VarianceA special exemption of a zoning law to allow the property to be used in a manner different from an existing law.
Venture capital (VC)Venture capital is financing provided by wealthy independent investors, banks, and partnerships to help new businesses get started, reach the next level…
vertical equityThe concept that people in different income groups should pay different rates of taxes or different percentages of their incomes as taxes.
VestedA point in time when you may withdraw funds from an investment account, such as a retirement account, without penalty.
Vested InterestThe concept of a vested interest is extremely important--if an interest is not vested, a filer need not report it and will not have a financial interest…
VestingIf you are part of an employer pension plan or participate in an employer sponsored retirement plan, such as a 401(k), you become fully vested - or…
Veterans Administration (VA)The federal agency responsible for the VA loan guaranty program as well as other services for eligible veterans.
Viatical settlementTechnically speaking, a viatical settlement occurs when the holder of a life insurance policy sells the policy to a third party before the original owner…
Virtual bankA virtual bank offers some or all of the same types of accounts and services that traditional bricks-and-mortar banks do, but virtual banks exist only…
VolatilityThe term volatility indicates how much and how quickly the value of an investment, market, or market sector changes.
VolumeVolume is the number of shares traded in a company's stock or in an entire market over a specified period, typically a day.
voluntary complianceA system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly, and file…
Volunteer Income Tax Assistance (VITA)(VITA)This provides free income tax return preparation for certain taxpayers. The VITA program assists taxpayers who have limited or moderate incomes, have…
VoluteA carved spiral form in classical architecture; often used in pairs as in the capitals of Ionic columns.
Voting rightInvestors who own shares of a common stock or shares in a mutual fund typically have voting rights, which allow them to participate in the election of…
Vulture fundLike the scavenging bird of prey that lends its name to the fund, a vulture fund seeks out depressed or endangered investments.
Wage and Hour Division (WHD)(WHD)Wage and Hour Division (WHD) is the agency of the U.S. Department of Labor, responsible for enforcing the LCA attestations, as well as promoting and…
Wage and salary accruals and disbursementsThe monetary remuneration of employees, including the compensation of corporate officers; commissions, tips, and bonuses; voluntary employee contributions…
Wage rateWage rate means the remuneration (exclusive of fringe benefits) to be paid, stated in terms of amount per hour, day, month, or year (see definition of…
wagesCompensation received by employees for services performed. Usually, wages are computed by multiplying an hourly pay rate by the number of hours worked.
Waiting PeriodThe time between the date of application and the policy effective date.
WaiverUnder the conflict of interest statute, 18 U.S.C. § 208, a waiver permits an employee to participate in specified Government matters which would…
Waiver Of PremiumA provision that sets certain conditions under which an insurance policy would be kept in full force by the company without the payment of premiums.
Walk ThroughAn inspection of a property by the prospective buyer prior to closing on a mortgage.
WalkthroughA common clause in a sales contract that allows the buyer to examine the property being purchased at a specified time immediately before the closing, for…
warrantA certificate giving the holder the right to purchase a security (such as a stock) at a set price within a specified period of time.
WarrantiesWritten guarantees of the quality of a product and the promise to repair or replace defective parts free of charge.
Warranty DeedA document protecting a homebuyer against any and all claims to the property.
Wash saleWhen you purchase and then sell or sell and then repurchase the same security or a substantially similar security within 30 days, the double transaction…
Watercraft EndorsementApplies to small motorboats and sailboats and broadens your personal liability and medical payments coverage on them.
Wave Height AdjustmentA measurement that is added to the base flood elevation for V Zones shown on the Flood Insurance Rate Map published prior to 1981.
Weather derivativeA weather derivative is a futures contract - or options on that futures contract - where the underlying commodity is a weather index.
Weighted Average CouponThe weighted average of the stated interest rates on the underlying loans, weighted by the principal balances of the loans.
Weighted Average Life (WAL)(WAL)average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding.
Weighted stock indexIn weighted stock indexes, price changes in some stocks have a much greater impact than price changes in others in computing the direction of the overall…
Whisper numberA whisper number is an unofficial earnings estimate for a particular company that a stock analyst shares with clients to supplement the official published…
White knightA corporation that is the target of a hostile takeover sometimes seeks out a white knight that comes to the rescue by making an offer to acquire the…
Whole life insuranceA whole life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums.
wholesale bankingBanking services offered to large corporate and institutional customers, such as pension funds and government agencies are considered wholesale banking.
Widely DiversifiedWidely diversified is a central element of the definition of an Excepted Investment Fund and of a Qualified Trust.
WillA will is a legal document you use to transfer assets you have accumulated during your lifetime to the people and institutions you want to have them after…
WillfulWillful means a knowing failure or a reckless disregard with respect to whether the employer's conduct was contrary to section 212(n)(1)(A)(i) or (ii) of…
Willful violatorWillful violator is an H-1B employer who, by final agency action of the Department of Labor or Department of Justice, has been found to have willfully…
Wire houseNational brokerage firms with multiple branches were, in the past, linked by private telephone or other telecommunications networks that enabled them to…
Wire roomWhen brokerage firm orders to buy and sell were handled manually, the back office of the firm was called the wire room.
