DOCUMENT
Glossary of Finance and Economic Terms
272 definitions by Federal Home Loan Mortgage Corporation Freddie Mac

A3 RatingAdjustable-Rate Mortgage (ARM)Adverse SelectionAffinity ProgramAffordable GoldAnalyticsAppreciationArea Median IncomeArrearageAsset-Backed Security (ABS)Auto-DialerAverage-Cost PricingBacktestingBalloonBasis PointBasle AccordBid PriceBondBook ValueBusiness RiskCallable DebtCapitalCapital Market LineCapital ReservesCapital-to-Assets RatioCash-Out RefinanceCatastrophic Risk-Transfer Bonds (CAT Bonds)CollateralCollateralized Mortgage Obligation (CMO)CollectionsCommon EquityCommunity Reinvestment Act (CRA)Conditional Default RateConditional Prepayment Rate (CPR)Conforming Jumbo MortgageConforming MortgageConservator (Conservatorship)Contract RateConventional MortgageConventional Mortgage Home Price Index (CMHPI)Convexity RiskCore CapitalCorrelationCounterpartyCovarianceCredit-Bureau ScoreCredit DerivativeCredit EnhancementCredit MarketsCredit-Rating AgencyCredit RiskCredit ScoreCredit SpreadCredit UnionCritical Capital LevelCureCure RateCurrency SwapDebt RatioDebt RestructuringDefaultDefault RiskDeflationDelinquencyDepartment of Veterans Affairs (VA)Deposit InsuranceDepreciationDerivativeDiscount PointDisinflationDiversification EffectDual-Indexed MortgageDue DateDurationDuration AnalysisEconomic CapitalEqual Credit Opportunity Act (ECOA)EquityFactory-Built HousingFederal Deposit Insurance Corporation Improvement Act (FDICIA)Federal Financial Institutions Examinations Council (FFIEC)Federal Housing Administration (FHA)FICO Mortgage Credit ScoreFloatForeclosureForward Loan CommitmentForward TransactionFully Indexed RateFunding RiskFutureFutures ContractGenerally Accepted Accounting Principles (GAAP)Ginnie MaeGold MeasureGovernment-Backed MortgageGovernment-Sponsored Enterprise (GSE)Grace PeriodGross Domestic Product (GDP)GuaranteeGuarantee FeeHaircutHedgeHUD CodeHyper-inflationIdiosyncratic RiskImmediate TransactionInflationInitial-Adjustment PeriodInitial Interest RateInstitutional InvestorInterest-Only (IO) StripInterest-Rate CapInterest-Rate CeilingInterest-Rate FloorInterest-Rate OptionInterest-Rate RiskInterest-Rate SwapInternal ModelsInternational Swaps and Derivatives Association (ISDA)Inverse FloaterJoint-Probability DistributionJoint-Probability EllipseJunk BondsKitchen Sink BondsLate-Fee Assessment DateLeading Economic IndicatorsLeverage LimitLeverage RatioLiability-to-Asset Ratio (LTA)LIBOR Rate (London Interbank Offer Rate)Liquidity RiskLoan-Loss ReservesLoan ModificationLoan OfficerLoan ProcessorLoan ProspectorLoan-to-Value Ratio (LTV)London InterBank Offer Rate (LIBOR)Loss MitigationLoss-Probability DistributionLower IncomeLow IncomeManagement RiskManufactured HousingMarginMarked-to-MarketMarket BreakMarket RiskMarket-Risk RuleMarket ValueMezzanineMicro-Data SetMinimum Capital StandardMobile HomeModerate IncomeModular HousingMortgage-Backed Security (MBS)Mortgage BrokerMortgage InsuranceMortgage InsuranceMortgage UnderwriterMulti-Lender PlatformNegative EquityNo-Closing-Cost MortgageNominal TermsNoncallable DebtNonconforming MortgageNonperforming LoanNormal DistributionNotionalOff-Balance SheetOn-Balance SheetOperating (Operations) RiskOptimum CapitalOptionPaid-in CapitalPanelized HousingParticipation Certificate (PC)Payment CapPayment CapPerforming LoansPersonal CashPool InsurancePortfolio RunoffPre-CommitmentPre-CommitmentPrefixPrepaymentPrepayment RiskPresent ValuePrime Mortgage MarketPrincipal-Only (PO) StripPrivate-Label IssuerPrivate-Label SecurityPrivate Mortgage InsuranceProbability DistributionPro Forma Financial StatementPrompt Corrective ActionPurchase-Money MortgagePut OptionRAROC (Risk-Adjusted Return on Capital)Real AppreciationReal EconomyReal Estate Mortgage Investment Conduit (REMIC)Real Estate Settlement Procedures Act (RESPA)Real Interest RateReal TermsReceivablesReceiver (Receivership)RecessionRecourseReference Note. SMRefinancing IncentiveRegime ShiftRegression AnalysisREO (Real-Estate Owned)Repayment PlanRepeat-Mortgage TransactionReservesRetained EarningsReviewable-Rate MortgageRight-Party ContactRiskRisk-Adjusted Performance Measure (RAPM)Risk-Adjusted ProfitabilityRisk-Based Capital Standard (Risk-Based Capital Rule)Risk-Based PricingRisk CapitalRisk Transfer BondRolloverRoyaltyRural Housing ServiceSafety NetScenario AnalysisSeasoned LoanSecondary Mortgage MarketSecularSecuritizerSenior-Subordinate BondSensitivity AnalysisSerious DelinquencyServicerServicingShort Payoff SaleSite-Built HousingSkip-TracerSpeculationSpreadStandard MortgageStress TestStructured DebtStructured NoteSubordinated DebtSubordinated TrancheSubprime Mortgage MarketSuper Conforming MortgageSwaptionSweat EquitySweep AccountSystemic RiskTargeted MortgageThird-Party Credit EnhancementTrading Book (Trading Accounts, Trading Activities, Trading Portfolio)TrancheTreasury SecuritiesTruth in Lending Act (TILA)Universal AccountValue-at-Risk (VAR)VarianceWorkoutWorkout RatioYield Curve
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