Interest on tijuana prostitutes the covered bond is paid to investors from the issuer's cash flows, while the cover pool serves as secured collateral.
Average life On a mortgage security, the average time to receipt of each dollar of principal, weighted by the amount of each principal prepayment, based on prepayment assumptions.Initial advance The process of obtaining an advance against available credit under your line of credit.The debt service reserve fund may be initially funded out of bond proceeds, over a period of time from revenues, or by a combination of the above.Index When used in a mortgage note or credit agreement, a financial index is the measurement used to decide how much the annual percentage rate how to lookup sex offenders in my neighborhood will change at the beginning of each adjustment period.Exchange-traded fund A fund that tracks an index, a commodity or a basket of assets.Liquidity The ability to trade bonds efficiently without causing any major changes in their prices.Manager (or senior manager) The underwriter that serves as the lead underwriter for an account.Monoline bond insurer A Triple-A-rated company that guarantees that all interest and principal payments on a bond will be paid as scheduled and that participates in no other cambodia escort girl line of insurance business.
Escrow analysis The periodic examination of escrow accounts to determine if current monthly deposits will provide sufficient funds to pay taxes, insurance and other bills when due.
These two tests the "private business use test" and the "private payment or security test" must be examined in connection with the issuance of any municipal security.
This is a lump-sum amount due and payable in addition to the loan balance, and is usually limited to the early years of a mortgage.Legal opinion An opinion concerning the validity of a securities issue with respect to statutory authority, constitutionality, procedural conformity and usually the exemption of interest from federal income taxes.You should be prepared to pay these costs before your loan closes.Exercising a rate reduction option typically does not require requalifying for the loan.Transfer of ownership can only be accomplished when the securities are properly endorsed by the registered owner.Trans are notes that are issued in anticipation of both taxes and revenues.Consumers are required to receive this form no later than 3 business days before they close on the loan.Trustees are appointed to ensure compliance with the bond documents and to represent bondholders in enforcing their contract with the issuer.Medium-term note A debt security issued under a program that allows an issuer to offer notes continuously to investors through an agent.Variable-rate monthly minimum payment The minimum amount you will need to pay each month on your home equity line of credit, or heloc (does not include any payments for the Fixed- Rate Loan Payment Option).Pro rata Proportional distribution to all holders of the same class, based on ownership.Typically, it is expressed on a semi-annual basis.