Personal banking

Personal banking

Referring to the business when banks carry out transactions with customers directly, rather than with other banking institutions or with large corporations.

Industry: Banking

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Personal banking

FHA experience

Banking; Personal banking

A statistical publication of the FHA that shows the proportion of FHA-insured and VA mortgage loans that terminate each year. Mortgage loan mortality tables.

A common type of secured corporate bond. The bond indenture for mortgage bonds, along with associated documents executed by the issuer, provides for the bondholders to have, through the trustee, an ...

mortgage constant

Banking; Personal banking

Percentages that are an expression of the total interest and principal payments that must be made each year to fully amortize a loan over a specified number of years using level payments.

mortgage loan

Banking; Personal banking

A loan secured by a mortgage. In the mortgage-backed securities industry, loans secured through deeds of trust are also referred to as mortgage loans.

mortgage note

Banking; Personal banking

A name used to describe a promissory note that is secured by an interest in real property. Mortgage notes generally, but not always, call for mostly regular, periodic payments of principal and ...

mortgage pass-through

Banking; Personal banking

The simplest and oldest type of MBS. A pass-through is a security that provides its owners with a pro rata claim to all of the cash flow generated from a pool of mortgage loans.

mortgage-backed security (MBS) or mortgage-backed bond

Banking; Personal banking

Securities composed of, or collateralized by, loans that are themselves collateralized by liens on real property. MBSs can be categorized into two major types. Pass-through pools are mortgage-backed ...