What Is an Open-End Mortgage? An open-end mortgage allows individuals to borrow additional money on the same loan at a later date without having to take out new financing or credit. It remains open and it permits the lender to make advances on the loan that are secured by the […]
Banking
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What Is a Traunch? A Traunch is one portion in a series of allotments or payments. Usually, for a specific purpose with measured objectives required for future payments A traunch is one of a series of payments or allotments scheduled to be paid out over a specified period. Future payments […]
Semiannually – What Is Semiannual? Semiannually describes something that is calculated, paid, reported, published, or otherwise occurs twice each year or once every six months. Biannual or semiannual simply means that something occurs twice a year. For example, a company could have company celebrations semiannually. The first is the company […]
What Is Principal Curtailment? Principal curtailment for a mortgage or loan refers to making extra payments or paying periodic lump sums towards debt to pay it off faster. The additional payments are applied to the principal balance on the loan. The more extra payments you make, the faster the principal […]
What Is a Ledger Balance? A ledger balance is usually computed by a bank at the end of each business day. It includes all withdrawals and deposits to calculate the total amount of money in a bank account. In many cases, it is also the opening balance in the bank […]
Financial Intermediaries – Financial Intermediary Definition A financial intermediary is an entity that acts as the middleman between two parties in a financial transaction. Intermediaries include commercial banks, investment banks, mutual funds, or pension funds. Financial intermediaries provide a middle ground between two parties in any financial transaction. For example, […]