Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
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The Mortgage Group®


GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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cost of living adjustment (COLA)Definition
A method used to keep salaries and benefits in line with inflation by following an index such as the Consumer Price Index.
cost plus (CP) — Acronym, Important
cost plus award-fee (CPAF) — Acronym
cost plus fixed-fee (CPFF) — Acronym, Important
cost plus incentive fee (CIF, CPIF) — Acronym
cost plus percentage-of-cost (CPPC) — Acronym
cost-plus contractDefinition
An agreement in which a construction contractor receives a fee based on a percentage of all costs paid for labour and materials.
counterofferDefinition
Rejection of a purchase offer by submission of another offer with different terms (such as price or closing date). A step in the negotiating process.
covenantDefinition
A promise made in a contract or property deed.
covenantorDefinition
A person who promises to be responsible for the repayment of a loan.
coverageDefinition
The type or amount of protection afforded by an insurance policy.
coverage areaDefinition
A geographical area where travel insurance coverage applies.
creative financingDefinition
An innovative or unusual way of structuring a home loan that allows the buyer to buy the house.
creditDefinition
Money that a lender gives to a borrower on condition of repayment over a certain period.
credit based insurance scores (CBIS) — Acronym
credit bureau (CB)Definition, Very Important
A company that collects and sells information about how people handle credit. It issues credit reports that list how individuals manage their debts and make payments, how much untapped credit they have available and whether they have applied for any loans. The reports are made available to individuals and to creditors who profess to have a legitimate need for the information.
  ➥  Company that determines one's credit worthiness.
credit bureau information (CBI) — Acronym
credit bureau report (CBR)Definition, Very Important
A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
  ➥  A report that outlines one's credit worthiness.
credit card (CC)Definition, Very Important
A plastic card with a coded magnetic stripe that, when signed, entitles its bearer to a revolving line of credit, with a credit limit and interest rate determined by the borrower's income and credit report.
  ➥  A payment card that gives customers access to a revolving line of credit.
credit card application processing system (CCAPS) — Acronym
credit card identification (CCID) — Acronym
credit card number (CCN) — Acronym
credit card purchase (CCP) — Acronym
credit card receivables (CCR) — Acronym
credit card verification system (CCVS) — Acronym
Credit Counselling Services of Alberta (CCSA) — Company, Alberta, Canada
credit disability insurance (CDI) — Acronym
credit historyDefinition
A record of an individual's or company's past borrowing patterns and whether or not debts were repaid on time.
credit insuranceDefinition
Insurance that covers borrowers and/or lenders if one is unable to repay debts.
credit life insuranceDefinition
Life insurance that repays the insured's debts upon their death. The death benefit decreases as the debt is paid off.
Previous Page
Controlled GrowthCost of Insurance
 
Currently Displayed — Page 14
Cost of Living Adjustment — Credit Life Insurance
  Next Page
Credit LimitCurrent Loan-to-Value...

Search the Glossary

Index for The Letter 'c'

Page 1: Caisse populaire
Canadian Apartment...
Page 2: Canadian Association of...
Canadian Information Centre...
Page 3: Canadian Institute for...
Canadian Securities...
Page 4: Canadian Society of...
Card Identification Number
Page 5: Card Validation Code
Ceding Party
Page 6: Central 1 Credit Union
Chartered Insurance...
Page 7: Chartered Insurance...
Clean Sheeting
Page 8: Clear Title
Combination Account
Page 9: Combined Loan-to-Value
Commissioner for Federal...
Page 10: Commissioners' Reserve...
Comprehensive Insurance
Page 11: Comptroller
Consolidated Credit...
Page 12: Consolidated Net Operating...
Contributory Negligence
Page 13: Controlled Growth
Cost of Insurance
Page 14: Cost of Living Adjustment
Credit Life Insurance
Page 15: Credit Limit
Current Loan-to-Value Ratio
Page 16: Current Market Value
Customer Relationship...

Notable Terms

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