Related Words

Project Loan Certificate (PLC): A primary program of Ginnie Mae for securitizing FHA-insured and coinsured multifamily, hospital, and nursing home loans.

Participation Certificates: Certificates issued by Freddie Mac backed by pools of mortgages.

Participation Certificates (PC): Used in the context of general equities. Investments representing an interest in a pool of funds or in other instruments, such as foreign securities, that allow participation in the rise or . . . View Full Definition

Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.

Piggyback Loans: A loan divided into two parts with one lender taking a secondary security position.

Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repay . . . View Full Definition

Parallel Loan: A process whereby two companies in different countries borrow each other's currency for a specific period of time, and repay the other's currency at an agreed maturity for the purpose of red . . . View Full Definition

Package Loan: A real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances.

Nonpurpose Loan: A loan with securities pledged as collateral, but which is not to be used in securities trading or transactions.

Nonproductive Loan: A loan that increases spending power, but is used in business that does not directly increase the economy's output, such as a leveraged buyout loan.