Dictionary of banking terms pdf

dictionary of banking terms pdf

Mortgagor: The borrower in a mortgage loan relationship.
You can use it the same way you would use the original check." The substitute check must also have been handled by a bank.
Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.You may also wish to visit the cfpb or the FTC web sites.Renewal: A form of extending an unpaid loan in which the borrower's remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the next financing period.Cease and Desist Letter: A letter requesting that a company stops the activity mentioned in the letter.The bank will freeze laboratory manual for anatomy and physiology the account to preserve the existing funds until legal action can determine the lawful owner.The signature card represents a contract between the bank and the depositor.ARMs - Variable Rate Feature.See also Asset Management - Bank Custodians.These funds offer investors the advantages of diversification and professional management.
Right of Rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan.
Dictionary of Insurance Terms, dictionary of International Business Terms, dictionary of Marketing Terms.

Payday Loans: A small-dollar, short-term loan that a borrower promises to repay out of their next paycheck or deposit of funds.Interest Rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time.Back to Top L Late Charge: The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment.Revolving Credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services.Bank Examination: Examination of a bank's assets, income, and expenses-as well as operations coreldraw graphics suite x3 student & teacher edition by representatives of Federal and State bank supervisory authority-to ensure that the bank is solvent and is operating in conformity with banking laws and sound banking principles.He summarizes key banking- and securities-related laws and provides a table of acronyms as well as extensive cross references.Back to Top K Kiting: Writing a check in an amount that will overdraw the account but making up the deficiency by depositing another check on another bank.Drawee bank: The bank upon which a check is drawn.