Data Dictionary Services - by U.S. Business Reporter
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Industry Glossary
Data Dictionary Services
Industry Glossaries:
 
Savings Loan
                 
 Asset
Category
 

 

Savings Loan
 Certificate Account
Category
 

A savings deposit made for a fixed or specified minimum term which is usually subject to a penalty suc has a loss of interest for early withdrawal. This is also called a certificate of deposit (CD)

 

Savings Loan
 Clearinghouse
Category
 

An institution in which mutual claims and accounts are settled such as a reciprical exchange of checks and drafts between banks.

 

Savings Loan
 Comptroller of the Currency
Category
 

The chief U.S. regulator of banks that are national in scope. The president of the United States appoints the Comptroler of the Currenchy for a five year term, with Senate confirmation.

 

Savings Loan
 Contributed Capital
Category
 

The initial funding needed to charter a bank. This actsas a cushion aginst operating losses and as protection for depositor's money.

 

Savings Loan
 Core Deposits
Category
 

The total of demand deposits (checking accounts ) negociable order of withdrawal (NOW) accounts, and consumer time deposits (savings certificates and regular passbook savings accounts).

 

Savings Loan
 Disintermediation
Category
 

The flow of funds out of one class of financial intermediary into another financial market instrument.

 

Savings Loan
 Interest Rate Swap
Category
 

A contract for a specified time period betewwn two parties that agree to exchnge payments. One Partymakes payments based on a fixed interest rate , the other makes payments based on a floating rate.

 

Savings Loan
 Mortgage Bank
Category
 

A lender that originates mortgages for resale to investors , as opposed to a portfolio lender.

 

Savings Loan
 Mortgage Broker
Category
 

A firm or individual that brings a borrower and a lender together and receives a commission if a loan is transacted.

 

Savings Loan
 Multifamily Dwelling
Category
 

A rental property with more than four units.

 

Savings Loan
 Portfolio Lender
Category
 

A lender that retains the loans it originates as opposed to a mortgage bank.

 

Savings Loan
 Savings Bank
Category
 

A depository instituion that accepts custoemr deposits and invests its assets in commercial or residential mortgages and high grade securities. Most of these types of financial institutions are located in the Northeast of the United States.

 

Savings Loan
 Servicing
Category
 

The collection of payments and the management of operational procedures related to a mortgage.

 

Savings Loan