Alternative Mortgage Instrument (AMI) Financial Glossary

What is it? Any mortgage other than a fixed interest rate, level payment, amortizing loan. Includes variable rate mortgages, rollover loans, graduated payment mortgages, shared appreciation mortgages, adjustable rate mortgages, growing equity mortgages.

Finance Term Definition Added By: Brayden

Send To Friends!

If you'd like to send the Alternative Mortgage Instrument (AMI) definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Alternative Mortgage Instrument (AMI). If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Balance sheet is The balance sheet forms part of a companys annual report and accounts. It is a summary of the companys assets, liabilities and shareholders funds.

Financial Term Cash Advance Fee is A charge by the bank for using credit cards to obtain cash. This fee can be stated in terms of a flat per-transaction fee or a percentage of the amount of the cash advance.

Financial Term SAYE scheme is Save-As-You-Earn - a scheme that allows employees to save for the purchase of shares in the company they work for.

Financial Term waterfall is The contractual distribution of principal and interest cash flows in a multi-tranche security such as an ABS, CMO or CDO. The contractually specified allocation of cash to debt holders and other parties. The priority of payments to holders of different classes of securities created from a securitization.

Financial Term Title Search is The process of examining all relevant records to confirm that the seller is the legal owner of a property and that there are no liens or other claims outstanding.