RECAST TRIGGER
A clause in a loan contract that causes an unscheduled recasting of the loan's remaining amortization schedule if and when certain conditions are met. A recast trigger is most often associated with negative amortization mortgages, which typically have a trigger that recasts the remaining amortization schedule when the mortgage's outstanding principal balance reaches a certain percentage - usually 110-125% of the mortgage's original principal balance.
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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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