service of loan
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loan — money lent at interest.A lender makes a loan with the idea that it will be paid back as agreed and that interest will be paid for the use of the money. Glossary of Business Terms Temporary borrowing of a sum of money. If you borrow $1 million you … Financial and business terms
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
service — ser·vice 1 n 1: the act of delivering to or informing someone of a writ, summons, or other notice as prescribed by law after service of process see also notice by publication at notice, s … Law dictionary
Loan servicing — is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type of loan and the terms negotiated between the firm and the… … Wikipedia
loan — [lōn] n. [ME lone < ON lān (akin to OE læn, lending, loan, lænan, to lend) < IE base * leikw , to leave behind > L linquere, Gr leipen, Sans riṅákti, (he) leaves] 1. the act of lending, esp. to use for a short time [the loan of a pen] 2 … English World dictionary
loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… … Black's law dictionary
loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… … Black's law dictionary
Loan shark — A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence. They provide credit to those who are unwilling or unable to obtain it from more… … Wikipedia
service — ▪ I. service ser‧vice 1 [ˈsɜːvs ǁ ˈsɜːr ] noun 1. [countable usually plural] COMMERCE business that involves selling help and advice, or delivering goods etc for customers, rather than manufacturing goods: • He charged a £600,000 fee for… … Financial and business terms
Loan Constant — An interest factor used to calculate the debt service of a loan. The loan constant, when multiplied by the original loan principal, gives the dollar amount of the periodic payment. The loan constant can be used to compare the true cost of… … Investment dictionary
