Glossary

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Mortgage Loan Documents

Financial Term

Mortgage loan documents refer to the written agreements and legal papers signed by a borrower and a lender when a mortgage loan is given. These documents outline the terms and conditions of the loan, including the loan amount, interest rate, repayment terms, and penalties for defaulting on the loan.

The most common mortgage loan documents include the promissory note, which is a legally binding agreement to repay the loan, and the mortgage or deed of trust, which provides security for the loan by giving the lender a stake in the property.

Other mortgage loan documents may include a loan application, which outlines the borrower*s financial and credit history, as well as supporting documentation such as income statements and tax returns. A loan disclosure statement may also be provided to the borrower, detailing the terms of the loan and any associated fees or charges.

In the financial industry, mortgage loan documents are used by lenders to ensure that borrowers understand the terms and conditions of the loan and to mitigate the risks associated with lending money. These documents are also used by title companies and real estate attorneys to ensure that the transfer of ownership of the property is properly documented and legally binding.

Having accurate and complete mortgage loan documents is essential in the event of default or foreclosure, as the lender will need to be able to prove that they have legal ownership of the property and the right to foreclose on the loan. As such, mortgage loan documents are a critical part of the mortgage lending process and are carefully reviewed and monitored by all parties involved.

More Glossary Terms Beginning with M

M1 Money Supply
M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of nonbank issuers; (3) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; an

Economy Term Letter: M
M2 Money Supply
M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000), less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market mutual funds, less IRA and Keogh balances at money market mutual funds.

Economy Term Letter: M
m3
Cubic metre. A measure of volume equal to approximately 1,130 square feet (3/8-inch basis).

Manufacturing Term Letter: M
MACD
MACD is the difference between a fast Exponential Moving Average (EMA) and a slow Exponential Moving Average and the fast Moving Average is continually converging towards or diverging away from the slow Moving Average. Signal line is a the Exponential Moving Average of the MACD, plotted to identify changes in trends and market sentiment. The MACD study can be used to identify buy and sell signals.

Technical Indicator Letter: M
MACT
Maximum Achievable Control Tech- nology. Regulations being introduced in the US to limit the discharge of hazard- ous air pollutants.

Manufacturing Term Letter: M
Mammography
An X-ray of the breast with the breast in a device that compresses and flattens it.

Health Care Term Letter: M
Managed Credit Card Receivables
Refers to credit card receivables on the Firms Consolidated Balance Sheets plus credit card receivables that have been securitized and removed from the Firms Consolidated Balance Sheets.

Financial Term Letter: M
Managed Receivables
Total receivable amounts on which the company continues to perform billing and collection activities, including receivables that have been sold with and without credit recourse and are no longer reported on their Statement of Financial Position.

Financial Term Letter: M
Manufacturers Manufacturing
Establishments in the manufacturing sector are often described as plants, factories, or mills, and characteristically use power-driven machines and material-handling equipment. Manufacturing establishments may process materials, or may contract with other establishments to process their materials for them. Both types of establishments are included in manufacturing.

Manufacturing Term Letter: M
Mark To Market
The valuation at fair value, using prevailing market prices, at a specified point in time.

Financial Term Letter: M
Mark To Market Exposure
A measure, at a point in time, of the value of a derivative or foreign exchange contract in the open market. When the mark-to-market value is positive, it indicates the counterparty owes the Firm and, therefore, creates a repayment risk for the Firm. When the mark-to-market value is negative, the Firm owes the counterparty; in this situation, the Firm does not have repayment risk.

Financial Term Letter: M
Marker
Indicator of the presence of a specific kind of tumor, identifiable by means of specific laboratory tests.

Health Care Term Letter: M

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Acquired Fund Fees and Expenses
fees and expenses charged by other investment companies in which the Fund invests a portion of its assets.

Financial Term
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A business acquisition. The acquiring company records at its cost the acquired assets less liabilities assumed. The reported income of an acquiring company includes the operations of the acquired company from the date of acquisition.

Financial Term
Acquisition Proposal
means any merger, amalgamation, take-over bid, tender offer, arrangement, recapitalization, liquidation, dissolution, share exchange, material sale of assets (or any lease, long term supply agreement or other arrangement having the same economic effect as a material sale of assets) representing greater than 20% of the fair market value of the Arrangement, any sale of more than 20% of any class of

Financial Term
Adjusted Average Cardmember Loans
Represents average cardmember loans on an owned or managed basis, as applicable, excluding the impact of deferred card fees, net of deferred direct acquisition costs of cardmember loans on an owned or managed basis, as applicable.

Financial Term
ADR American Depositary Receipt
represents ownership in the shares of a non-U.S. company that trades in U.S. financial markets. ADRs enable U.S. investors to buy shares in foreign companies without the inconveniences of cross-border & cross-currency transactions. ADRs carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of US-based companies.

Financial Term
ADS American Depositary Share
represents ownership in the shares of a non-U.S. company that trades in U.S. financial markets. American Depositary Share representing one underlying Ordinary Share. ADS enable U.S. investors to buy shares in foreign companies without the inconveniences of cross-border & cross-currency transactions. ADS carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of U

Financial Term
Advised Lines of Credit
An authorization which specifies the maximum amount of a credit facility the Firm has made available to an obligor on a revolving but non-binding basis. The borrower receives written or oral advice of this facility. The Firm may cancel this facility at any time.

Financial Term
AICPA
American Institute of Certified Public Accountants

Financial Term
Allowance For Credit Losses
includes the allowance for loan and lease losses and the reserve for unfunded lending commitments, represents managements estimate of probable losses inherent in the Corporations lending activities. The allowance for loan and lease losses and the reserve for unfunded lending commitments exclude amounts for loans and unfunded lending commitments accounted for under the fair value option as the fair

Financial Term
Allowance For Loan and Lease Losses
The allowance for loan and lease losses represents the estimated probable credit losses in funded consumer and commercial loans and leases while the reserve for unfunded lending commitments, including standby letters of credit (SBLCs) and binding unfunded loan commitments, represents estimated probable credit losses on these unfunded credit instruments based on utilization assumptions. Credit expo

Financial Term
Alt-A Mortgage Loans
Alt-A loans are generally higher in credit quality than subprime loans but have characteristics that would disqualify the borrower from a traditional prime loan. Alt-A lending characteristics may include one or more of the following: (I) limited documentation; (II) high combined-loan-to-value ("CLTV") ratio; (III) loans secured by non-owner occupied properties; or (IV) debt-to-income ratio above n

Financial Term
Amortization
A charge against the companys earnings that represents the write off of intangible assets over the projected life of the assets. Cash Flow

Financial Term