adjustment date
21Out of date — Out Out (out), adv. [OE. out, ut, oute, ute, AS. [=u]t, and [=u]te, [=u]tan, fr. [=u]t; akin to D. uit, OS. [=u]t, G. aus, OHG. [=u]z, Icel. [=u]t, Sw. ut, Dan. ud, Goth. ut, Skr. ud. [root]198. Cf. {About}, {But}, prep., {Carouse}, {Utter}, a.]… …
22Structural Adjustment — A type of credit facility that helps developing countries become more economically self sufficient. Structural adjustments are intended to reduce the current account debt of a debtor nation, as opposed to financing a new project. They do this by… …
23Periodic Interest Rate Cap — A part of an interest rate cap structure on loans and mortgages. The periodic interest rate cap limits the amount by which the interest rate on an adjustable rate loan can adjust at specified adjustment dates. For example, an adjustable rate… …
24IBEX 35 — Infobox Index name = IBEX 35 foundation = 1992 operator = Bolsas y Mercados Españoles exchanges = Bolsa de Madrid constituents = 35 cap level = Large cap mc € 527.6 billion (2007) [cite web url=http://www.ibex35.com/findiai/historico/i20071228.pdf… …
25Interest Rate Cap Structure — Limits to the interest rate on an adjustable rate loan frequently associated with a mortgage. There are several different types of interest rate cap structures including an initial, periodic and lifetime interest rate cap structure. The initial… …
26Initial Interest Rate Cap — The maximum amount the interest rate on an adjustable rate loan can adjust on its first scheduled adjustment date. This is part of the interest rate cap structure on the loan, usually a mortgage, which helps to give borrowers some protection from …
27two-step mortgage — USA A type of adjustable rate mortgage (ARM) that involves a fixed interest rate for a specified period of time (usually five or seven years) followed by an adjustment to the interest rate tied to current market rates. At the adjustment date,… …
28Two-Step Mortgage — A mortgage that offers an initial fixed interest rate for a period of time (usually 5 or 7 years) after which, at a predetermined date, the interest rate adjusts according to current market rates. At the adjustment date, the borrower might have… …
29Indexed ARM — An adjustable rate mortgage on which the interest rate adjusts periodically according to an underlying benchmark index plus a margin. An adjustable rate mortgage contract states which index will be used, how often the interest rate will adjust… …
30Lifetime Cap — The maximum interest rate on an adjustable rate mortgage (ARM) that may be charged at any point over the life of the mortgage. The lifetime cap is usually expressed as a percentage increase from an initial interest rate. For example, if a fixed… …
