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A mortgage program available only to first-time homebuyers within the State of Maine . Income limitations are applicable.
State of Maine, Department of Professional and Financial Regulation - Cite This Source - This Definition- Browse Related Terms: Balloon Payment, Conventional Mortgage, Department of Veterans Affairs (VA), Federal Housing Authority (FHA), floating, Loan Term, Locking, Maine State Housing Authority (MSHA), Pest Inspection, Rate Lock, Rescission, Rural Development (RD), Underwriting
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The cost of the upkeep of the house. These costs may be minor in cost and nature (replacing washers in the faucets) or major in cost and nature (new heating system or a new roof) and can apply to either the interior or exterior of the house.
- Browse Related Terms: Amenity, Bracket Sign, Landscape improvement, maintenance costs, Mature tree, Occupiable space, Real property, Story, utility costs
A foreign affiliate in which the combined ownership of all U.S. parents exceeds 50 percent. Related terms: Foreign parent, U.S. affiliate.
- Browse Related Terms: Dividend receipts from the rest of the world, Equity capital flows (direct investment), Foreign parents, Intercompany debt flows (direct investment), Intra-firm trade in services, Majority-owned foreign affiliate (MOFA), Majority-owned U.S. affiliate, Reinvested earnings (direct investment), U.S. parents
A U.S. affiliate in which the combined ownership of all foreign parents exceeds 50 percent. Related terms: Foreign affiliate, U.S. parent.
- Browse Related Terms: Dividend receipts from the rest of the world, Equity capital flows (direct investment), Foreign parents, Intercompany debt flows (direct investment), Intra-firm trade in services, Majority-owned foreign affiliate (MOFA), Majority-owned U.S. affiliate, Reinvested earnings (direct investment), U.S. parents
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A dealer who specializes in a specific security, such as a bond or stock, is said to make a market in that security. That means the dealer is ready to buy or sell at least one round lot of the security at its publicly quoted price.
Other broker-dealers turn to a market maker when they want to buy or sell that particular security either for their own account or for a client's account.
Electronic markets, such as NASDAQ, tend to have several market makers in a particular security. The overall effect of multiple market makers is greater liquidity in the marketplace and more competitive pricing.
- Browse Related Terms: Ask, BID, bid and ask, Dealer, Firm quote, Make a market, Market maker, Pink Sheets, Quotation (Quote), Trading floor
A table in the input-output (I-O) accounts. The make table shows the production of commodities by industries. It shows the value, in producers' prices, of each commodity produced by each industry. In each row, one "diagonal" cell shows the value of the production of the commodity for which the industry has been designated the primary producer. The entries in the other cells in the row show the values of the production of commodities for which the industry is a secondary producer. The entries in each column of the make table represent the production by both primary and secondary producers of the commodity in the column. Related terms: Direct requirements table, Total requirements table, Use table.
- Browse Related Terms: Annual input-output (I-O) accounts, Benchmark input-output (I-O) accounts, Capital flows table, Commodity flow method, Direct requirements table, Input-output (I-O) accounts, Input-output (I-O) output multipliers, Leontief inversion approach, Make table, Make tables, Reclassification, Total requirements table, Total requirements tables, Use table, Use tables
See Make table
- Browse Related Terms: Annual input-output (I-O) accounts, Benchmark input-output (I-O) accounts, Capital flows table, Commodity flow method, Direct requirements table, Input-output (I-O) accounts, Input-output (I-O) output multipliers, Leontief inversion approach, Make table, Make tables, Reclassification, Total requirements table, Total requirements tables, Use table, Use tables
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A managed account is a portfolio of stocks or bonds chosen and managed by a professional investment manager who makes the buy and sell decisions.
Each managed account has an investment objective, and each manager oversees multiple individual accounts invested in the same basic portfolio to meet the same objective.
While managed accounts resemble mutual funds in some ways, with a managed account you own individual securities rather than shares of a common fund.
You may also be able to request that the manager avoid certain investments, which you can't do with a mutual fund. And, through your broker you might ask the manager to sell certain holdings in your account to realize capital gains or losses.
There are no phantom gains in managed accounts. Those gains can occur if a mutual fund realizes a profit from selling an investment and credits you with a capital gain even if there's no actual increase in your account value.
However, the minimum investment is usually substantially higher for a managed account - often $100,000. Plus, the annual fees, which are included in the amount you pay the financial professional who recommends the account, may be higher than the fees on a mutual fund of similar value.
