DEFEASANCE CLAUSE
A mortgage provision indicating that the borrower will be given the title to the property once all mortgage terms are met. The defeasance clause is not required in states using property liens as collateral for a mortgage. In this sense, the clause is a substitute for collateral. Most states allow property liens when mortgages are issued, and don't follow the common law theory requiring a defeasance clause. In real estate, a lien gives the mortgagee the right to foreclose the property upon default of the terms in order to recoup what was owed.
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Swiss National Bank
Independent central bank responsible for Switzerland’s monetary policy and issuing Swiss franc banknotes. Cantons (states) and state-owned ba ...
Emigration
Relocating people within a country to live elsewhere. People emigrate for several reasons such as improving the quality of life and escalating a pe ...
Forward Forward
An agreement between 2 parties to engage in a loan transaction in the future. The lender will lend the borrower funds on a specified future date, a ...
Bond Yield
Amount of return generated from a bond. It is computed by dividing the interest paid by its current market price. Nominal yield is the most common ...
Stuffing
Act of selling undesirable securities from the broker-dealer’s account to their clients. Brokers-dealers seek to avoid taking losses from sec ...
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