Mutual Mortgage Insurance: Insurance premiums and other specified FHA revenues are paid into one of four FHA funds. Losses due to foreclosure are met from these funds.

 

Related Words

Mutual Mortgage Insurance: Insurance premiums and other specified FHA revenues are paid into one of four FHA funds. Losses due to foreclosure are met from these funds.

Mutual Consent: A meeting of the minds, a mutual assent of the parties to the formation of the contract.

Mutual Compensation: The concept that carriers must pay when they terminate traffic on the networks of carriers with which they are interconnected.

Mutual Exclusion Doctrine: The tenet that rules municipal bond interest is federal tax-free. In return for this federal tax exemption, states and localities cannot tax interest generated by federal government securities.

Mutual Fund: A mutual fund is a professionally managed investment product that sells shares to investors and pools the capital it raises to purchase investments. A fund typically buys a diversified portf . . . View Full Definition

Mutual Fund Custodian: A commercial bank or trust company that holds securities owned by a mutual fund and sometimes acts as transfer agent for the mutual fund.

Mutual Fund Cash-To-Assets Ratio: The cash instruments portion of a mutual fund as a proportion of its total assets.

Mutual Company: A mutual company is a privately held company owned by its policyholders, depositors, or other customers. A share of the profits is distributed as dividends, allocated in proportion to the am . . . View Full Definition

Mutual Association: A savings and loan association organized as a cooperative. Members purchase shares, vote on association affairs, and receive income in the form of dividends.

Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges.