A mortgage loan in which the borrower receives a loan amount equivalent to the total value of the property to be purchased. In this situation, the borrower…

The standard Internal Revenue Service (IRS) form that individuals use to file their annual income tax returns. The form contains sections that require…

A simplified version of the 1040 form for individual income tax. To be eligible to use a 1040A form, an individual must fulfill certain requirements such…

An income tax return that is prepared by computer in a three column "answer-sheet" format. It only prints the bottom line number, dollar amount, and…

A loan, usually a mortgage, with an initial loan amount equal to 125% of the initial property value. In other words, a 125% loan has a loan-to-value ratio…

A type of mortgage with a set of two initial temporary-start interest rates that increase in stair-step fashion until a permanent interest rate is reached…

A type of adjustable-rate mortgage that has a two-year fixed interest rate period after which the interest rate on the mortgage begins to float based…

A type of mortgage with a series of three initial temporary-start interest rates that increase in a stair-step fashion until a permanent interest rate…

A type of adjustable-rate mortgage (ARM) frequently offered to subprime borrowers. These mortgages are designed as short-term financing vehicles that give…

A qualified plan established by employers to which eligible employees may make salary deferral (salary reduction) contributions on a post-tax and/or pretax…

A plan set up by an employer to help employees fund their retirement. The 408(k) plan is a simplified version of the popular 401(k) plan but is intended…

A common clause included in many trusts allowing for beneficiary withdrawals from the trust. Specifically, '5 by 5 Power' or the '5 by 5 clause', gives…

An adjustable-rate mortgage (ARM) with an initial five-year fixed-interest rate. After this initial five-year period, the interest rate begins to adjust…

An adjustable-rate mortgage with an initial five year fixed interest rate after which the interest rate begins to adjust every six months according to…

A plan that allows for the prepayment of qualified higher education expenses at eligible educational institutions. Also known as a "qualified tuition…

Home loans that are more than 60 days past due on their monthly mortgage payments. 60-plus delinquency rates are typically expressed as a percentage of…

A mortgage transaction in which a first and second mortgage are simultaneously originated. The first position lien has an 80% loan-to-value ratio, the…

The highest credit grade available as assigned to a borrower by a lender. Lenders use a credit grading system to qualify borrowers. The higher the borrower…

Ранее известная, как Американская ассоциация пенсионеров, ААП является ведущей организацией страны для людей 50 лет и старше. Основанная в 1958 в отставке…

A unique number assigned by the American Bankers Association (ABA) that identifies a specific federal or state chartered bank or savings institution…

An expression that describes the forfeiture of property and the ensuing claim over that property by a second party. Abandonment and salvage can be added…

A situation in which the rightful owner of a property, office or title has not yet been decided. Abeyance results when the current owner or holder does…

The principle that taxes should vary according to an individual's level of wealth or income. The application of this principle is a progressive tax system…

A designation of a beneficiary that can not be changed without the written consent of that beneficiary. Also referred to as an "irrevocable beneficiary…

Организация, занимающаяся развитием финансовой экспертизы в связи с разводом. Академия Финансовых Разводов практикует, обучает своих членов в финансовых…

A term associated with making additional unscheduled payments on a loan at predetermined, or random intervals. Making additional unscheduled payments…

Fringe benefits provided to employees for sickness, accidental injury, or accidental death. These benefits include payment of hospital and medical expenses…

Полис закрепленный за жизню человека или полис страхования здоровья. AD&D и охватывает случаи прежде временной смерти (в отличие от естественных причин…

The payment due to the beneficiary of an accidental death insurance policy, which is often a clause or a rider connected to a life insurance policy. …

A written agreement from one entity to back the credit liability of another. This insurance is made without consideration, and adds strength to the creditworthiness…

An entity or person who agrees to back the credit obligations of another party in order to allow that party to obtain credit for which they would not…

A negotiable instrument that provides a third-party promise of payment in the case that the original borrower does not live up to the terms of the original…

A legal contract whereby two parties agree to discharge a tort claim, contract or other liability for an amount or based on terms that differ from the…

A banking term that refers to any activity that creates a debit or credit in an account. In a bank account, this would include deposits and withdrawals…

A process by which accounts are linked for the purpose of combining fees or to ease access for account holders. One form of account aggregation is householding…

1.  In cost accounting, this is a way for an accountant to analyze and measure the cost behavior of a firm. The process involves examining cost drivers…

The net of debits and credits for an account at the end of a reporting period. This applies for all types of accounts. A bank account balance shows the…

All activity within an account, usually since inception. In a bank account, the account history includes all transactions initiated by the account holder…

Deposits that are delayed before being credited to an account, such as deposited checks that are drawn on foreign or out-of-state banks. A hold can also…

An account that is managed by one party for the benefit of another. It is sometimes called an account held in trust, and the trust relationship can be…

The primary identifier for ownership of an account, whether a vendor account, a checking or brokerage account, or a loan account. An account number is…

The process of confirming that two separate records of transactions in an account are equal. This can happen internally with a bank or broker, such as…

A periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided…

1. In general, the time period reflected by a set of financial statements. 2. In terms of taxation, it is the 12-month period a taxpayer uses to determine…

A professional designation for Certified Public Accountants who have completed the required coursework and passed an examination administered by the Certified…

1. A term used to describe an accrual accounting method when interest that is either payable or receivable has been recognized, but not yet paid or received…

The gain in the value of a discount bond expected from holding it for any duration until its maturity. As discount bonds are sold below face value, it…

An approximate measure of a company's pension plan liability. The accumulated benefit obligation (ABO) is estimated based on the assumption that the pension…

1. An individual investor's cash contributions to invest in securities over a period of time in order to build a portfolio of desired value. Dividends…

1. The phase in an investor's life when he/she builds up his/her savings and the value of his/her investment portfolio with the intention of having a…