Par value — Par value, in finance and accounting, means stated value or face value. From this comes the expressions at par (at the par value), over par (over par value) and under par (under par value). The term par value has several meanings depending on… … Wikipedia
Mortgage-backed security — Securities Securities Bond Stock Investment fund Derivative Structured finance Agency security … Wikipedia
Mortgage industry of Denmark — The mortgage industry of Denmark has proved very effective in providing borrowers with flexible and transparent loans on conditions close to the funding conditions of capital market players. Simultaneously, the covered mortgage bonds[1] transfer… … Wikipedia
rate — Synonyms and related words: VAT, abuse, account, ad valorem duty, admonish, alcohol tax, alphabetize, amount, amusement tax, analyze, antecede, anyhow, anyway, apportion, appraise, appreciate, arithmetical proportion, arrange, assay, assess,… … Moby Thesaurus
par line — The parity price at which the yield of a mortgage backed bond equals its net coupon rate. Because of the delay days, the par line is not 100 but instead is somewhat lower. Par line is not constant for different coupon rates at different delay… … Financial and business terms
US mortgage terminology — This page aims to explain specific US mortgage terminology to readers.Mortgage types*Adjustable rate mortgage or ARM A mortgage where the interest rate adjusts relative to a specified index + margin. Eg. COFI, LIBOR etc. *Hybrid ARM An adjustable … Wikipedia
Collateralized mortgage obligation — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond … Wikipedia
Commitment rate — Commitment rates are the rates at which mortgage loans can be sold to another entity, such as Fannie Mae and Freddie Mac or other lenders. The Fannie Mae Commitment Rate is the rate that Fannie requires for a par priced loan. From the commitment… … Wikipedia
Floating rate note — Floating rate notes (FRNs) are bonds that have a variable coupon, equal to a money market reference rate, like LIBOR or federal funds rate, plus a spread. The spread is a rate that remains constant. Almost all FRNs have quarterly coupons, i.e.… … Wikipedia
Yield spread premium — The yield spread premium (YSP) is the cash rebate paid to a mortgage broker based on selling an interest rate above the wholesale par rate that the borrower qualifies for. For example, If a mortgage broker offers a borrower a loan of $100,000 at… … Wikipedia
