ABILITY TO REPAY
The financial capacity of a particular individual to harvest a positive outcome on a debt. The phrase "ability to repay" was specifically mentioned in the Title XIV, the Mortgage Reform and Anti-Predatory Lending Act, of the Wall Street Reform and Consumer Protection Acts by Dodd-Frank in 2010 for the intention of describing the requirement wherein mortgage originators must prove that the potential borrower's could afford the mortgage that they are applying for. Originators are obligated to check at the total current income and existing debt of the borrower, for example, to make sure that the potential mortgage debt, required insurance, property taxes plus the existing debt will not exceed a stated percentage of the borrower's income.
POPULAR TERMS
Lease Rate
The interest rate; payment made in a certain period indicated in the lease contract for renting an asset like a property or an automobile. The leas ...
Bandwagon Effect
A psychological phenomenon in which people do something mainly because others are doing it, regardless of their personal beliefs, which they may ov ...
Harvest Strategy
A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by additional investment wo ...
Discount House
A firm that buys, sells, discounts and/or negotiates bills of exchange or promissory notes. It is mainly operating in the U.K.
Economic Growth Rate
Gauge of economic growth from one period to another, expressed in percentage. The measure does not adjust for inflation, it is expressed in nominal ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
A Guide to Your Personal Income Tax: Basics
For many filing your personal income tax is one of the most frustrating things to do. However, by planning ahead and pacing yourself, doing your ta ...
An Introduction to Insurance
Most people in the world own insurance. Insurance take a lot of forms such as medical insurance, automobile insurance, and the most common of them ...
A Guide to Your Personal Income Tax: Last-Minute Moves
December 31 is fast approaching. The next thing you know you need to file your income tax return. So before you get swarmed by the hustle and bustl ...
An Introduction to Ethical Investing
Ethical investing is, simply put, investing while taking into consideration your personal beliefs or your ethics. Because it is personal, it means ...
Renovate or Move?
You have a well-furnished home with a garden full of flowers and plants. Imagine sharing your beautiful abode, which has four bedrooms, a kitchen, ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 02:00 | MI Inflation Gauge | Jan | |
| 02:30 | Retail Sales | Dec | |
| 09:00 | Factory Orders | Dec | |
| 11:30 | Construction PMI | Jan | |
| 11:30 | Sentix Investor Confidence | Feb | |
| 12:00 | Retail Sales | Dec | |
| 17:00 | Ivey Purchasing Managers Index | Jan | |
| 21:00 | Loan Officer Survey | ||
| 01:30 | Average Cash Earnings | Dec |
