Loan Fees: Also called loan origination fees. Costs charged by a lender for giving out a loan, may include points, tax service fees, an appraisal fee, etc.

 

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Loan Fees: Also called loan origination fees. Costs charged by a lender for giving out a loan, may include points, tax service fees, an appraisal fee, etc.

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

Policy Loan: A loan often made at a below-market interest rate from an insurance company to a policyholder that is secured by the cash surrender value of a life insurance policy.

Policyholder Loan Bonds: Packaged loans acquired by policyholders that are secured by the cash surrender value of the policies, and are offered by a broker/dealer as bonds.

Portfolio Loan: A loan originated and maintained by the lender and not sold in the secondary mortgage market.

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

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.

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

Participating Fees: The portion of total fees in a syndicated credit that go to the participating banks.