Excepted TrustA trust in which a filer has a vested interest, but no knowledge of the holdings.
Exception HoldA period of time that allows the banks to exceed the maximum hold periods defined in the Expedited Funds Availability Act.
Excess contributionAn excess contribution occurs when the salary deferrals or matching contributions of highly compensated employees are higher than the amounts permitted by…
Excess SpreadThe extent to which the Weighted Average Coupon on the assets underlying an asset-backed security exceeds the coupon rate of that security plus any…
ExchangeAn exchange generally occurs when one company acquires another. The shareholders of the acquired company are often given the option to sell their shares…
Exchange RateThe amount a dollar is worth when you exchange it for money from another country.
Exchange traded notesExchange traded notes (ETNs) are debt securities issued by a financial institution, listed on a stock exchange, and traded in the secondary market.
Exchange-traded fund (ETF)Exchange-traded funds (ETFs) are listed on a stock exchange and trade like stock.
excise taxA tax on the sale or use of specific products or transactions.
ExclusionA contractual provision in an insurance policy that denies or restricts coverage for certain perils, persons, property or locations.
ExclusionsSpecific situations or circumstances listed in your policy describing when benefits will not be paid.
Exclusive ListingA written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.
ExecutorA person named in a will and approved by a probate court to administer the deposition of an estate in accordance with the instructions of the will.
Executor/ExecutrixWhen you die, your executor administers your estate and follows the directions provided in your will.
exempt (from withholding)Free from withholding of federal income tax. A person must meet certain income, tax liability, and dependency criteria.
Exempt employee (FLSA)(FLSA)Exempt employee (FLSA) in the context of H-1B workers generally refers to the professional workers who are exempted from the overtime requirements of the…
Exempt H-1B workerExempt H-1B worker is an H-1B worker who receives at least $60,000 per year in wages or has attained a master's or higher degree in a specialty related to…
ExemptionAn exemption is a fixed dollar amount that you can subtract from your adjusted gross income to reduce your taxable income.
exemptionsAmount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency.
ExerciseWhen you act on a buying or selling opportunity that you have been granted under the terms of a contract, you are said to exercise a right.
Exercise priceAn option's exercise price, also called the strike price, is the price at which you can buy or sell the stock or other financial product that underlies…
Existing windowsThe windows existing at the time of designation or windows which have been changed subsequent to designation pursuant to a permit issued by the Commission.
Expense ratioA mutual fund company's cost of doing business. It includes the fund's management fee as stated in the Simplified Prospectus.
Expiration cycleEquity and index options expire on a predictable four-month schedule, two of which are determined by the expiration cycle to which the underlying…
Expiration dateThe date on which an insurance policy expires.
Extraordinary Medical BenefitsThis coverage pays when medical and rehabilitation expenses exceed $100,000. It provides a maximum of $1 million of coverage.
Eyebrow dormerA curved dormer with no sides, covered by a smooth protrusion from the sloping roof.
Face AmountThe amount stated on the face of the policy that will be paid in case of death or at maturity.
Face valueFace value, or par value, is the dollar value of a bond or note, generally $1,000.
Fair Collection Practices ActA federal law supplemented by Maine law, which gives rules and regulations governing debt collectors. Federal Law: 15 U.S.C.§ 1601 et seq.
Fair Credit Reporting ActA consumer protection law that regulates the disclosure of consumer credit reports by credit reporting agencies and specifies procedures for challenging…
Fair Credit Reporting Act (FCRA)(FCRA)A Federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes.
Fair Debt Collection Practices Act (FDCPA)(FDCPA)The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act.
Fair Housing ActThe Fair Housing Act makes it illegal to discriminate, in any phase of selling or renting real estate, against anyone on the basis of race, color…
Fair Market ValueFair market value is the price you would have to pay to buy a particular asset or service on the open market.
Fallen angelCorporate or municipal bonds that were investment-grade when they were issued but have been downgraded are called fallen angels.
Familial StatusHUD uses this term to describe a single person, a pregnant woman or a household with children under 18 living with parents or legal custodians who might…
Family and Medical Leave Act (FMLA)(FMLA)Family and Medical Leave Act (29 U.S.C. 2601 et seq.) is a federal law that ensures that eligible workers are able to take unpaid extended leaves of…
Family of fundsMany large mutual fund companies offer a variety of stock, bond, and money market funds with different investment strategies and objectives.
FanlightA semicircular or semielliptical window above a door, usually inset with radiating glazing bars.
Fannie MaeFannie Mae has a dual role in the US mortgage market. Specifically, the corporation buys mortgages that meet its standards from mortgage lenders around…
Fannie Mae-Seller/ServicerA lender that Fannie Mae has approved to sell loans to it and to service loans on Fannie Mae's behalf.
