FICO ScoreFICO is an abbreviation for Fair Isaac Corporation and refers to a person's credit score based on credit history.
FICOî scoreCreated by the Fair Isaac Corporation, FICOî is the best-known credit scoring system in the US.
Fictitious InvoicesIt is common practice in the offshore industry to issue false invoices as a means to transfer money to an offshore jurisdiction, while at the same time…
FiduciaryUndertaking to act as executor, administrator, guardian, conservator, or trustee for a family trust, authorized trust, or testamentary trust, or receiver…
field of membershipThe field of membership of a Connecticut Credit Union is limited to: a) a single common bond membership of occupation or association, b) a multiple common…
fifteen-year mortgageA loan with a term of 15 years. Although the monthly payment on a 15-year mortgage is higher than that of a 30-year mortgage, the amount of interest paid…
file a returnTo mail or otherwise transmit to an IRS service center the taxpayer's information, in specified format, about income and tax liability.
File and UseResidential property rates utilize a system called “file and use.” Under this system, insurance companies file their rates with the Texas Department…
Filing DateThis is the date a filer submits a financial disclosure report to the supervisor or senior legal counsel for review, usually the date the filer eSigns the…
filing statusDetermines the rate at which income is taxed. The five filing statuses are: single, married filing a joint return, married filing a separate return, head…
Fill or kill (FOK)If an investor places an FOK order, it means the broker must cancel the order if it can't be filled immediately.
Final use(s)Final-demand components for goods and services, which consist of personal consumption expenditures (PCE); gross private fixed investment; change in…
Finance ChargeThe total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge.
Finance companyA company that makes loans primarily for consumer purchases.
Financial account (international)Record of transactions between U.S. residents and foreign residents resulting in changes in the level of international claims or liabilities, such as in…
Financial Accounting Standards Board (FASB)The Financial Accounting Standards Board (FASB) is an independent, self-regulatory board that establishes and interprets generally accepted accounting…
Financial assetsDeposits, stocks, bonds, notes, currencies, and other instruments that possess value and give rise to claims, liabilities, or equity investment.
Financial futureWhen a futures contract is linked to a financial product, such as a stock index, Treasury notes, or a currency, the contract is described as a financial…
Financial institutionAny institution that collects money and puts it into assets such as stocks, bonds, bank deposits, or loans is considered a financial institution.
Financial instrumentA financial instrument is a physical or electronic document that has intrinsic monetary value or transfers value.
Financial ModelsFinancial models are computer simulations designed to forecast the financial performance of a company or project or estimate the impact of key parameters…
Financial Performance Report (FPR)(FPR)A report providing a financial summary for a credit union, including assets, liabilities & capital, and income & expense.
Financial planA financial plan is a document that describes your current financial status, your financial goals and when you want to achieve them, and strategies to…
Financial plannerA financial planner evaluates your personal finances and helps you develop a financial plan to meet both your immediate needs and your long-term goals.
Financial pyramidMany investors structure their portfolios in the form of a financial pyramid. The base of the pyramid is made up of nonvolatile, liquid assets.
financial recordsSpending and income records and items to keep for tax purposes, including paycheck stubs, statements of interest or dividends earned, and records of…
Financial Regulatory AgencyAn organization authorized by statute for ensuring the safe and sound operation of financial institutions chartered to conduct business under that…
Financial SecrecyThis term refers to the confidentiality afforded to financial transactions either by enactment of law or by other means.
FinialThe crowning ornament of a pointed element, such as a spire.
FinishThe visual characteristics including color, texture and reflectivity of all exterior materials.
Fire insuranceSame or similar to "property insurance." See also "property insurance."
Firm quoteA firm quote includes a bid and ask price at which a market maker is willing to trade a specific quantity - 100 shares of stock, for example.
First MortgageA real estate loan which is in a first lien position, taking priority over all other liens.
first mortgage loanA first mortgage loan means a loan or an extension of credit, including, but not limited to, an extension of credit pursuant to a contract or an assigned…
First PartyThe policyholder (insured) in an insurance contract.
First Time Home BuyerA person with no ownership interest in a principal residence during the three-year period preceding the purchase of the security property.
First-party claimA claim filed by an insured against his or her own insurance policy.
Fisher ideal price indexThe geometric mean of the Laspeyres and Paasche price indexes. The Fisher index is superior to either the Laspeyres or the Paasche index if the structure…
Fixed annuityA fixed annuity is a contract that allows you to accumulate earnings at a fixed rate during a build-up period.
Fixed assetsProduced assets that are used repeatedly, or continuously, in processes of production for an extended period of time.
Fixed ExpensesPayments that do not vary from month to month.
Fixed IncomeA security that pays a specific interest rate.
fixed income investmentsInvestments that generate a fixed amount of income that does not vary over the life of the investment.
Fixed Income SecurityA security such as a bond that pays a specified cash flow over a specific period of time.
