Business terms starting with P

287 terms

Piggyback loan A combination of the construction loan with the permanent loan commitment. Also, one mortgage held by more than one lender, with one lender having…
Pilaster An engaged pier or pillar, often with capital and base.
Pink Sheets Pink Sheets LLC is a centralized financial information network. It provides current prices and other information in both print and electronic formats to…
Pitched Sloping, especially referring to a roof.
PITI Common acronym for principal, interest, taxes, and insurance—used when describing the monthly charges on a mortgage.
PITI Reserves A cash amount that a borrower has available after making a down payment and paying closing costs for the purchase of a home.
PITIO Abbreviation for p rincipal, i nterest, t axes, i nsurance and o ther monthly non-housing costs.
Place of employment Place of employment means the worksite or physical location where the work actually is performed.
Plan administrator A plan administrator is the person or company your employer selects to manage its retirement savings plan.
Plan participant If you're enrolled in an employee retirement plan, such as a 401(k) or pension plan, you're a plan participant with certain rights and protections…
Plan provider The plan provider of a retirement savings plan, such as a 401(k), 403(b), or 457 plan is the mutual fund company, insurance company, brokerage firm, or…
Plan sponsor The plan sponsor of a retirement savings plan is an employer who offers a retirement savings plan to employees.
Planned Unit Development (PUD) A real estate project in which individuals hold title to a residential lot and home while the common facilities are owned and maintained by a homeowners'…
Plinth A platform base supporting a column or pilaster.
PMI Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with…
point An amount equal to one percent of the principal amount of a mortgage. Loan discount points are a one-time charge assessed at closing by the lender to…
Point of Sale (POS) 1) The location at which a transaction takes place. 2) Systems that allow bank customers to effect transfers of funds from their deposit accounts and…
Pointing The treatment of joints between bricks, stone, or other masonry components by filling with mortar; also, called tuck-pointing
Points The term points can mean different things in different contexts. With regard to stock, a point represents a $1 change in market price, so if a share of…
points (aka discount points) One point is equal to 1 percent of the principal amount of a mortgage loan. For example, if a mortgage is $200,000, one point equals $2,000.
Points (also called discount points) One point is equal to 1 percent of the principal amount of a mortgage loan. For example, if a mortgage is $200,000, one point equals $2,000.
Points and Origination Fees Fees paid to the lender for the loan. One point equals 1 percent of the loan amount. Points are usually paid in cash at closing.
Police Officers Retirement System (PORS) The name of the retirement system covering police officers, firefighters, peace officers, probate judges, and magistrates. See PORS for more information.
Policy The contract form issued by the company to explain the coverage provided. It is a legal document.
Policy Dividend (See Dividend.)
Policy Loan Under an insurance policy, the amount that can be borrowed at a specified rate of interest from the issuing company by the policyholder, who uses the…
Policy owner The person or party who owns an individual insurance policy. This person may be the insured, the beneficiary, or another person.
Policy period The amount of time an insurance contract or policy provides coverage.
Policyholder or policy owner If you own an insurance contract or policy, you are a policyholder, also known as the policy owner.
Pooling Combining of assets of different entities, i.e., two or more counties, for efficient investment purposes while maintaining separate accounting trails.
Portability Portability is a provision of the INA intended to preserve the legal status of an H-1B worker who is already in the U.S.
Portable benefits Benefits or accumulated assets that you can take with you when you leave your employer or switch jobs are described as portable.
portfolio All the securities which an investment company or an individual investor owns.
Portfolio manager A portfolio manager is responsible for overseeing a collection of investments, either for an institution - such as a mutual fund, brokerage firm…
Portfolio turnover Portfolio turnover is the rate at which a mutual fund manager buys or sells securities in a fund, or an individual investor buys and sells securities in a…
Portico A small porch composed of a roof supported by columns, often found in front of a doorway.
Positive yield curve A positive yield curve results when the interest rate on long-term US Treasury bonds is higher than the rate on on short-term Treasury bills.
Post-1939 Building Any building in the Riverdale Historic District built on or after January 1, 1940.
Post-FIRM Building A building for which construction or substantial improvement occurred after December 31, 1974, or on or after the effective date of an initial Flood…
Post-trade processing Each securities transaction goes through post-trade processing during which the details of the trade are compared, cleared, and settled.
Potentially abusive tax shelter Any tax shelter required to be registered under prior federal law or is a reportable transaction under present federal law or state law.
Potentially Responsible Parties (PRP) The Superfund law (CERCLA) allows EPA to respond to releases or threatened releases of hazardous substances into the environment.
Pounds per square inch (PSI) a term generally used when describing water pressure when cleaning a building
Power of Attorney A written instrument which authorizes one person to act as another's agent or attorney.
Pre-1940 Building Any building in the Riverdale Historic District built, in whole or in part, prior to January 1, 1940 including buildings which have undergone subsequent…
Pre-Approval A process by which a lender provides a prospective borrower with an indication of how much money he or she will be eligible to borrow when applying for a…
Pre-Approval Letter A letter from a mortgage lender indicating that you qualify for a mortgage of a specific amount. It also shows a home seller that you're a serious buyer.
Pre-existing Condition A pre-existing condition is a health problem that you already have when you apply for insurance.
Pre-FIRM Building A building for which construction or substantial improvement occurred on or before December 31, 1974, or before the effective date of an initial Flood…
Pre-foreclosure sale when the servicer allows the homeowner to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less…
Pre-foreclosure Sale A procedure in which the borrower is allowed to sell a property for an amount less than what is owed on it to avoid a foreclosure.
