender Program (CLP) Check 21 Check Fine Sort Service Check Safekeeping Checking Account Child Support Clear Title Closing Closing Costs Closing or Settlement Date Closing Statement COFI – 11th District Cost Of Funds Index Collateral Collection Co-maker or Endorser on a Note Combination Loan Combined Loan-to-Value (CLTV) Combined Statement Commitment Letter Common Areas Community Property Comparables Condominium Condominium Conversion Conforming Loan Constant Maturity Treasury (CMT) Construction Loan Contingency Contingent Liability Contract Conventional Mortgage Convertible ARM Conveyance Co-op Cooperative Coverdell Education Savings Account (CESA) Credit History Credit Limit Credit Rating Credit Report Credit Reporting Agency Credit Repository Curtailment Debit Transaction Debt-to-Income Ratio Deed Deed of Trust Default Deferred Interest Delinquency Demand Deposit Dependent Student Deposit Depreciation Direct Deposit Direct Lender Program Disclosure Statement Dividend Dividend and Interest Income Document Donor Double Escrow Down Payment Download Drawdowns (Draws) Due-on-Sale Provision Dwelling Coverage Earnest Money Earthquake Insurance Easement Effective Age Eighty-ten-ten (80-10-10) Electronic Data Interchange (EDI) Reporting Employee Retirement Income Security Act (ERISA) Encumbrance Equal Credit Opportunity Act (ECOA) Equity Escrow Escrow Account Escrow Analysis Escrow Deposit Account Escrow Disbursements Escrow Fee Escrow Holdback Escrow Payment Estate Estimated APR Estimated Interest Rate Estimated Market Value EXIMBank (Export-Import Bank) Export Letter of Credit (Advised) Export Working Capital Export Working Capital Program (EWCP) Fair Credit Reporting Act Fair Market Value Fannie Mae Fannie Mae - Community Home Buyer Program FDIC Insured Federal Home Loan Mortgage Corporation (FHLMC) Federal Housing Administration (FHA) Federal Identification Number Federal Insurance Contributions Act (FICA) Fee Simple FICO® Score Finance Charge Financial Center Financial Statements First Adjustment First Mortgage Fixed Amortization Fixed Assets Fixed Interest Rate Fixed Rate Mortgage (FRM) Float Down Floater Floating Interest Rate Foreclosure Forward Contracts Foster Care Income Freddie Mac Free Application for Federal Student Aid (FAFSA) FSB Full-Time Salary Fully Indexed Interest Rate General Partnership Gift From a Family Member Good Faith Estimate Government National Mortgage Association (GNMA) Grace Period Gross Bonuses Gross Overtime Gross Profit Gross Profit Margin Gross Sales Guarantee Guarantor HELOC Import Letter of Credit Impound Account Income Property Independent Contractor Independent Student Index Individual Retirement Account (IRA) Initial Fixed Interest Period Initial Interest Rate Initiation Date Installment Installment Loan Intangible Asset Interest Interest Rate Interest Rate Cap Inventory Investment Property Investor Joint Tenancy Joint Venture Jumbo Mortgage Keogh Retirement Plan Leasehold Lender Lender Code LESS Buydown or Subsidy Payments LESS Capitalized Interest LESS Deferred Interest Assessed LESS HUD Payments (Not deductible from FIT) LESS Net Prepaid Interest (Current Year) Lessee Lessor Lease Letter of Credit Liabilities Liability Liability Insurance Lien Lien Holder Lien Search Lifetime Cap Limited Partnership Line of Credit Liquidate Loan Origination Fee Loan Processing Loan Servicing Loan Term Loan Terms Loan-to-Value Ratio Lockbox Services Lock-In Rate London Interbank Offer Rate (Libor) Margin Market Value Master Promissory Note (MPN) Maturity Minimum Balance Minimum Payment Money Market Deposit Account Money Market Savings Monthly Treasury Average (MTA) Mortgage Mortgage Disability Insurance Mortgage Insurance Mortgage Points Mortgagee Mortgagor Multi-Family Negative Amortization Net Income Net Sales Net Worth Non-Conforming Loan Non-Owner Occupant Note Notes Receivable Operating Expenses Operating Lease Operating Profit (Loss) Operating Profit Margin Origination Date Origination Fee Outstanding Balance Overdraft Charge Overdraft Line of Credit Overdrawn Owner Occupant Partnership Payables Payee Payment Adjustment Period Payment Cap Payment Cutoff Time Payment Shock Payoff Per Diem Interest Periodic Rate Cap Personal Property Coverage Personal Umbrella or Personal Liability Protection PIN PITI Planned Unit Developments (PUD) PLOC PLUS Bankruptcy Trustee Interest PLUS Late Charges Paid PLUS or LESS (Prior Year Adjustment) PLUS Payments Applied to Previously Deferred Interest PLUS Prior Year’s Interest Applied Point-of-Sale Points Positive Pay Power of Attorney (POA) Pre-Approval Preferred Lender Program (PLP) Preliminary Title Report Prepaids Prepayment Clause Prepayment Penalty Pre-Qualification Price to Earnings Ratio (PE ratio) Prime Plus Zero Percent Prime Rate Principal Principal and Interest Private Mortgage Insurance (PMI) Pro Forma Financial Statements Productivity Profit Profit and Loss Statement Profit Margin Profit Sharing Promissory Note Property Appraisal Prospectus Proxy Purchase Contract Purchase or Sales Agreement Purchase Order Purchase Price Purchase Transaction Qualified Retirement Plans (QRP) Qualifying Rate Quick Ratio Quit Claim Deed Rate Cap Rate Lock Rate Lock-in Real Capital Realtor Receivables Reconveyance Recording Refinancing Registered Agent REO Repeating Rescission Period Reserves Account Residual Income RESPA Revenue Sharing Reversal (as it relates to the Transaction History) Revocable Trust Right of Rescission Rollover IRA Account Roth Conversion IRA Roth IRA Round Table Closing Routing Number S Corporation Sales Contract Sallie Mae Seasonal Loan Second Mortgage Secondary Mortgage Market Secured Loan Seller Carry Back Separate Maintenance Servicing (or Loan Servicing) Settlement Statement Signer Simplified Employee Pension (SEP) Plan Small Business Administration (SBA) Sole Proprietorship Stop Payment Subordinate Financing Survey Sweep Account Tangible Asset Tax-advantaged Account Tenants-in-Common Term Term Loan Time Deposit Title Title Insurance Title Insurance Fees Title Report Title Search Total Debt Ratio Total Mortgage Interest Received from Payer(s) or Borrower(s) Transaction Limitations Transfer Tax Trustee Truth-in-Lending Act Unapplied Funds Undercapitalization Underwriting Unsecured Loan Upfront Costs USA Patriot Act Notification VA Loan Valid Valuation Value Added Variable Rate Venture Capital Veterans Affairs Wire Transfer Withholding Working Capital Zero Lot Line