Fannie Mae/Freddie Mac Loan LimitThe current 2004 Fannie Mae/Freddie Mac loan limit for a single-family home is $333,700 and is higher in Alaska , Guam , Hawaii , and the U.S.
FasciaA horizontal, flat element often combined with a cornice and architrave.
Fast marketA fast market is one with heavy trading and rapidly changing prices in some but not necessarily all of the securities listed on an exchange or market.
FaçadeThe main exterior face of a building, sometimes distinguished from the other faces by elaboration of architectural or ornamental details.
FDIUSSee Foreign direct investment in the United States (FDIUS)
FDMCommon abbreviation for Financial Disclosure Management, the online program to electronically file and manage financial disclosure reports.
Federal Credit UnionA credit union chartered, examined, and supervised by the federal government through NCUA.
Federal Credit Union ActFederal law enacted in June 1934 that allowed the organization of federal credit unions and established methods for their chartering, supervision, and…
Federal Deposit Insurance Corporation (FDIC)(FDIC)A government corporation that insures the deposits of all national and State banks that are members of the Federal Reserve System.
Federal fundsWhen banks have more cash than they're required to in their reserve accounts, they can deposit the money in a Federal Reserve bank or lend it to another…
Federal Funds RateThe interest rate charged by banks with excess reserves at a Federal Reserve district bank to banks needing oversight loans to meet reserve requirements.
Federal Home Loan Bank Act of 1932This Act established the Federal Home Loan Bank Board (“FHLBank Board”), which charters and supervises Federal Savings and Loans Institutions…
Federal Home Loan Bank BoardFormer name for "Office of Thrift Supervision." See also "Office of Thrift Supervision."
Federal Home Loan Bank Board (“FHLBank Board”)A five-member board established in 1932 by the Federal Home Loan Bank Act. The FHLBank Board provided the FHLBanks with the authority to regulate and…
Federal Home Loan Banks (FHLBanks)(FHLBanks)The Federal Home Loan Banks are 12 regional cooperative banks that U.S. lending institutions use to finance housing and economic development in their…
Federal Home Loan Mortgage Corporation (Freddie Mac)(Freddie Mac)A federally chartered corporation that purchases residential mortgages, securitizes them, and sells them to investors; this provides lenders with funds…
Federal Housing Administration (FHA)(FHA)The Federal Housing Administration (FHA) was established by the federal government in 1937 to make home ownership possible for more people and to…
Federal Housing Administration MortgageFederal Housing Administration (FHA) mortgages, which are made by private lenders, resemble conventional mortgages in many ways, but there are some…
Federal Housing Authority (FHA)(FHA)Also known as HUD (Department of Housing and Urban Development). The Federal Housing Authority is a federal entity that governs the FHA mortgage program…
federal income taxThe federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law…
Federal Insurance Contributions Act (FICA) Tax(FICA)Provides benefits for retired workers and their dependents as well as for disabled workers and their dependents. Also known as the Social Security tax.
Federal National Mortgage Association (Fannie Mae)(Fannie Mae)A federally chartered corporation that purchases residential mortgages and converts them into securities for sale to investors; by purchasing mortgages…
Federal Open Market Committee (FOMC)The Open Market Committee (FOMC) of the Federal Reserve Board meets eight times a year to evaluate the threat of inflation or recession.
Federal Policy FeeA flat charge that the policyholder must pay on each new or renewal policy to defray certain administrative expenses incurred in carrying out the National…
Federal Reserve BoardThe governing body of the Federal Reserve System (12 regional federal banks monitoring the commercial and savings banks in their regions).
Federal Reserve FedwireFedwire is an electronic transfer system owned and operated by the 12 Federal Reserve Banks that enables participants to move money from an account they…
Federal Reserve SystemThe central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system.
Federal savings bankA type of "savings and loan association." See also "savings and loan association."
Federal/State e-fileA program sponsored by the IRS in partnership with participating states that allows taxpayers to file federal and state income tax returns electronically…
FeeA charge or payment for products and services, a sum paid or charged for a privilege, for example, some financial institutions charge a monthly fee to…
Fee For ServiceWhen you're covered by fee-for-service health insurance, you pay your medical bills and file a claim for reimbursement from your insurance company.
fee simpleThe maximum form of ownership, with the right to occupy a property and sell it to a buyer at any time.
FenestrationThe arrangement, proportioning and design of windows in a building.
FestoonA carved ornament in the form of a band, loop, or wreath, suspended from two points; also called a “garland” or “swag”.
FHA Approved LendersFinancial institutions that have been approved by FHA for the origination and servicing of FHA-insured mortgages.
FHA mortgage loanA mortgage loan insured by the FHA. Since the 1930s, FHA has insured first mortgages enabling lenders to loan a very high percentage of the purchase price.
FHA-Insured LoanA loan that is insured by the Federal Housing Administration (FHA) of the U.S. Department of Housing and Urban Development (HUD).