An Option ARM (adjustable-rate mortgage) is a type of mortgage where the borrower has several possible payment choices. The borrower may pay:
A payment covering the interest and principal amounts, which will reduce the amount owed on...banking
origination fee
An origination fee (sometimes referred to as origination “point”) is a fee paid to a lender to process a loan application. The borrower agrees to pay this upfront fee to the lender for setting up the loan or mortgage. The fee is typically a...
par value
Par value, also referred to as nominal value, is the face value of a bond or the stock value stated in the corporate charter and noted in the stock certificate. Par value of a bond or fixed-income instrument is crucial since it influences the...
partially secured debt
A partially secured debt is a form of secured debt in which debt is backed by collateral with a value lesser than that of the full debt owed. Also known as undersecured debt. Such a debt can be illustrated, for example, with a home valued at...
payroll
Payroll is a list of employees of a company who are entitled to receive a salary or other compensation for their work, showing how much each person earns, and sometimes including senior employees such as managers. It also refers to the total...
peculator
A peculator (also referred to as an embezzler) refers to a person who steals money that was under their supervision, by utilizing the benefit or convenience created by their position. The money is not limited to cash, and can include vouchers...
perfect
Perfect in law often means to complete all the steps necessary to have a clear right or interest in something. Most commonly, perfect refers to the process of publicly establishing a security interest in collateral for purposes of gaining...
perfected
Perfected refers to security interests that have been established publicly through one of the methods of perfection to gain priority. Among competing security interests, a security that is perfected will prevail over other unperfected...
perfection
Perfection is the process of publicly establishing a security interest in collateral for purposes of gaining priority. Among competing security interests, a security that is perfected will prevail over other unperfected security interests (...
periodic reports
Periodic reports are documents that public companies must continuously file with the Securities and Exchange Commission (SEC) which disclose material updates on the company’s business operations. There are three ways a company can have a...