Wire TransferA transfer of funds from one point to another by wire or network such the Federal Reserve Wire Network (also known as FedWire).
WithdrawalA withdrawal is money you take out of your banking, brokerage firm, or other accounts.
WithholdingWithholding is the amount that employers subtract from their employees' gross pay for a variety of taxes and benefits, including Social Security and…
Work Outa way to resolve or restructure a loan to prevent a homeowner from going into foreclosure through a loan modification, forbearance or short sale.
WorkdayWorkday shall mean any day on which an H-1B nonimmigrant performs any work at any worksite(s) within the area of short-term placement or assignment.
Workers’ CompensationA program through which an employee may receive compensation in the event of an accidental, employment-related injury.
Working capitalWorking capital is the money that allows a corporation to function by providing cash to pay the bills and keep operations humming.
Working conditionsWorking conditions include matters such as hours, shifts, vacation periods, and benefits such as seniority-based preferences for training programs and…
Workout arrangementThis is a special arrangement between us and you in which we agree to a temporary reduction in applicable interest rates or fees in return for your…
WorksiteWorksite means the place of employment or physical location where the work actually is performed.
World BankFormally known as the International Bank for Reconstruction and Development (IBRD), the World Bank was established in 1944 to aid Europe and Asia after…
World fundUS-based mutual funds that invest in securities from a number of countries, including the US, are known as world funds or global funds.
World Trade Organization (WTO)The WTO was formed in 1995 to enforce the regulations established by the General Agreement on Tariffs and Trade (GATT) and several other international…
Wrap accountA wrap account is a professionally managed investment plan in which all expenses, including brokerage commissions, management fees, and administrative…
Wrap upThe last stage of the disclosure editing process which explains if the disclosure report is ready to be submitted and allows the Filer to submit the…
Wraparound mortgageA loan arrangement in which an existing loan is retained and an additional loan is combined with the existing loan.
Write Your Own (WYO) Program(WYO)A cooperative undertaking of the insurance industry and FEMA begun in October 1983.
WriterIn the options market, a writer is someone who sells put or call options, an activity known as writing a call or writing a put.
Wrought IronIron that is worked by being forged or hammered.
XenocurrencyXenocurrency is currency that trades outside of its own borders.
Yankee bondYankee bonds are bonds issued in dollars in the United States by overseas companies and governments.
YieldYield is most commonly associated with a money market fund's return. "Current Yield" is based on daily return, "Effective Yield" on the annual compounded…
Yield CurveA graph showing the term structure of interest rates by plotting the yields of all bonds of the same quality with maturities ranging from the shortest to…
Yield to MaturityA measure of the average rate of return that will be earned on a bond if held to maturity.
Yield to maturity (YTM)Yield to maturity is the most precise measure of a bond's anticipated return and determines its current market price.
Youthful DriverMost insurance companies charge higher rates for young drivers between the ages of 16 and 25.
Zacks Investment ResearchThis Chicago-based company tracks changes in earnings estimates, as well as buy, sell, and hold recommendations for approximately 5,000 stocks.
Zero sumA zero-sum market is one in which one investor's profit mirrors another investor's loss. For every dollar one person makes, someone else loses a dollar.
Zero-coupon bondA corporate or municipal debt security sold at a deep discount to its face value that does not pay periodic interest.
Zero-coupon convertible bondA zero-coupon convertible bond, like other convertible bonds, can be converted into stock in the issuing corporation if the stock reaches the trigger…
ZoneA 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.
ZoningThe ability of local governments to specify the use of private property in order to control development within designated areas of land.
90 Days DelinquentThe percentage of loans underlying a Security that are 90 to 180 days behind on their scheduled payments.
Asset Management Estate (AME)(AME)Estate that holds the assets of a failed institution. Commonly administered by NCUA's Asset Management and Assistance Center, to which the NCUA Board has…
Asset-Backed Security (ABS)(ABS)A security whose value and payments are derived from and collateralized (or backed) by the expected cash flows of pools of income-generating assets.
Atl-A LoansLoans extended to borrowers who have a high credit quality but whose characteristics fall outside the margins of Conforming Loan guidelines, such as…
CollateralProperties or assets that are offered to secure a loan and become subject to seizure upon default.
Medium Term Note (MTN)(MTN)Notes issued in the capital markets in late 2009 by US Central Federal Credit Union and Western Corporate Federal Credit Union.
Non-Agency RMBSA type of Mortgage-Backed Security issued by an entity other than a government sponsored enterprise (Fannie Mae / Freddie Mac) that does not have a…
Put OptionA contractual provision conferring the right, but not the obligation, to sell an asset back to a counterparty (in the case of a security, the original…