Lender Financial Glossary

What is it? A general term encompassing all mortgagees and beneficiaries under deeds of trust.

Finance Term Definition Added By: Kate

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Other Similar Finance Terms:

Financial Term warehouse receipt is Written evidence of goods held in a warehouse operated by a third party. The goods may be in a public (i.e., general), private, or field warehouse. Also known as collateral receipts. The receipts may be negotiable or non-negotiable. Negotiable warehouse receipts are bearer instruments. A negotiable warehouse receipt can be sold to a buyer who then owns the inventory covered by the receipt.

Financial Term Award Letter is A means of notifying successful financial aid applicants of the assistance being offered. The award letter usually provides information on the types and amounts of aid offered, as well as specific program information, student responsibilities, and the conditions which govern the award. Generally provides students with the opportunity to accept or decline the aid offered. (See Financial Aid Notification)

Financial Term Lien is A legal hold or claim of one person on the property of another.

Financial Term Index is A yardstick to measure change from a base year.

Financial Term PITI is Principal, interest, taxes and insurance, which comprise your monthly mortgage payment.