limit on loan
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Loan origination — is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application through disbursal of funds (or declining the application). Loan… … Wikipedia
Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
Loan Commitment — A loan amount that may be drawn down, or is due to be contractually funded in the future. Loan commitments are found at commercial banks and other lending institutions and consist of both open end and closed end loans. Open end loan commitments… … Investment dictionary
Loan Shark — A person or entity that charges borrowers interest above an established legal rate. Depending on where a person lives, lenders typically cannot charge more than 60% interest per annum. A loan shark, then, would be someone who illegally charged… … Investment dictionary
Negative Amortization Limit — A provision in certain loan contracts that limits the amount of negative amortization that can take place. A loan negatively amortizes when scheduled payments are made that are less than the interest charge due on the loan at the time. When a… … Investment dictionary
Conforming Loan Limit — The limit on the size of a mortgage which Fannie Mae and Freddie Mac will purchase and/or guarantee. The conforming loan limit is set annually by Fannie Mae’s and Freddie Mac’s federal regulator, The Office of Federal Housing… … Investment dictionary
Payday loan — A shop window in Falls Church, Virginia advertises payday loans. A payday loan (also called a paycheck advance) is a small, short term loan that is intended to cover a borrower s expenses until his or her next payday. The loans are also sometimes … Wikipedia
FHA loan — is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. The loan may be issued by federally qualified lenders.FHA loans have historically allowed lower income Americans to borrow money for the… … Wikipedia
Federal Perkins Loan — A Federal Perkins Loan, or Perkins Loan, is a need based student loan offered by the U.S. Department of Education to assist American college students in funding their post secondary education. The program is named after Carl D. Perkins, a former… … Wikipedia
Negatively Amortizing Loan — A loan with a payment structure that allows for a scheduled payment to be made where it is less than the interest charge on the loan at the time the scheduled payment is made. When a payment is made which is less than the interest charge at the… … Investment dictionary
Conforming Loan — A mortgage that is equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac s Federal regulator, The Office of Federal Housing Enterprise Oversight (OFHEO) and meets the funding criteria… … Investment dictionary
