Glossary

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Super Jumbo Plus

Financial Term

Super Jumbo Plus refers to a type of loan program typically offered by financial institutions for borrowers seeking large home loans. These loans are typically in the range of $3 million or higher and cater to high net worth individuals. The Super Jumbo Plus loans offer features such as low interest rates, flexible terms and high loan-to-value ratios. They are commonly used by wealthy individuals looking to purchase luxury properties or refinance existing ones.

In the financial industry, Super Jumbo Plus loans are often used for investment purposes, such as financing the purchase of a second home or investment property. They are also used by ultra-high-net-worth individuals for estate planning purposes, such as transferring a property to a trust or as collateral for a business loan. While the minimum requirements for these loans may vary among lending institutions, most require a high credit score, significant assets and proof of income.

Overall, Super Jumbo Plus loans are a specialized offering in the financial industry, catering to the needs of high net worth individuals seeking significant financing options for luxury properties or investment purposes.

More Glossary Terms Beginning with S

S&P 500 Index
is the Standard & Poors 500 Composite Stock Price Index, a widely recognized, unmanaged index of common stock prices. You may not invest directly in the S&P 500 Index, and, unlike the Fund, benchmark indices do not incur fees or expenses.   Indices

Financial Term Letter: S
S&P GSCI Commodity Index
is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures that is diversified across the spectrum of commodities. The returns are calculated on a fully-collateralized basis with full reinvestment. The combination of these attributes provides investors with a representative and realistic picture of realizable returns attainable in the c

Financial Term Letter: S
S-Curve Method
A mathematical function which depicts an initial slow change, followed by a rapid change and then ending in a slow change again. This results in an "S" shaped line when depicted graphically. The actuarial application of these curves fit the reported data to date for a particular cohort of claims to an S-curve to project future activity for that cohort.

Insurance Term Letter: S
Sales per Employee
A ratio that measures companys productivity by dividing cumulative Sales of the past twelve months, by the number of employees. Sales Per Employee displays how much a single employee contributes over the twelve months period to the total sales of the company. Sales Per Employee Formula = (Sales trailing twelve months / Employee)

Fundamental Analysis Letter: S
Salt
also known as sodium chloride, has many end uses. Salt is used as feedstock for chlorine and caustic soda manufacture; these two inorganic chemicals are used to make many consumer-related end-use products, such as polyvinyl chloride (PVC) plastic made from chlorine and paper-pulping chemicals manufactured from caustic soda. Chemical Manufacturing Industry

Manufacturing Term Letter: S
Salvage
The amount of money an insurer recovers through the sale of property transferred to the insurer as a result of a loss payment.

Insurance Term Letter: S
Sampling
Selecting a fractional but representative part of a mineral deposit for analysis.

Manufacturing Term Letter: S
Scrap Iron and Steel
Iron and steel scrap is a vital raw material for the production of new steel and cast-iron products. Steel scrap recycling conserves raw materials, energy, and landfill space. Iron & Steel Industry Operating Statistics

Manufacturing Term Letter: S
Second Injury Fund
The employer of an injured, impaired worker is responsible only for the workers compensation benefit for the most recent injury; the second-injury fund would cover the cost of any additional benefits for aggravation of a prior condition. The cost is shared by the insurance industry and self-insureds, funded through assessments to insurance companies and self-insureds based on either premiums or lo

Insurance Term Letter: S
Second-line
Treatment following first-line treatment; used if the initial treatment is unsuccessful or if the disease re-occurs.

Health Care Term Letter: S
Securitization
A process whereby loans or other receivables are packaged, underwritten and sold to investors. In a typical transaction, assets are sold to a special purpose entity, which purchases the assets with cash raised through issuance of beneficial interests (usually debt instruments) to third-party investors. Whether or not credit risk associated with the securitized assets is retained by the seller depe

Financial Term Letter: S
Securitization Income
Includes non-credit provision components of the net gains or losses from securitization activities; changes in fair value of the interest-only strip; excess spread related to securitized cardmember loans; and servicing income, net of related discounts or fees. Excess spread, which is recognized as earned, is the net cash flow from interest and fee collections allocated to the third-party investors

Financial Term Letter: S

More in this Category

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
Acquisition
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