All > Business > Real Estate
Abbreviation for principal and interest.
- Browse Related Terms: Additional Principal Payment, Annual Mortgagor Statement, Annuity, Charge-off, interest, Interest rate, Interest Rate Swap, Nonperforming Asset, Notional Principal Amount, open-end mortgage, Original Principal Balance, P&I, PITI Reserves, Premium, Remaining Balance, Right of rescission, Self-amortizing mortgage, taxes
A fixed-weighted price index that is computed as the sum of current-period quantities valued at current-period prices divided by the sum of current-period quantities valued at base-period prices.
- Browse Related Terms: Base period, Chained-dollar estimate, Chained-type index, Current-dollar estimate, Directly priced method, Fisher ideal price index, Implicit price deflator, IPD, Laspeyres, Laspeyres price index, Paasche, Paasche price index
All > Business > Finance > Personal Finance
A paid-up policy is a whole life insurance policy for which no additional premium payments are required to keep in force.
Generally, a standard paid-up policy lasts the rest of your lifetime or until you reach a specific age, such as 100. Some policies are designed to be fully paid up at an age specified in the contract, such as whole life policies for which you pay no more premiums after age 65.
- Browse Related Terms: Annual renewable term insurance, Cash value, Convertible term, Council of Economic Advisors (CEA), Elimination period, Guaranteed renewable policy, Lapse, Level term insurance, Life insurance, Nonforfeiture clause, Own-occupation policy, Paid-up policy, Premium, Renewable term, Term insurance, Variable Life Insurance, Waiver of premium
All > Business > Finance > Insurance > Life Insurance
Insurance on which all required premiums have been paid.
- Browse Related Terms: Automatic Premium Loan, dividend, Grace Period, Lapsed Policy, Level Premium Insurance, Loan Value, Non-forfeiture Values, Paid-up Insurance, Premium, Reinstatement, Settlement Option, Waiver of premium
All > Business > Real Estate
A three-part window opening with a tall, round-arched center window flanked by smaller rectangular windows and separated by posts or pilasters.
- Browse Related Terms: Color, Drip molding, Enframement, Fanlight, French door or French window, Head, Hood, member, Mullion, Oriel, Palladian Window, Reveal, Sill, Stile, Stoop, Surround, Transom, Transom bar
All > Business > Real Estate
A portion of a flat surface recessed, or raised from the surrounding area, distinctly set off by molding or some other decorative device.
- Browse Related Terms: Coping, Decorative Masonry, Detached house, Header, key, panel, Paver, Pointing, Rock-faced, Rubble stone, Rustication, Spalling, Stretcher, Stringcourse, Sugaring
Also listed in:
- All > Law > Common Legal Terms
All > Business > Finance > Personal Finance > Mortgage
The reporter panel listing is the universe of all institutions that reported under HMDA. A separate panel exists for each reporting year.
- Browse Related Terms: Action Taken Date, Action Taken Type, Applicant Ethnicity, Applicant Race, Applicant Sex, Application Received Date, Co-applicant Ethnicity, Co-applicant Race, Co-applicant Sex, Good Faith Estimate (GFE), Gross Annual Income, Lien Status, Loan Application Number, Loan Application Register (LAR), Panel - HMDA Reporter Panel Listing, Reasons for Denial, Respondent Name, Transmittal Sheet (TS), Type of Purchaser
All > Business > Real Estate
An applied material, usually metal, that covers the front (exterior) surface of an existing window frame or mullion
- 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
Also listed in:
All > Business > Finance > Personal Finance
Short-term, unsecured debt securities that a corporation issues are often referred to as paper - for short-term commercial paper. The term is sometimes used to refer to any corporate bonds, whether secured or unsecured, short or long term.
- Browse Related Terms: cash equivalent, Commercial Paper, Debt security, equity, Hypothecation, Liquid asset, Liquidity, money market, Money supply, money-market fund, Paper, Working capital
Also listed in:
- All > Law > E-Discovery
All > Business > Finance > Personal Finance
If you own an asset that increases in value, any increase in value is a paper profit, or unrealized gain. If you sell the asset for more than you paid to buy it, your paper profit becomes an actual profit, or realized gain.
The same relationship applies if the asset has lost value. You have a paper loss until you sell, when it becomes a realized loss.
You owe no capital gains tax on a paper profit, though you use the paper value when calculating gains or losses in your investment portfolio, for example. The risk with a paper profit is that it may disappear before you realize it. On the other hand, you may postpone selling because you expect the value to increase further.
- Browse Related Terms: Basis, Basis price, Capital Gain, Capital gains tax (CGT), Capital loss, Community property, Convertible hedge, Cost basis, Earnings, Fund family, Investment Income, Long-term capital gain (or loss), Paper profit (or loss), Phantom gains, Profit, Realized gain, Return, Return on investment, Sell short, Step-up in basis, Unrealized gain, Unrealized loss, Wash sale
The dollar value of a security stated by the issuer and the total amount to be repaid to the investor as principal.
- Browse Related Terms: Conforming Loans, Loan-to-Value (LTV), Maturity, Maturity Date, Overcollateralization, Par (Face) Value, Parity Payment, Payoff, Weighted Average Coupon, Non-Agency RMBS, Principal Paydown, Note Principal Balance (Unpaid), Weighted Average Life
All > Business > Finance > Investment
The stated or face value of a stock or bond. It has little significance for common stocks, however, for bonds it specifies the payment amount at maturity.
The stated or face value of a stock or bond. It has little significance for common stocks, however, for bonds it specifies the payment amount at maturity.
