Banking terms starting with M

26 terms

Manufactured (Mobile) Home A structure, built on a permanent chassis, transported to a site in one or more sections, and affixed to a permanent foundation.
Market Price The price at which a security trades (i.e. could be purchased or sold) in the secondary market.
Material Advisor Any person who: Provides any material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or…
Maturity The date on which the principal balance of a loan, bond, or other financial instrument becomes due and payable.
Maturity Date The date as of which the principal of and interest on a security become due and payable.
Media Any organization in the business of informing the public with news or commentary.
member Member means any person who has been admitted to membership in the Connecticut credit union in accordance with state law.
merchant banking Merchant banking is a form of fee-based banking where the bank arranges credit financing, but does not hold the loans in its investment portfolio to…
Minimum Balance The amount of money required to be on deposit in an account to qualify the depositor for special services or to waive a service charge.
Minimum Payment The minimum dollar amount that must be paid each month on a loan, line of credit, or other debt.
Missing Payment A payment that has been made but not credited to the appropriate account.
mobile branch Mobile branch means any office of a Connecticut bank at which banking business is conducted which is in fact moved or transported to one or more…
Mobile home To be eligible for coverage under the National Flood Insurance Program, a mobile home must be on a permanent foundation and meet specific anchoring…
money forwarder [transmitter] and issuer of money orders and travelers checks No person shall engage in the business of issuing Connecticut instruments, or engage in the business of receiving money for transmitting the same, without…
Money Market Deposit Account A savings account that offers a higher rate of interest in exchange for larger than normal deposits.
Money Market Fund An open-ended mutual fund that invests in short-term debts and monetary instruments such as Treasury bills and pays money market rates of interest.
Mortgage A debt instrument used in a real estate transaction where the property is the collateral for the loan.
Mortgage Broker A mortgage broker means a person who, for a fee, commission or other valuable consideration, directly or indirectly, negotiates, solicits, arranges…
mortgage correspondent lender A mortgage correspondent lender means a person engaged in the business of making mortgage loans in such person's own name where the loans are not held by…
Mortgage Lender A mortgage lender means a person engaged in the business of making mortgage loans in such person's own name utilizing such person's own funds or by…
Mortgage Loan A loan made by a lender to a borrower for the financing of real property.
mortgage loan originator A mortgage loan originator means an individual who is employed or retained by, or otherwise acts on behalf of, a mortgage lender, mortgage correspondent…
Mortgage-Backed Security (MBS) A mortgage‐backed security (MBS) is an asset‐backed security or debt obligation that represents a claim on the cash flows from mortgage loans, most…
Mortgagee The lender in a mortgage loan relationship.
Mortgagor The borrower in a mortgage loan relationship. (Property is used as collateral to make payment.)
Mutual Fund A fund operated by an investment company that raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market…