Fixed investmentConsists of purchases of residential and nonresidential structures and of equipment and software by private businesses, by nonprofit institutions, and by…
Fixed payment mortgageA loan secured by real property which features a periodic payment of interest and principal that is constant over the term of the loan.
Fixed Rate LoanThe interest rate and the payment remain the same over the life of the loan. The consumer makes equal monthly payments of principal and interest until the…
Fixed Rate MortgageA mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
Fixed-income investmentFixed-income investments typically pay interest or dividends on a regular schedule and may promise to return your principal at maturity, though that…
Fixed-Period Adjustable-Rate MortgageAn adjustable-rate mortgage (ARM) that offers a fixed rate for an initial period, typically three to ten years, and then adjusts every six months…
Fixed-rate APRAn APR set at a certain percent that cannot change during the period of time outlined in your credit card agreement.
Fixed-Rate Mortgage (FRM)(FRM)a mortgage loan with a fixed interest rate that remains the same for the life of the loan.
FixturePersonal property permanently attached to real estate or real property that becomes a part of the real estate.
FlagsFlags identify missing or incomplete information on a financial disclosure report in FDM.
FlashingStrips of sheet metal bent to fit the angle between any two roof surfaces or between the roof and any projection, such as a chimney.
Flat taxA flat tax, also known as a regressive tax, applies to everyone at the same rate, as a sales tax does.
Flemish bondA pattern of brickwork in which each course consists of headers and stretchers laid alternately; each header is centered between the stretcher above and…
Flexible payment mortgage (FPM)A home-purchase loan plan that allows the borrower to pay interest-only for the first several years of the term.
Flexible spending accountSome employers offer flexible spending accounts (FSA), sometimes called cafeteria plans, as part of their employee benefits package.
Float1) The amount of uncollected funds represented by checks in the possession of one bank but drawn on other banks.
FloaterAdditional coverage for personal property such as jewelry, artwork, or antiques not otherwise included in the homeowners policy, or included for a nominal…
FloatingThe process of an applicant deciding against locking-in an interest rate at the time of application and instead electing to float with the market until a…
Floating an issueWhen a corporation or public agency offers new stocks or bonds to the public, making the offering is called floating an issue.
Floating rateA debt security or corporate preferred stock whose interest rate is adjusted periodically to reflect changing money market rates is known as a floating…
Floating sharesFloating shares are shares of a public corporation that are available for trading in a stock market.
FloodA general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least…
Flood Certification FeeA fee charged by independent mapping firms to identify properties located in areas designated as flood zones.
Flood Hazard Boundary Map (FHBM)(FHBM)Official map of a community issued by the Federal Insurance Administrator, where the boundaries of the flood, mudflow, and related erosion areas having…
Flood InsuranceFlood insurance protects against water from an overflowing river or a hurricane's tidal surge and also covers damage from water that builds up during…
Flood Insurance Rate Map (FIRM)(FIRM)Official map of a community on which the Mitigation Division Administrator has delineated both the special hazard areas and the risk premium zones…
Flood PlainA strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood.
Flood Zone (Zone)A geographical area shown on a Flood Hazard Boundary Map or a Flood Insurance Rate Map that reflects the severity or type of flooding in the area.
FloodplainAny land area susceptible to being inundated by floodwaters from any source.
Floodplain ManagementThe operation of an overall program of corrective and preventive measures for reducing flood damage, including but not limited to, emergency preparedness…
Floor brokerFloor brokers at a securities or commodities exchange handle client orders to buy or sell through a process known as a double action auction, in which…
Floor PlanA scaled drawing showing the horizontal arrangement of one level of the building that typically indicates walls, doors and dimensions
Floor traderUnlike floor brokers who fill client orders, floor traders buy and sell stocks or commodities for their own accounts on the floor of an exchange.
FoliateDecorative leafage, often applied to capitals or moldings.
For Sale By Owner (FSBO)(FSBO)Indicative of a real estate transaction in which the seller is not represented by a real estate broker.
ForbearanceA temporary period of time during which a regular monthly mortgage payment is reduced or suspended.
ForeclosureA legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.
Foreclosure Preventionsteps by which the servicer works with the homeowner to find a permanent solution to resolve an existing or impending loan delinquency.
Foreign affiliateA foreign business enterprise in which there is U.S. direct investment-that is, in which a U.S.
foreign banks with state branchesA banking organization that is headquartered outside the United States, but wants a presence in the United States, most commonly establishes a branch or…
Foreign currency transactionA foreign currency transaction is a purchase and/or cash advance that you make in a foreign currency, i.e. not U.S. dollars.
Foreign exchange (FOREX)Any type of financial instrument that is used to make payments between countries is considered foreign exchange.
Foreign parentThe first person, or entity, outside the United States in a U.S. affiliate's ownership chain that has a direct investment interest in the affiliate.