- Browse Related Terms: Asset, Asset Backed Securities, CMOs (Collateralized Mortgage Obligations), Collateralized Mortgage Obligation (CMO), Modified Duration, Mortgage backed security, Par Value, trust, Yield
All > Business > Finance > Personal Finance
Par value is the face value, or named value, of a stock or bond.
With stocks, the par value, which is frequently set at $1, is used as an accounting device but has no relationship to the actual market value of the stock.
But with bonds, par value, usually $1,000, is the amount you pay to purchase at issue and the amount you receive when the bond is redeemed at maturity.
Par is also the basis on which the interest you earn on a bond is figured. For example, if you are earning 6% annual interest on a bond with a par value of $1,000, that means you receive 6% of $1,000, or $60.
While the par value of a bond typically remains constant for its term, its market value does not. That is, a bond may trade at a premium, or more than par, or at a discount, which is less than par, in the secondary market.
The market price is based on changes in the interest rate, the bond's rating, or other factors.
All > Business > Real Estate
A low wall that serves as a vertical barrier at the edge of a roof, terrace, or other raised area; in an exterior wall, the part entirely above the roof.
- Browse Related Terms: Balustrade, Bay Window, Clapboard Wood, Cornice, Cresting, Cupola, Eave, Finial, Parapet, Portico, Shingle, Terra cotta
Part of the NCUA's guarantee obligation on the NGNs that represents the excess of the unpaid Note Principal Balance (after related payments have been made) over the unpaid Principal Balance of the Underlying Securities adjusted for any Implied Writedowns.
- Browse Related Terms: Conforming Loans, Loan-to-Value (LTV), Maturity, Maturity Date, Overcollateralization, Par (Face) Value, Parity Payment, Payoff, Weighted Average Coupon, Non-Agency RMBS, Principal Paydown, Note Principal Balance (Unpaid), Weighted Average Life
All > Business > Real Estate
A loss mitigation option offered by the FHA that allows a borrower, with help from a lender, to get an interest-free loan from HUD to bring their mortgage payments up to date.
- 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 > Real Estate
A payment that is less than the scheduled monthly payment on a mortgage loan.
A payment that is less than the total amount owed on a monthly mortgage payment. Normally, lenders do not accept partial payments. The lender may make exceptions during times of difficulty. Contact your lender prior to the due date if a partial payment is needed.
- Browse Related Terms: amortization, balloon mortgage, Balloon note, Balloon Payment, biweekly mortgage, Biweekly Payment Mortgage, curtailments, fifteen-year mortgage, Flexible payment mortgage (FPM), Installment Debt, Interest-only loan, Level payment mortgage, Mortgage Life and Disability Insurance, Negative amortization, Partial Payment, Prepayment, Prepayment penalty, Prepayment Penalty Mortgage (PPM), Principal and interest payment (P & I), Remaining Term, Reverse annuity, term
A community for which the Federal Emergency Management Agency (FEMA) has authorized the sale of flood insurance under the National Flood Insurance Program (NFIP).
Office of the Comptroller of the Currency, U.S. Department of the Treasury - Cite This Source - This Definition- Browse Related Terms: Cease and Desist Letter, Escrow Funds, Federal Emergency Management Agency (FEMA), flood insurance, Flood Plain, Mobile home, National Flood Insurance Program (NFIP), Participating Community, Wire transfer
All > Business > Finance > Insurance > Flood Insurance
A community for which the Mitigation Division Administrator has authorized the sale of flood insurance under the NFIP.
- Browse Related Terms: act, Community, Community Rating System (CRS), Emergency Program, Federal Emergency Management Agency (FEMA), Floodplain Management, Mitigation Division, National Flood Insurance Program (NFIP), National Flood Insurance Reform Act (NFIRA), Participating Community, Regular Program
All > Business > Finance > Personal Finance
A community for which the Federal Emergency Management Agency (FEMA) has authorized the sale of flood insurance under the National Flood Insurance Program (NFIP).
- Browse Related Terms: Federal Emergency Management Agency (FEMA), flood insurance, Flood Plain, living will, Medicaid, National Flood Insurance Program (NFIP), Participating Community, Regular Program Community, Special Flood Hazard Area (SFHA)
All > Business > Finance > Insurance > Life Insurance
Insurance on which the policyholder is entitled to share in the surplus earnings of the company through policy dividends that reflect the difference between the premium charged and the cost to the company of providing the insurance.
- Browse Related Terms: Mutual Life Insurance Company, Non-participating Insurance, Participating Insurance, Policy Dividend, Producer, Risk Classifcation, Stock Life Insurance Company, Underwriting
All > Business > Finance > Personal Finance
When policyholders have what is called a participating policy from a mutual insurance company, they are eligible to receive dividends based on the company's financial performance.
When claims are low and the company's investments perform well, dividends tend to rise. On the other hand, when claims are high and investment returns slump, dividends are likely to fall.
The dividends on a participating policy aren't guaranteed, so they may not be paid every year. Unlike the dividends paid to a company's shareholders, participating policy dividends are considered a return of premium. As a result, the dividends are not taxed as income.
Dividends may typically be paid out as cash, as additional insurance coverage, or may be used to reduce policyholders' premiums or repay policy loans. Rules vary from company to company.
- Browse Related Terms: Car insurance, Catastrophic illness insurance, claim, Credit Disability Insurance (CDI), Deductible, Exclusion, Homeowner's insurance, Indemnity insurance, Insurance (Hazard), Named perils policy, Participating policy, Policyholder or policy owner, Pre-existing Condition, Preferred Risk Policy (PRP), Rider