Banking

Banking

The business of a banker, banking involves an establishment for the loaning, holding, exchanging, or issuing of money. Also deals with the transmission of funds and the extensions of credit.

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Banking > Mortgage

delinquency

Banking; Mortgage

A loan payment that is overdue, but within the period allowed before actual default is declared.

disaster myopia

Banking; Mortgage

The tendency of lenders to ignore potential shocks that can cause them major losses if a long period has elapsed since a shock has occurred.

documentation requirements

Banking; Mortgage

The set of lender requirements that specify how information about a loan applicant's income and assets must be provided, and how it will be used by the lender.

dual index mortgage

Banking; Mortgage

A mortgage on which the interest rate is adjustable based on an interest rate index, and the monthly payment adjusts based on a wage and salary index.

due-on-sale clause

Banking; Mortgage

A provision of a loan contract that stipulates that if the property is sold the loan balance must be repaid. This bars the seller from transferring responsibility for an existing ...