MORTGAGE ACCELERATOR
A mortgage loan program that resembles the hybrid of a home equity loan and a checking account. Well-known in the United Kingdom and Australia, borrowers’ paychecks are deposited directly into the mortgage account and the mortgage balance is lessened by that amount. As checks are written against the account during that month, the mortgage balance increases. Any amount placed in the account but not withdrawn via the check writing process is applied to the mortgage balance at the end of the month as repayment of principal.
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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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