MUTUAL MORTGAGE INSURANCE FUND
A fund that insures mortgages funded by the Federal Housing Administration (FHA) on a single family home. Individuals with this fund pay the one-time fee of 1.5% of the mortgage loan, to be settled at closing, and annual mortgage-insurance premiums of 0.5% of the entire loan amount that should be given until the mortgagor has 22% equity in that home.
It pays the lender in the event the mortgagor defaults. Borrowers with FHA mortgages are regarded higher risk because of the minimal down-payment requirement, slacked income, and credit requirements on these loans.
POPULAR TERMS
Short Leg
Short Leg is a contract where an individual holds a short position. The contract is in the option spread created by the trader by purchasing a put ...
Borrowing Base
Money a lender will loan to a company. The borrowing base is usually determined by a method called margining, where the lender determines a discoun ...
Swaziland Lilangeni
Currency abbreviation for the Swaziland Lilangeni, the official currency of Swaziland. The currency is comprised of 100 cents and presented with th ...
Deposit/Withdrawal At Custodian - DWAC
A method of electronically transferring new shares or paper share certificates from the Depository Trust Company (DTC), which acts as a clearinghou ...
Economic Stimulus
Plans to financially stimulate an economy. It implements monetary or fiscal policy changes to bolster a lagging or struggling economy. Governments ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Buying a Home: Writing an Offer
You’re down to the last four steps to buying your dream house. Now, you need to write an offer and the seller has to accept it. Take into acc ...
Choosing Your Bank
Now that you’ve learned the basics of banking and the importance of it, you are now ready to put your money in a bank. But which bank should ...
Renovate or Move?
You have a well-furnished home with a garden full of flowers and plants. Imagine sharing your beautiful abode, which has four bedrooms, a kitchen, ...
An Introduction to Forex Currencies
As the biggest market in the world, the foreign exchange market or forex is also one of the most participated in the world. As such, learning about ...
Ethical Investing: Knowing Human Rights and Workers` Rights
Ethical investors want to know how corporations treat people, specifically their workers. They depend on the UN Universal Declaration of Human Righ ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Tertiary Industry Index | Apr | |
| 08:00 | Wholesale Price Index | May | |
| 08:30 | Producer & Import Prices | May | |
| 09:00 | SECO Consumer Confidence | May | |
| 10:00 | Trade Balance | Apr | |
| 11:00 | Current Account (sa) | Apr | |
| 11:00 | Industrial Production | Apr | |
| 14:15 | Housing Starts | May | |
| 14:30 | NY Fed Empire State manufacturing index | Jun |
