A subprime loan is a loan made to a borrower who is not eligible for the best market rates (known as prime rates), but rather at a higher rate of interest because of increased risk factors.
Subprime borrowers usually have...
commercial transactions
subprime mortgage
A subprime mortgage is a subprime loan used as a mortgage (to buy property, such as a house).
See also: debt, credit score
[Last updated in June of 2022 by the Wex Definitions Team]
Superfund
Superfund is the shorthand name often used to refer to the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). CERCLA is codified in 42 U.S.C. Chapter 103. It is a large piece of legislation that gives the...
swindle
To swindle means to dispossess someone of money or property through fraud or deceit.
[Last updated in March of 2022 by the Wex Definitions Team]
syndicate
A syndicate is an association or a joint venture formed to achieve a common business objective. For example, a syndicate may be formed by a group of investment bankers to underwrite and distribute new shares.
[Last updated in March...
takeover
A takeover occurs when the controlling interest in a corporation shifts from one party to another. Takeovers are categorized as either hostile or friendly depending on whether the management of the company being taken over is a willing...
taking
Overview
The power of the government through the use of eminent domain, to take private property and convert it into public use, is referred to as a taking. The Fifth Amendment provides that the government may only exercise this power if...
takings
Overview
A taking is when the government seizes private property for public use.
A taking can come in two forms. The taking may be physical, which means that the government literally takes the property from its owner). Or the taking may be...
tariff engineering
Tariff engineering is the targeted design of a product's characteristics to reduce the tariff to be paid on imports. Unlike tax evasion, tariff engineering is legal. It studies changes to the material, structure, or other characteristics of a...
tender offer
Tender offer is a public offer to buy shares of a corporation, usually at above market price and with the intention of gaining controlling interest in the target corporation. An acquirer making a tender offer for more than 5% of a corporation...