Terms with Tag Banking
- Commingling — Definition,
- Lumping together money from different sources so the sources cannot be distinguished.
- Commissioners' Reserve Valuation Method — Definition,
- A method used to determine the minimum statutory reserves for annuities and insurance products.
- Commitment — Definition,
- A written agreement from a lender promising to lend money on certain terms for a specified time period.
- Commitment Fee — Definition,
- A fee paid by a borrower to a lender who promises to lend money on certain terms for a specified time period.
- Community Bank — Definition,
- A bank that is locally owned and operated, but is not part of a bank holding company. Also referred to as an independent bank.
- Community Credit Union (Manitoba) — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Community Credit Union (Nova Scotia) — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Community First Credit Union (CFCU) — Company Est. 1948, Sault Ste. Marie, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Community Saving & Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Community Savings Credit Union — Company, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Commutation — Definition,
- An option given to the beneficiaries of annuities and life insurance policies that allows them to modify the frequency and size of benefit payments.
- Compensation Employees Credit Union — Company, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Compound Interest — Definition,
- Interest that is calculated by adding the interest earned in the current period to the principal and figuring the next period's interest on this "compounded" total amount.
- Compounding Method — Definition,
- Used in Bank rate tables. These include: S--Simple interest. A--Compounded annually. H--Compounded semi-annually. Q--Compounded quarterly. M--Compounded monthly. D--Compounded daily.
- Comptroller — Definition,
- An individual who oversees and audits the financial reporting and accounting of an organization.
- Conditional Commitment — Definition,
- A promise by a lender to make a loan if the borrower meets certain requirements.
- Conditional Reserves — Definition,
- Reserves that are considered liabilities.
- CONEXUS Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Consolidate — Definition,
- To merge multiple things into one single thing.
- Construction Loan — Definition,
- A short-term interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses.
- Construction to Permanent Loan — Definition,
- A loan that finances the construction, then for a long-term, traditional mortgage, as distinct from a construction loan followed by a separate mortgage loan.
- Constructive Receipt — Definition,
- The idea in which a taxpayer does not actually have to take possession of money for it to be taxable. An example of this is when savings account interest is reinvested rather than sent to the account holder as a separate payment. In this case, the account holder constructively received the interest because the earnings were credited to his account and could have been taken out at the owner's discretion. As such, the earnings are taxable.
- Consumer Bankruptcy — Definition,
- A bankruptcy case filed to reduce or eliminate debts that are primarily consumer debts.
- Consumer Credit — Definition,
- Loans for personal use as opposed to business or commercial lending. These loans are typically unsecured and not backed by collateral.
- Consumer Debt — Definition,
- Debts incurred for personal, as opposed to business, needs.
- Consumption Conversion Factor (CCF) — Acronym,
- Contemporaneous Reserve Accounting (CCR) — Acronym,
- Contingent Beneficiary — Definition,
- A beneficiary who only receives his or her benefit when specific conditions have been met.
- Continuous Link Settlement (CLS) — Acronym,
- Contract Holder — Definition,
- The entity that holds the rights to a obligation or debt.
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