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The side parts of a window frame or window opening, as distinct from head and sill.
- Browse Related Terms: Awning, Bulkhead, Display Window, Jamb, panning, Security gate, Security gate tracks, Sign band, Spandrel, Spandrel Area, Storefront Bay, Storefront Infill, Storefront Opening, Subframe
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Each year, the stock market tends to increase slightly in value between December 31 and the end of the first week of January.
Known as the January Effect, this rise starts when investors sell underperforming stocks at year-end to claim capital losses on their tax returns.
After the new tax year begins on January 1, the same investors tend to reinvest the money from those sales, heightening demand temporarily, and making the overall market rise slightly during that week.
- Browse Related Terms: Capital gains distribution, Compounding, Direct investment, Direct purchase plan (DPP), Distribution, dividend, Dividend reinvestment plan (DRIP), dollar cost averaging, Fractional share, Growth, January Effect, reinvestment, total return, Total return index
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Wooden ornament cut with a thin narrow saw blade.
- Browse Related Terms: Baluster, Egg and dart, Festoon, Jigsaw Carving, Newel, Relief, Rosette, Swag
An account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract.
Office of the Comptroller of the Currency, U.S. Department of the Treasury - Cite This Source - This DefinitionAn account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract.
- Browse Related Terms: Account holder, ChexSystems, Electronic banking, Escrow, Foreign transaction fees, Joint Account, Online Banking, Payment Due Date, Service Charge, Trust administrator
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An account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract. In addition, some states allow one owner of the account to use the share balance as collateral in case of default.
- Browse Related Terms: Automated Clearing House (ACH), Automated Teller Machine (ATM), Error Resolution, Frozen Account, Garnishment/Garnish, General account, Joint Account, Margin account, Minimum Amount to Open, Point of Sale (POS), Right of offset, statement
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See: tenancy.
- Browse Related Terms: Bay, Establishment, Federal Home Loan Bank Board, Fraternal organization, Joint tenancy, Nonresidential, Storefront, Trust company
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Two or more owners share equal ownership and rights to the property. If a joint owner dies, his or her share of the property passes to the other owners, without probate. In joint tenancy, ownership of the property cannot be willed to someone who is not a joint owner.
- Browse Related Terms: Change Orders, cloud, Co-Borrower, Cooperative (Co-op) Project, Deed-in-Lieu of Foreclosure, Eminent Domain, fee simple, Foreclosure, Joint Tenancy (with Rights of Survivorship), Liability insurance, Owner's Policy, Pre-Foreclosure sale, tax deed, Title Defect, Title Insurance, Transfer Tax, Warranty deed
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An agreement between two or more parties who invest in a single business or property; similar to a limited partnership.
- Browse Related Terms: First Time Home Buyer, Home Equity Loan, Joint venture, Lease, Owner Occupied Property, Partnership, Primary residence/second home, Second home
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One of a series of parallel timber beams used to support floor and ceiling loads, and supported in turn by larger beams, girders, or bearing walls; the widest dimension is vertically oriented.
- Browse Related Terms: Armature, Bracket, Canopy, console, Corbel, Dentil, Joist, Modillion, Pier, Shouldered Arch, Turret
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A legal decision; when requiring debt repayment, a judgment may include a property lien that secures the creditor's claim by providing a collateral source.
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A lien on the property of a debtor resulting from the decree of a court.
- Browse Related Terms: certificate of title, Clear Title, Encumbrance, equity, First Mortgage, Free and clear, Ground Rent, judgment, Judgment Lien, Land rent, Lien, Lien Waiver, mortgage, Subordinate Financing, Title 1, Title Search
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A loan that exceeds the statutory size limit eligible for purchase or securitization by either FNMA or FHLMC.
State of Maine, Department of Professional and Financial Regulation - Cite This Source - This Definition- Browse Related Terms: Advance Fee Loan Scam, Conforming Loan, construction loan, Credit Service Organization, Cure, Debit card, Default, Escrow Account, Jumbo, Loan/Mortgage Broker, processor, Third Party Fees
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Jumbo CDs are large-denomination certificates of deposit with balances of at least $100,000, and sometimes $1 million or more.
