Conventional Mortgage Financial Glossary

What is it? A mortgage that is not obtained under a federal government insured program, such as the Federal Housing Authority, (FHA) or the Veterans Administration (VA), but which meets other standard requirements.

Finance Term Definition Added By: Eric

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Other Similar Finance Terms:

Financial Term FULL is Fully valued

Financial Term PAC tranche is Planned amortization class tranche. A REMIC security created to receive selected cash flows from a pool of underlying mortgages securing the REMIC. PAC tranches use a structure similar to a sinking fund to establish a fixed principal payment schedule. Created together with a companion or support tranche.

Financial Term Market Risk is Uncertainty from factors influencing a large number of stocks, such as inflation, interest rates, oil-shocks, etc.

Financial Term Assignee is The person or business entity who is given, obtains, or buys the right to an asset.

Financial Term deed in lieu of foreclosure is A deed executed by the mortgagor that transfers ownership in real estate to a lien creditor. This instrument is used when the debtor is unable or unwilling to pay and wishes to avoid foreclosure.