Related Words

Home Equity Loan: A loan made to a current homeowner that is secured by the equity in the home.

Negative Equity: A situation where the purchaser of a property has taken out a mortgage and some time after the purchase, the value of the property falls below the mortgage amount.

Multifamily Loans: Loans usually represented by conventional mortgages on multifamily rental apartments.

Net Assets (Owners Equity): The ownership interest in the assets of an entity: equal total assets minus total liabilities.

Multicurrency Loans: Give the borrower the flexibility of drawing a loan in different currencies.

No Loan, No Commission: A listing agreement requiring that escrow be closed and title transferred before an agent is entitled to a commission.

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.

Non-Conforming Loan: A mortgage loan that does not meet Fannie Mae and Freddie Mac underwriting guidelines. Non-conforming loans are available as both fixed and adjustable rate mortgages.

Multi-Lender Rule Loans: Loans involving 10 or fewer investors regulated by the Corporation Commissioner.