Home > Industry/Domain > 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.
11Categories 38442Terms
Add a new termContributors in Banking
Banking > Mortgage
loan "churning"
Banking; Mortgage
The process of raising cash periodically through successive cash-out refinancings. It is a scam initiated by mortgage brokers that victimizes wholesale lenders, with the ...
lock commitment letter
Banking; Mortgage
A written statement from a lender verifying that the price and other terms of a loan have been locked. Borrowers who lock through a mortgage broker should always demand to see the ...
lock failure
Banking; Mortgage
The inability or unwillingness of a lender to honor a mortgage price that a borrower had believed was guaranteed.
lock jumper
Banking; Mortgage
A borrower, usually refinancing rather than purchasing a home, who allows a lock to expire when interest rates go down in order to lock again at the lower rate.
lock period
Banking; Mortgage
The number of days for which any lock or float-down holds. Ordinarily, the longer the period, the higher the price to the borrower.
mandatory disclosure
Banking; Mortgage
The array of laws and regulations dictating the information that must be disclosed to mortgage borrowers, and the method and timing of disclosure.
Sub-categories
- General banking (976)
- Initial public offering (2798)
- Investment banking (26902)
- Loan & advances (157)
- Merchant banking (150)
- Mergers & acquisitions (3237)
- Mortgage (522)
- Personal banking (1499)
- Refinance (1590)
- Savings (211)
- Underwriting (39)