SUBPRIME BORROWER
Individual with poor credit rating and limited credit history. Normally, these borrowers only qualify for mortgages with higher interest rates and higher APR credit cards. They may have an extensive record of late or missed payments, excessive debt, default debt, or no property assets that can be used as a collateral or security. In the United States, an individual garnering a FICO credit score below 640 is considered a subprime borrower.
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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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