CLOSED-END MORTGAGE
Restrictive mortgage which cannot be prepaid, refinanced, or renegotiated without settling breakage costs to the lender. This is applicable to homebuyers who won’t plan to move anytime soon and will receive a longer term commitment in turn for a lower interest rate. It also prohibits pledging collateral which has been used to back another loan. Also called closed mortgage.
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Secondary Mortgage Market
Secondary Mortgage Market is a market wherein mortgage aggregators, securitizers, originators, and investors go to buy and sell mortgage loans and ...
Giffen Good
Good for which demand rises as the price escalates, and declines when the price decreases. It has an upward-sloping demand curve, contrary to the f ...
Inactivity Fee
Fee charged to investors by brokerages for infrequent trading in their brokerage accounts to meet the minimum trading requirement
CVE
Currency abbreviation for the Cape Verde escudo, the official currency of the Republic of Cape Verde. The CVE subunit is called the centavo. Instea ...
Product Recall Insurance
An insurance that covers the costs involved in recalling possibly defective products made by the insured.
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