Personal Injury Protection (PIP)(PIP)This is a mandatory no fault coverage for automobile insurance providing benefits including, but not limited to, medical expenses, loss of income…
Personal interest incomeInterest income received by persons from all sources; includes both monetary and imputed interest.
Personal Investment Corporation (PIC)A PIC is a term used in the banking industry to refer to an IBC. PICs are generally created for the private bank's client in order to hold the client's…
Personal outlaysThe sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments.
Personal propertyAll tangible property (other than land) that is either temporary or movable in some way, such as furniture, jewelry, electronics, etc.
Personal ResidenceAny real property used exclusively as a private dwelling by the reporting individual or his spouse, which is not rented out during any portion of the…
Personal savingPersonal income less the sum of personal outlays and personal current taxes.
Personal Savings AccountAny form of deposit in a bank, savings and loan association, credit union or similar financial institution (5 C.F.R. §2634.301(c)(2)).
PersonsIn the national income and product accounts (NIPAs), persons consist of individuals, nonprofit institutions that primarily serve individuals, private…
Pest InspectionRequired for FHA loans in some areas to determine if there is an infestation of wood-boring insects or other pests in the home.
PetitionPetition refers to the Form I-129 that is filed with USCIS by a prospective H-1B employer seeking approval to employ an H-1B worker and its accompanying…
Petition packagePetition package refers to the petition Form I-129, accompanying letter in support of the petition, LCA, and any other documentation about the prospective…
Phantom gainsPhantom gains are capital gains on which you owe tax even if your actual return on the investment is negative.
PhishingWhen internet fraudsters impersonate a business in an attempt to trick you into giving out your personal information, such as usernames, passwords, and…
Pier1. A column designed to support concentrated load. 2. A member, usually in the form of a thickened section, which forms an integral part of a wall…
PiggybackA broker who piggybacks acts illegally by buying or selling a security for his or her own account after - and presumably because - a client has authorized…
Piggyback loanA combination of the construction loan with the permanent loan commitment. Also, one mortgage held by more than one lender, with one lender having…
PilasterAn engaged pier or pillar, often with capital and base.
Pink SheetsPink Sheets LLC is a centralized financial information network. It provides current prices and other information in both print and electronic formats to…
PITICommon acronym for principal, interest, taxes, and insurance—used when describing the monthly charges on a mortgage.
PITI ReservesA cash amount that a borrower has available after making a down payment and paying closing costs for the purchase of a home.
PITIOAbbreviation for p rincipal, i nterest, t axes, i nsurance and o ther monthly non-housing costs.
Place of employmentPlace of employment means the worksite or physical location where the work actually is performed.
Plan administratorA plan administrator is the person or company your employer selects to manage its retirement savings plan.
Plan participantIf 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 providerThe 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 sponsorThe 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'…
PlinthA platform base supporting a column or pilaster.
PMIPrivate Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with…
pointAn 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)(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…
PointingThe treatment of joints between bricks, stone, or other masonry components by filling with mortar; also, called tuck-pointing
PointsThe 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 FeesFees 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.
PolicyThe contract form issued by the company to explain the coverage provided. It is a legal document.
Policy LoanUnder 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 ownerThe person or party who owns an individual insurance policy. This person may be the insured, the beneficiary, or another person.
Policy periodThe amount of time an insurance contract or policy provides coverage.
Policyholder or policy ownerIf you own an insurance contract or policy, you are a policyholder, also known as the policy owner.
PoolingCombining of assets of different entities, i.e., two or more counties, for efficient investment purposes while maintaining separate accounting trails.
PortabilityPortability 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 benefitsBenefits or accumulated assets that you can take with you when you leave your employer or switch jobs are described as portable.
portfolioAll the securities which an investment company or an individual investor owns.
Portfolio managerA portfolio manager is responsible for overseeing a collection of investments, either for an institution - such as a mutual fund, brokerage firm…
Portfolio turnoverPortfolio 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…
PorticoA small porch composed of a roof supported by columns, often found in front of a doorway.
Positive yield curveA 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 BuildingAny building in the Riverdale Historic District built on or after January 1, 1940.
Post-FIRM BuildingA 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 processingEach securities transaction goes through post-trade processing during which the details of the trade are compared, cleared, and settled.
Potentially abusive tax shelterAny 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)(PRP)The Superfund law (CERCLA) allows EPA to respond to releases or threatened releases of hazardous substances into the environment.
Power of AttorneyA written instrument which authorizes one person to act as another's agent or attorney.
Pre-1940 BuildingAny building in the Riverdale Historic District built, in whole or in part, prior to January 1, 1940 including buildings which have undergone subsequent…
Pre-ApprovalA 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 LetterA 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 ConditionA pre-existing condition is a health problem that you already have when you apply for insurance.
Pre-FIRM BuildingA building for which construction or substantial improvement occurred on or before December 31, 1974, or before the effective date of an initial Flood…
Pre-foreclosuresale 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 SaleA 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-paymentThe payment of a debt before it actually becomes due.
Pre-QualificationA preliminary assessment by a lender of the amount it will lend to a potential homebuyer.
Pre-Qualification LetterA 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-QualifyA lender informally determines the maximum amount an individual is eligible to borrow. This is not a guaranty of a loan.
Pre-TaxAny type of contribution or compensation deducted from gross pay before earnings are taxed. Commonly referred to as deferred.
PreapprovalWhen you're preapproved for a mortgage, the lender guarantees in advance the maximum you can borrow, provided your financial situation doesn't change…
Preauthorized PaymentA 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 LendingAbusive lending practices that include making mortgage loans to people who do not have the income to repay them or repeatedly refinancing loans, charging…
Predictive VariablesThe variables that are part of the formula comprising elements of a credit-scoring model.
Preferred Provider Organization (PPO)(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)(PRP)A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums.
preferred sharesShares that carry dividends at fixed rates which must be paid before any dividends are paid to common shareholders.
Preferred StockSome 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)(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 estimateThe second estimate of gross domestic product (GDP) and its components for a quarter.
Premium credit cardA credit card that offers high credit limits and often has additional features like product warranties, travel insurance, or emergency services.
Premium Finance CompanyA lending institution that finances automobile insurance premium for a fee.
Prepaid college savings planPrepaid savings plans are investment accounts in which an individual chooses among offered investment options, usually mutual funds.
Prepaid college tuition planAn education savings account or plan operated by a state or educational institution designed to help families accrue funds for future college costs.
PrepaymentThe payment of a debt before it actually becomes due.
Prepayment ClauseA clause in a mortgage allowing the mortgagor to pay off part or all of the unpaid debt before it becomes due.
Prepayment PenaltyA 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 clauseA 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…
PrequalificationWhen you prequalify for a mortgage, the lender calculates the approximate amount you'd be able to borrow, based on your current income and debt.
PrerefundingPrerefunding may occur when a corporation plans to redeem a callable bond before its maturity date.