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One-year adjustable
One-year adjustable Mortgage whose annual rate changes yearly; the rate is usually based on movements of a published index plus a specified margin, chosen by the lender.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Annual
Any kind of plant that must be planted every year.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Index
A measurement used by lenders to determine changes to the Interest rate charged on an adjustable rate mortgage.
Margin
An amount the lender adds to an index to determine the interest rate on an adjustable rate mortgage.
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
SIMILAR TERMS--------------------------------------
One-Year Treasury Constant Maturity
An index published by the Federal Reserve Board based on the average yield of a range of Treasury securities, all adjusted to the equivalent of a one-year maturity.
PREVIOUS AND NEXT TERMS--------------------------------------
Oil and gas lease
A grant of the sole and exclusive right to extract oil and-or gas from beneath the surface of land.
Ombudsman
The independent person responsible for investigating complaints made about member institutions.
One hundred percent commission plan
Some firms have adopted a 100 percent commission plan. Salespersons in these offices pay a monthly service charge to their brokers to cover the costs of office space, telephones and supervision in return for keeping 100 percent of the commissions from the sales they negotiate.
One stop shopping
An arrangement where settlement and service providers are all available through the broker.
One year treasury spot index
This index is the weekly average interest paid by the u.s. government on funds borrowed for one year. It changes more slowly than the cd index.
One-year adjustable
One-Year Treasury Constant Maturity
An index published by the Federal Reserve Board based on the average yield of a range of Treasury securities, all adjusted to the equivalent of a one-year maturity.
Online banking
Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution’s web site on the Internet.
Online real estate listings
Properties listed for sale on the Internet.
Open agency agreement
When the vendor of the property allows any number of agents to market the vendor's property for sale.
Open buyer agency agreement
This agreement is a nonexclusive agency contract between a broker and a buyer. It permits the buyer to enter into similar agreements with an unlimited number of brokers.
This dictionary contains 6433 terms. |
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