- Browse Related Terms: Actively managed fund, Buy side, Closed-end fund, Economy, Enhanced index fund, index fund, Institutional investor, Managed account, Management fee, Money manager, Passively managed, Portfolio manager, Prudent man rule, Public company, Wrap account
The business entity that establishes, promotes and manages a fund or funds.
- Browse Related Terms: annual and semi-annual reports, Back-end load, expense ratio, front-end load, load, management company, management expense ratio, Mutual Fund, net asset value, net asset value per share, no-load fund, open-ended fund, Redemption, Sales charge, total return
The sum paid to the investment company's advisor or manager for supervising its portfolio and administering its operations.
- Browse Related Terms: Asset allocation, assets, diversification, dollar cost averaging, fixed income investments, growth fund, investment adviser, Investment Company, leveraging, management expense fee, portfolio, systematic withdrawal plans
A measure of the total cost of operating a fund as a percentage of average total assets.
- Browse Related Terms: annual and semi-annual reports, Back-end load, expense ratio, front-end load, load, management company, management expense ratio, Mutual Fund, net asset value, net asset value per share, no-load fund, open-ended fund, Redemption, Sales charge, total return
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A management fee is the percentage of your account value that an investment company or manager charges to handle your account.
Fees for passively managed index funds typically cost less than the fees for actively managed funds, though fees differ significantly from one fund company to another.
- Browse Related Terms: Actively managed fund, Buy side, Closed-end fund, Economy, Enhanced index fund, index fund, Institutional investor, Managed account, Management fee, Money manager, Passively managed, Portfolio manager, Prudent man rule, Public company, Wrap account
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An agreement that a lender will deliver loans or securities by a certain date at agreed-upon terms.
- Browse Related Terms: Buydown, Credit Enhancement, Credit Risk, Lease-Purchase Option, Lender Option Commitments, Mandatory Delivery Commitment, Mortgage Modification, Partial Claim, Risk Based Capital, Special Forbearance
All > Business > Finance > Insurance > Flood Insurance
Under the provisions of the Flood Disaster Protection Act of 1973, individuals, businesses, and others buying, building, or improving property located in identified areas of special flood hazards within participating communities are required to purchase flood insurance as a prerequisite for receiving any type of direct or indirect federal financial assistance (e.g., any loan, grant, guaranty, insurance, payment, subsidy, or disaster assistance) when the building or personal property is the subject of or security for such assistance.
- Browse Related Terms: Flood Disaster Protection Act (FDPA) of 1973, Flood Hazard Boundary Map (FHBM), Flood Insurance Rate Map (FIRM), Flood Zone (Zone), Mandatory Purchase, Special Flood Hazard Area (SFHA), zone
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A roof having a double slope on all four sides, the lower slope being much steeper. In rowhouse design, a double-sloped roof on the building front, below a flat roof.
- Browse Related Terms: Crocket, Dormer, Eyebrow dormer, Gable, Mansard, Pediment, Pitched, Shed Dormer
A structure, built on a permanent chassis, transported to a site in one or more sections, and affixed to a permanent foundation. The term does not include recreational vehicles.
Office of the Comptroller of the Currency, U.S. Department of the Treasury - Cite This Source - This Definition- Browse Related Terms: Closing Costs, Credit application, Credit Report, Debt Elimination Scheme, Derogatory Information, Embezzlement, Equal Credit Opportunity Act (ECOA), interest, Lease, Manufactured (mobile) home, mortgage broker, mortgage loan originator, Preferred Risk Policy (PRP)
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A structure built on a permanent chassis, transported to its site in one or more sections, and affixed to a permanent foundation. "Manufactured (mobile) home" does not include recreational vehicles.
- Browse Related Terms: 2 to 4 Family Residence, Condominium, Manufactured (mobile) home, Mobile home, Non-Residential, Other Residential, Residential Condominium Building Association Policy (RCBAP), Single-Family Residence
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Manufactured homes are homes made or manufactured in a factory and designed to be transported to a site. Manufactured homes can be large or small, and while they are constructed in the same manner as mobile homes, manufactured homes are not truly mobile. Mobile homes can be moved from one location to another, while manufactured homes are permanently attached to the site using conventional on-site construction.
- Browse Related Terms: Asbestos, Building Code, Finish, General Contractor, Historic Fabric, Manufactured home, Mobile home, Original appearance, radon