They tend to pay higher rates than smaller CDs and are purchased primarily by institutional investors. However, they're increasingly marketed to individual investors as low-risk, fixed-income assets.
Jumbo CDs may be negotiable or non-negotiable. Negotiable CDs may be traded in the secondary market and are often issued in bearer form, which means that physical possession of the paper document is the sole proof of ownership. The banks that sell bearer CDs keep no records of ownership.
Non-negotiable Jumbo CDs, like conventional CDs, remain on deposit in the bank that issued them and are held in the name of the purchaser.
These Jumbo CDs, like other bank deposits, are FDIC insured, up to $100,000 per depositor in different categories of taxable accounts in each bank and up to $250,000 if they are held in self-directed retirement accounts, such as individual retirement accounts (IRAs).
- Browse Related Terms: Annual percentage yield (APY), certificate of deposit, Certificate of deposit (CD), Compound Interest, Escheat, Eurodollar, Individual Account, Interest Rate (High/Low), Jumbo CD, Passbook, Savings account, Simple interest, Time deposit
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A nonconforming loan that is larger than the limits set by the Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines.
Or non-conforming loan, is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans.
A loan that exceeds the mortgage amount eligible for purchase by Fannie Mae or Freddie Mac. Also called "nonconforming loan."
- Browse Related Terms: Conforming Loan, Fannie Mae-Seller/Servicer, Fannie Mae/Freddie Mac Loan Limit, Federal Home Loan Mortgage Corporation (FHLMC), GSE, Jumbo Loan, Mortgage Banker, Non-Conforming loan
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A loan that is subordinate to the primary loan or first-lien mortgage loan, such as a second or third mortgage.
Any mortgage of lessor priority than a first mortgage. Second mortgages, third mortgages, and most home equity loans are junior mortgages.
- Browse Related Terms: All-inclusive deed of trust, End loan, Interim loan, Junior mortgage, Permanent mortgage, Piggyback loan, second mortgage, Third mortgage, Underlying mortgage, Wraparound mortgage
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In the world of bonds, the term junior means having less claim to repayment.
If you own a junior security and the issuing company goes out of business, you have less claim on any assets than an investor who owns a senior security issued by the same company.
But all bondholders, whether they own junior or senior securities, are senior to, or have a greater claim than, holders of preferred stock, who in turn are senior to holders of common stock.
- Browse Related Terms: Bearer bond, Coupon, Debenture, Junior security, Registered bond, Revenue bond, Subordinated debt, transfer agent, Unsecured bond
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Junk bonds carry a higher-than-average risk of default, which means that the bond issuer may not be able to meet interest payments or repay the loan when it matures.
Except for bonds that are already in default, junk bonds have the lowest ratings, usually Caa or CCC, assigned by rating services such as Moody's Investors Service and Standard & Poor's (S&P).
Issuers offset the higher risk of default on junk bonds by offering substantially higher interest rates than are being paid on investment-grade bonds. That's why junk bonds are also known, more positively, as high-yield bonds.
- Browse Related Terms: Bond fund, Bond rating, Currency, Duration, Fallen angel, Gold standard, High-yield bond, Investment grade, Junk bond, Moody's Investors Service, Inc., Rating, Rating service, Risk premium
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A complaint that exposes an apparent violation of a policy provision, contract provision, rule, or statute; or which indicates a practice or service that a prudent layperson would regard as below customary business or medical standards.
Texas Department of Insurance and Office of Public Insurance Counsel - Cite This Source - This Definition- Browse Related Terms: Actual cash value, Actual cash value (ACV), Additional Living Expenses, Additional living expenses (ALE), Depreciation, Earthquake Insurance, Exclusion, flood insurance, Full Replacement Policy, Guaranteed Replacement Cost Coverage, Justified complaint, Loss of use, Renters insurance, Replacement Cost