Related Words

Bullet Loan: A loan that includes a call date earlier than its normal amortization period, also called a renegotiable rate loan or a rollover loan.

Rollover Loan: A loan that includes a call date earlier than its normal amortization period, also called a renegotiable rate loan or a bullet loan.

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.

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

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

OTC Bulletin Board (OTCBB): During the trading day, the electronic OTC bulletin board (OTCBB) provides continuously updated real-time bid and ask prices, volume information, and last-sale prices. The OTC lists this inf . . . View Full Definition

OTC Bulletin Board: An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.

Nonrecourse Loans: Farmers or processors participating in government commodity programs may pledge certain stored commodities as collateral and obtain a loan from the CCC at a commodity-specific, per-unit loan . . . View Full Definition

Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home.

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.