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Collection
Collection When a borrower falls behind, the lender contacts them in an effort to bring the loan current.
RELATED TERMS--------------------------------------
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
Collar beam
The structural element that connects roof rafters.
Collateral
In a home loan, the property is the collateral. The borrower risks losing the property if the loan is not repaid according to the terms of the mortgage or deed of trust.
Collateral security
Additional security that a borrower supplies to obtain a loan.
Collateralized mortgage obligation
Debt obligations that are collateralized by and have payments linked to a pool of mortgages.
Collusion
The action of two or more people to break the law.
PREVIOUS AND NEXT TERMS--------------------------------------
Co-investment program
An investment partnership or insurance company separate account that enables two or more pension funds to co-invest their capital in a single property or portfolio of properties.
Collar beam
The structural element that connects roof rafters.
Collateral
In a home loan, the property is the collateral. The borrower risks losing the property if the loan is not repaid according to the terms of the mortgage or deed of trust.
Collateral security
Additional security that a borrower supplies to obtain a loan.
Collateralized mortgage obligation
Debt obligations that are collateralized by and have payments linked to a pool of mortgages.
Collection
Collusion
The action of two or more people to break the law.
Colonia
Unincorporated communities along the U.S.-Mexico border.
Column
A slender upright structure that consists of a base, a round or square shaft and a capital.
Column footing
The support base for a load-bearing column. The footing is usually made of reinforced concrete.
Co-maker
Equally responsible for repayment as the borrower.
This dictionary contains 6433 terms. |
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