FORCED PLACE INSURANCE
The insurance that a lien holder places on a property, to provide coverage in the event the borrower allows coverage to lapse. Forced place insurance is intended to ensure that the property remains insured, protecting both the homeowner and the lien holder. The costs associated with forced place insurance are paid upfront by the lien holder, but added to the balance of the lien. Due to the relative ease of abuse resulting from forced place insurance, there are specific provisions in the Dodd-Frank Act that require forced place insurance to be "bona fide and reasonable."
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One-Tailed Test
A statistical test where the critical area of a circulation is one-sided so that it is either less than or greater than a specific value, but not b ...
Less-than-Truckload
A shipping service that carries small loads of freight, weight between partial and full truckload. The service is being offered by many large and n ...
Original Cost
It simply refers to the total cost associated in buying an asset.
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