Terms with Tag Loan

  • Combined Loan-to-Value (CLTV) Acronym, Very Important,
    • The connection between the unpaid principal balances of all the mortgages on a property (first and second usually) and the property's appraised value (or sales price, if it is lower).
    A term used by mortgage lenders and mortgage underwriters.
  • Commercial Line of Credit (CLOC)Acronym,
    • Commercial Loan Origination (CLO)Acronym,
      • Commercial Property Finance (CPF)Acronym,
        • Convertible Unsecured Loan Stock (CULS)Acronym,
          • Credit Contingent Interest Rate Swap (CCIRS)Acronym,
            • Current Loan-to-Value Ratio (CLTVR)Acronym,
              • Debt Service Ratio (DSR)Acronym, Important,
                • Dedicated Loan Origination and Servicing (DLOS)Acronym,
                  • Dell Financial Services Canada (DFSC)Company, Canada,
                    • Demand Promissory Note (DPN)Acronym,
                      • Equity Line of Credit (ELOC)Acronym,
                        • Farm Credit Canada (FCC) Company, Canada,
                          • Federal Business Development Bank (FBDB)Acronym, Canada,
                              Now called the Business Development Bank of Canada.
                            • Financial Services Commission of Ontario (FSCO) Company Est. 1998, Ontario, Canada, Very Important,
                              • A regulatory agency of the Ministry of Finance that protects public interests and regulates insurance, pension plans, loan and trust companies, credit unions, caisses populaires, mortgage brokering, and co-operative corporations in Ontario.
                              Oversees the mortgage, insurance and pension industries in Ontario.
                            • First Data Loan Company, Canada (FDLCC) Company, Mississauga, Ontario, Canada,
                              • First National Financial Corporation (FNFC)Company, Toronto, Ontario, Canada,
                                • First National Financial LP is Canada’s largest non-bank lender, offering both commercial and residential mortgage.
                                Now called First National Financial LP.
                              • First Nations Finance Authority (FNFA) Company, Westbank, British Columbia, Canada,
                                  Non-profit organization that provides low-rate loan, investment options, and capital planning advice to First Nation governments.
                                • Firstline Mortgages (FLM) Company, Toronto, Ontario, Canada, Very Important,
                                  • As of July 31, 2012, Firstline Mortgages announced that it will no longer be accepting new mortgage clients.
                                  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                                • Fully Secured on Land (FSOL)Acronym,
                                  • Fully Secured on Residential Property (FSRP)Acronym,
                                    • Funded Interest Term Loan (FITL)Acronym,
                                      • Grand Bank Development Corporation (GBDC)Company, Grand Bank, Newfoundland, Canada,
                                        • High Combined Loan to Value (HCLTV)Acronym,
                                          • Home Equity Combined Loan to Value (HCLTV)Acronym,
                                            • Home Equity Instalment Loan (HEIL)Acronym,
                                              • Home Equity Line of Credit (HELOC) Acronym, Very Important,
                                                • An open-ended loan, paid as revolving debt, that is backed by the equity in the property.
                                                Also known as a Home Line of Credit.
                                              • Home Equity Loan (HEL) Acronym, Very Important,
                                                • A loan that can replace or be an addition to the first mortgage. Typically used as a home improvement loan.
                                                Also known as an Equity Take Out (ETO).
                                              • Home Improvement Loan (HIL)Acronym, Important,
                                                • Home Loan Account (HLA)Acronym,
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