FNMA Financial Glossary

What is it? (see Federal National Mortgage Association)

Finance Term Definition Added By: Hannah

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Other Similar Finance Terms:

Financial Term Backwardation is A term used in the futures industry when the price of each futures delivery month becomes progressively lower and lower. e.g. the spot contracts price is higher than the second contract month.

Financial Term Individual Retirement Account Rollover is A special IRA that is established specifically for taxable funds distributing from a tax-qualified retirement plan. As in the case of a regular IRA, funds are not subject to tax until they are withdrawn from the account.

Financial Term Credit Limit is The maximum amount that you can borrow under a personal line of credit or home equity line of credit plan.

Financial Term Affiliate is An organization that is a parent or subsidiary of another organization or a subsidiary of a common parent. An organization may be an affiliate of another because of ownership, overlapping officers and directors, or other factors. For example, Pacific Trust Bank and First PacTrust Bancorp, Inc. are affiliates, because both are owned by First PacTrust Bancorp, Inc.

Financial Term Introductory Rate is A temporary, lower APR (Annual Percentage Rate) on credit that usually lasts for a few months before converting to the normal fixed or variable rate.