Pre-payment The payment of a debt before it actually becomes due.
Pre-Qualification A preliminary assessment by a lender of the amount it will lend to a potential homebuyer.
Pre-Qualification Letter A letter from a mortgage lender that states that you're pre-qualified to buy a home, but does not commit the lender to a particular mortgage amount.
Pre-Qualify A lender informally determines the maximum amount an individual is eligible to borrow. This is not a guaranty of a loan.
Pre-Tax Any type of contribution or compensation deducted from gross pay before earnings are taxed. Commonly referred to as deferred.
Preapproval When you're preapproved for a mortgage, the lender guarantees in advance the maximum you can borrow, provided your financial situation doesn't change…
Preauthorized Electronic Fund Transfers An EFT authorized in advance to recur at substantially regular intervals.
Preauthorized Payment A system established by a written agreement under which a financial institution is authorized by the customer to debit the customer's account in order to…
Predatory Lending Abusive lending practices that include making mortgage loans to people who do not have the income to repay them or repeatedly refinancing loans, charging…
Predictive Variables The variables that are part of the formula comprising elements of a credit-scoring model.
Preferred Provider Organization (PPO) A preferred provider organization (PP0) is a network of doctors and other healthcare providers that offers discounted care to members of a sponsoring…
Preferred Risk Policy (PRP) A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums.
preferred shares Shares that carry dividends at fixed rates which must be paid before any dividends are paid to common shareholders.
Preferred Stock Some corporations issue preferred as well as common stock. Preferred stock can be an attractive investment because it typically pays a fixed dividend on a…
Preliminary Assessment / Site Inspection (PA/SI) The Preliminary Assessment (PA) and Site Inspection (SI) are used by EPA to evaluate the potential for a release of hazardous substances from a site.
Preliminary estimate The second estimate of gross domestic product (GDP) and its components for a quarter.
Preliminary estimates See Preliminary estimate
Premium The price charged for insurance.
Premium credit card A credit card that offers high credit limits and often has additional features like product warranties, travel insurance, or emergency services.
Premium Finance Company A lending institution that finances automobile insurance premium for a fee.
Prepaid college savings plan Prepaid savings plans are investment accounts in which an individual chooses among offered investment options, usually mutual funds.
Prepaid college tuition plan An education savings account or plan operated by a state or educational institution designed to help families accrue funds for future college costs.
Prepayment The payment of a debt before it actually becomes due.
Prepayment Clause A clause in a mortgage allowing the mortgagor to pay off part or all of the unpaid debt before it becomes due.
Prepayment Penalty A penalty imposed on a borrower for repaying the loan before its due date. (In the case of a mortgage, this applies when there is not a prepayment clause…
Prepayment Penalty (Mortgages) A charge assessed by a creditor when the consumer pays off all or part of the loan before it is due.
Prepayment penalty clause A clause in a mortgage that requires the borrower to pay a fee for retiring a loan before it becomes due.
Prepayment Penalty Mortgage (PPM) A type of mortgage that requires the borrower to pay a penalty for prepayment, partial payment of principal or for repaying the entire loan within a…
Prepayment penalty/prepayment premium A charge the mortgagor pays the mortgagee for the privilege to prepay the loan.
Prequalification When you prequalify for a mortgage, the lender calculates the approximate amount you'd be able to borrow, based on your current income and debt.
Prerefunding Prerefunding may occur when a corporation plans to redeem a callable bond before its maturity date.
Present value The current value of a future cash flow or series of cash flows discounted at an appropriate interest rate or rates.
Present value (PV) The current value of a future cash flow or series of cash flows discounted at an appropriate interest rate or rates.
Pretax contribution A pretax contribution is money that you agree to have subtracted from your salary and put into a retirement savings plan or other employer sponsored…
Pretax income Pretax income, sometimes described as pretax dollars, is your gross income before income taxes are withheld.
Prevailing wage Prevailing wage is defined as the average wage paid to similarly employed workers in the requested occupation in the area of intended employment.
Previous Balance The cardholder's account balance as of the previous billing statement.
Price improvement Price improvement occurs when you pay less or receive more on a securities transaction than the bid and offer prices being currently quoted.
Price Range The high and low amount a buyer is willing to pay for a home.
Price-to-book ratio Some financial analysts use price-to-book ratios to identify stocks they consider to be overvalued or undervalued.
Price-to-cash flow You find a company's price-to-cash flow ratio by dividing the market price of its stock by its cash receipts minus its cash payments over a given period…
Price-to-earnings ratio (P/E) The price-to-earnings ratio (P/E) is the relationship between a company's earnings and its share price, and is calculated by dividing the current price…
Price-to-sales ratio A price-to-sales ratio, or a stock's market price per share divided by the revenue generated by sales of the company's products and services per share…
price/earnings ratio A common stock's current market price divided by the company's annual per share earnings.
Pricipal, interest, taxes, insurance and homeowners association dues (PITIA) Shorthand for principal, interest, taxes and insurance, which are the components of the housing expense.
Primary Façade A facade facing a street or a public thoroughfare that is not necessarily a municipally dedicated space, such as a mews or court.
Primary inputs Capital and labor inputs to production; the related costs include, for example, compensation, profits, and depreciation.
Primary market If you buy stocks or bonds when they are initially offered for sale, and the money you spend goes to the issuer, you are buying in the primary market.
Primary Mortgage Market The market for newly originated mortgages.