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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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Contributors in Banking

Banking > Mortgage

balloon mortgage

Real estate; Mortgage

A mortgage loan that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a thirty year ...

biweekly mortgage

Real estate; Mortgage

A mortgage in which you make payments every two weeks instead of once a month. The basic result is that instead of making twelve monthly payments during the year, you make ...

conventional mortgage

Real estate; Mortgage

Refers to home loans other than government loans (VA and FHA).

balance

Banking; Mortgage

The amount of the original loan remaining to be paid. It is equal to the loan amount less the sum of all prior payments of principal.

acceleration clause

Banking; Mortgage

Condition in a mortgage that gives the lender the right to require immediate repayment of the loan balance if regular mortgage payments are not made or for breach of other ...

accrued interest

Banking; Mortgage

Interest that is earned but not paid, adding to the amount owed.

affordability

Banking; Mortgage

A consumer's capacity to afford a house. Affordability is usually expressed in terms of the maximum price the consumer could pay for a house, and be approved for the mortgage ...