LENDER CONFIRMATION AUCTION
A foreclosure auction by which the lender, usually a bank, must approve and accept the highest bid. This is in contrast to an absolute auction where the winning bid gets the property. Usually advertised as "subject to lender confirmation", it is still done as an auction where engrossed bid on the property but does not automatically go to the highest bidder. It is conducted when the lender pushes a foreclosure but won’t agree to a bid price below its reserve price.
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Profit
Profit occurs when the amount of revenue gained from a business exceeds the expenses, costs, and tax needed to maintain the business activity.
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Meticulous probe conducted by an underwriter, ensuring all details has been revealed to prospective investors before issuing a new security.
Laffer Curve
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