margin, n. 1. A boundary or edge. 2. A measure or degree of difference. 3. PROFIT MARGIN. 4. The difference between a loan’s face value and the market value of the collateral that secures the loan. 5. Cash or collateral required to be paid to a securities broker by an investor to protect the broker […]
mortgage discount. The difference between the mortgage principal and the amount the mortgage actually sells for; the up-front charge by a lender at a real-estate closing for the costs of financing. • Although usu. paid by the buyer, the discount is sometimes paid by the seller when required by law, as with a VA mortgage.
pawn, n. 1. An item of personal property deposited as security for a debt; a pledge or guarantee. • In modern usage, the term is usu. restricted to the pledge of jewels and other personal chattels to pawnbrokers as security for a small loan. 2. The act of depositing personal property in this manner. 3.
financial institution. A business, organization, or other entity that manages money, credit, or capital, such as a bank, credit union, savings-and-loan association, securities broker or dealer, pawnbroker, or investment company.
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procuration fee. English law. A commission or brokerage allowed to a solicitor for obtaining a loan. — Also termed procuration money.
credit union. A cooperative association that offers low-interest loans and other consumer banking services to persons sharing a common bond — often fellow employees and their family members. • Most credit unions are regulated by the National Credit Union Administration. State-chartered credit unions are also subject to regulation by the chartering state, and they may
haircut. 1. Securities. The discount required by the National Association of Securities Dealers on the value of stock that a brokerage firm holds in its own account at the time of filing a monthly report about the firm’s net capital condition. [Cases: Securities Regulation 40.13. C.J.S. Securities Regulation § 159.] 2. The difference between the