Banking terms starting with R

22 terms

  1. Real Estate Settlement Procedures Act (RESPA) Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the…
  2. Reconciliation The process of analyzing two related records and, if differences exist between them, finding the cause and bringing the two records into agreement.
  3. Red Cross Scheme This is a scheme that uses a charitable entity to disguise a transfer of funds offshore. For example, $1,000,000 is donated to a charitable organization.
  4. Redlining The alleged practice of certain lending institutions of not making mortgage, home improvement, and small business loans in certain neighborhoods-usually…
  5. Refinancing A way of obtaining a better interest rate, lower monthly payments, or borrow cash on the equity in a property that has built up on a loan.
  6. Refund An amount paid back because of an overpayment or because of the return of an item previously sold.
  7. registration by coordination A state procedure for registering securities for which a registration statement has been filed with the Securities and Exchange Commission (the "SEC")…
  8. registration by qualification A state procedure for registering securities for which a registration statement has not been filed with the SEC.
  9. Regular Program Community A community wherein a Flood Insurance Rate Map is in effect and full limits of coverage are available under the Flood Disaster Protection Act (FDPA or…
  10. regulation a Regulation A is an exemption from federal securities registration. Regulation A permits an issuer to raise a limited dollar amount in an offering of…
  11. Regulation D Regulation D is an exemption from federal securities registration for private placements of securities.
  12. Release of Lien To free a piece of real estate from a mortgage.
  13. Renewal A form of extending an unpaid loan in which the borrower's remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the…
  14. Reportable transaction Any transaction the IRS or FTB determines as having a potential for tax avoidance or evasion.
  15. representative office Foreign banks often open representative offices as a first step in establishing a presence in America.
  16. Residential Mortgage-Backed Securities (RMBS) ​A type of Mortgage-Backed Security backed by residential mortgage loans.
  17. Residual Interest Interest that continues to accrue on your credit card balance from the statement cycle date until the bank receives your payment.
  18. Return Item A negotiable instrument—principally a check—that has been sent to one bank for collection and payment and is returned unpaid by the sending bank.
  19. Reverse Mortgage A reverse mortgage is a special home loan product that allows a homeowner aged 62 or older the ability to access the equity that has accumulated in their…
  20. Revolving Credit A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services.
  21. Right of Offset Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off.
  22. Right of Rescission Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan.