Business terms starting with L

154 terms

Labor Condition Application (LCA) Labor condition application (LCA), Form ETA 9035/9035E is a document that a prospective H-1B employer files with OFLC when it seeks to employ nonimmigrant…
Laddering Laddering is an investment strategy that calls for establishing a pattern of rolling maturity dates for a portfolio of fixed-income investments.
Land contract Same or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
Land rent The rent paid on leased land; same as "ground rent."
Landmarks Law Refers to Section 3020 of the New York City Charter and Chapter 3 of Title 25 of the Administrative Code of the City of New York.
Landmarks Preservation Commission The Commission acting in its agency capacity to implement the Landmarks Law.
Landscape improvement A physical betterment of real property or any part thereof, consisting of natural or artificial landscaping, including but not limited to grade, terrace…
Lapse Termination of a policy due to non-payment of premiums.
Lapsed Policy A policy that has terminated for non-payment of premiums.
Large entity Any entity with gross receipts greater than $10 million during the year the reportable transaction occurs or in the preceding taxable year.
Large-capitalization (large-cap) stock The stock of companies with market capitalizations of $10 billion or more is known as large-cap stock.
Laspeyres See Laspeyres price index
Laspeyres price index A fixed-weighted price index that is computed as the sum of base-period quantities valued at current-period prices divided by the sum of base-period…
Last trading day The last trading day is the final day on which an order to buy or sell an options contract or futures contract can be executed.
Late Charge The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment.
Late payment A late payment is your failure to make at least the minimum payment so that it reaches us by or before the time and due date on your bill.
Late Payment Charges The penalty the homeowner must pay when a mortgage payment is made after the due date grace period.
Late-payment fee A fee charged if your payment is received after the due date.
Latticework Thin strips of wood arranged in a netlike grid pattern, often set diagonally.
Lay off Lay off of a U.S. worker means that the employer has caused the worker's loss of employment, other than through: discharge due to inadequate performance…
Lead underwriter When a company wants to raise capital by selling securities to investors, it partners with an investment bank, known as the lead underwriter.
Leade A horizontal or vertical cylinder, usually made of metal, which carries water from the gutter to the ground.
Leaded window A window composed of small panes, usually diamond-shaped or rectangular, held in place by narrow strips of cast lead.
Lease A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent).
Lease Purchase (Lease Option) Assists low to moderate income homebuyers in purchasing a home by allowing them to lease a home with an option to buy; the rent payment is made up of the…
Lease-Purchase Option An option sometimes used by sellers to rent a property to a consumer, who has the option to buy the home within a specified period of time.
Legacy Assets The Legacy Assets are a portfolio of debt securities held by the Asset Management Estates (AMEs) of failed corporate credit unions.
Legitimate source of wage information Legitimate source of wage information is a survey that meets all the criteria set forth in 20 C.F.R. §655.731(b)(3)(iii)(C).
Lender An individual or financial institution that lends money with the expectation that the money will be returned with interest.
Lender Option Commitments An agreement giving a lender the option to deliver loans or securities by a certain date at agreed upon terms.
Lender-Placed Insurance insurance placed on a home or property by a lender to protect their interest in the collateral which secures the loan.
Leontief inversion approach A mathematical technique which is used at BEA to estimate the input-output (I-O) total requirement coefficients and RIMS II multipliers.
Letter of Wishes A letter of wishes is a document that purportedly has no legal status. In fact the document is used to transmit the wishes of the creator or the alleged…
Level load Some load mutual funds impose a recurring sales charge, called a level load, each year you own the fund rather than a sales charge to buy or sell shares.
Level payment mortgage A loan that requires the same payment each month (or other period) for full amortization.
Level Premium Insurance Insurance for which the cost is distributed evenly over the premium payment period.
Level term insurance With a level term life insurance policy, your annual premium remains the same for the term, which may be as long as 10 or 20 years.
Level yield curve A level yield curve results when the interest rate on short-term US Treasury issues is essentially the same as the rate on long-term Treasury bonds.
Leverage Leverage is an investment technique in which you use a small amount of your own money to make an investment of much larger value.
Leveraged buyout A leveraged buyout occurs when a group of investors using borrowed money, often raised with high yield bonds or other kinds of debt, takes control of a…
leveraging The borrowing of money for investment purposes.
Liabilities A person's debts and other financial obligations.
Liability A legally enforceable financial obligation caused by negligence.
Liability Coverage Insurance protection that pays for claims or judgments brought against the insured.
Liability insurance Insurance that pays when you are liable for injuries to other persons or damage to their property.
Liability limits The maximum amount your liability policy will pay. Your policy must pay at least $25,000 for each injured person, up to a total of $50,000 per accident…
Liable Responsible or answerable by law; legally obligated.
Liablities The sum of debts or obligations of a business. Normally, the liabilities appear on the credit side of a balance sheet.
LIBOR-Index An index used to determine interest rate changes for certain ARM plans, based on the average interest rate at which international banks lend to or borrow…
Lien Legal claim against a property. Once the property is sold, the lien holder is then paid the amount that is owed.
Lien Status For HMDA reporting purposes, lenders are required to report lien status for loans they originate and applications that do not result in originations…
Lien Waiver A document that releases a consumer (homeowner) from any further obligation for payment of a debt once it has been paid in full.
Lienholder A lienholder is the bank, finance company, credit union, other financial institution, or individual with whom you signed an agreement to borrow money…
Life Cap A limit on the range interest rates can increase or decrease over the life of an adjustable-rate mortgage (ARM).
Life expectancy Your life expectancy is the age to which you can expect to live. Actuarial tables establish your official life expectancy, which insurance companies use…
Life insurance Life insurance is a contract you sign with an insurance company, obligating it to pay a death benefit of a certain value to the beneficiaries you name.
Life settlement If you are over age 70 and no longer need your life insurance policy, you may be able to sell it to a third party in what's called a life settlement.
life-of-loan cap See: cap.
Lifecycle fund A lifecycle fund, which is a fund of funds, invests in individual mutual funds that a fund company puts together to help investors meet their objectives…
Lifeline account A lifeline account is a basic checking account with low or no minimum deposit and balance requirements and very low or no monthly fees.
Lifetime Cap For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate or monthly payment can increase or decrease over the life of the loan.
Lifetime learning credit You may qualify to claim a lifetime learning tax credit of up to $2,000 each year for qualified higher educational expenses for yourself, your spouse, or…
Light A pane of glass; a window, or a compartment of a window.
Lighting The method or equipment for providing artificial illumination.
Limit order An order to buy or sell securities in which the client has specified the price. The order can be executed only at the specified price or a better one.
Limit price A limit price is the specific price at which you tell your stockbroker to execute a buy or sell order on a particular security.
limited branch Limited branch means any office at a fixed location of a Connecticut bank at which banking business is conducted other than the main office, branch or…
Limited liability company Organizing a business enterprise as a limited liability company (LLC) under the laws of the state where it operates protects its owners or shareholders…
Limited partner A limited partner is a member of a partnership whose only financial risk is the amount he or she has invested.
Limited partnership A limited partnership is a financial affiliation that includes at least one general partner and a number of limited partners.
limited purpose trust company A limited purpose trust company engages only in fiduciary services. It does not accept deposits, and funds are not insured by the FDIC.
Limited Tort Limited Tort offers you a savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses; however, you are not able…
Limits The maximum amount of benefits the insurance company agrees to pay under an insurance policy in the event of a loss.
Line of Credit A pre-approved loan authorization with a specific borrowing limit based on creditworthiness.
Lintel A horizontal structural element over an opening which carries the weight of the wall above it.
Lipper, Inc Lipper provides financial data and performance analysis for more than 30,000 open- and closed-end mutual funds and variable annuities worldwide.
Liquid Asset Liquid assets are accounts or securities that can be easily converted to cash at little or no loss of value.
Liquidated damage (LD) Liquidated damage (LD) is an amount which is fixed or stipulated by the parties at the inception of the contract and which is a reasonable estimate of…
liquidation The process through which the assets backing a defaulted loan are sold for cash.
Liquidity The ability of the market for a security to absorb a reasonable amount of buying or selling without major price changes.
Listed security A listed security is a stock, bond, options contract, or similar product that is traded on an organized exchange.
Listed transaction A reportable transaction that is the same as, or substantially similar to, a transaction specifically identified by the IRS or FTB as a tax avoidance…
Listing Agreement A contract between a seller and a real estate professional to market and sell a home.
Listing Broker This is the real estate broker that represents the sellers. They will market the property to bring buyers, which in turn bring offers to the seller.
Listing requirement Listing requirements are the standards a corporation must meet to have its stock or bonds traded on a particular exchange.
Living Benefits (See Accelerated Death Benefits.)
Living will A living will is a legal document that describes the type of medical treatment you want-or don't want-if you are terminally ill or unable to communicate…
Load Commissions charged on the purchase or sale of mutual fund units.
Load fund Some mutual funds charge a load, or sales commission, when you buy or sell shares or, in some cases, each year you own the fund.
Loan A transaction in which one entity, the lender, allows another, the borrower, to use property.
Loan Acceleration An acceleration clause in a loan document is a statement in a mortgage that gives the lender the right to demand payment of the entire outstanding balance…
Loan Application Number A unique identifier (up to 25 characters long) that can be used to retrieve the particular loan application to which the entry relates.
Loan Application Register (LAR) also known as the HMDA-LAR, the LAR, or the Register. The term LAR refers to the loan application register format that has been prescribed for reporting…
Loan Contract The written agreement between a borrower and a lender in which the terms and conditions of the loan are set.
loan discount See: points.
Loan Fee A fee charged by a lender to make a loan (in addition to the interest charged to the borrower).
Loan flip The lender encourages you to get additional cash by refinancing your mortgage again and again.
Loan Fraud Purposely giving incorrect information on a loan application in order to better qualify for a loan; may result in civil liability or criminal penalties.
Loan modification An adjustment or compromise of an existing residential mortgage loan. (Excludes a refinancing transaction.)
Loan modification activities For compensation or gain, or in the expectation of compensation or gain, engaging in or offering to engage in effecting loan modifications in Idaho.