Canadian Financial, Real Estate and Mortgage Glossary

named perils — Definition

Risks that are specifically listed as being covered in an insurance policy.

named perils insurance policy — Definition

Insurance that only provides coverage in the event of a loss from a peril specifically named in the insurance policy.

National Association of Securities Dealers Automated Quotations (NASDAQ) — Company

National Bank of Canada (NBC) — Company, Canada-wide, Important

  ➥  A Canadian NHA approved mortgage lender that offers all lending types and reverse mortgage home income plans.

National Broker Council (NBC) — Acronym, Important

  ➥  A VERICO governing network.

national building code (NBC) — Acronym, Important

National Housing Act (NHA) — Est. 1944, Canada, Important

An Act that consolidates all housing legislation and gives the Canadian federal government a leading role in housing programs.

  ➥  Canadian law relating to housing standards and building guidelines.

National Student Loans Service Centre (NSLSC) — Company, Canada

Nationwide Appraisal Services (NAS) — Company, Canada, Important

  ➥  Real estate valuations.

Natural Area Protection Tax Exemption Program (NAPTEP) — Victoria, British Columbia, Canada

  ➥  Property tax incentive program.

needs approach — Definition

A way of determining how much life insurance an individual should purchase by examining the future obligations and needs of the beneficiaries.

negative amortization — Definition

A gradual increase in loan debt that occurs when the monthly payment does not cover the entire principal and interest due. The shortfall is added to the remaining balance which creates "negative" amortization.

negative-equity financing — Definition

Financing for new car buyers who owe more on their trade-in than the car is worth.

net asset value (NAV) — Acronym

net asset value per share (NAVPS) — Acronym

net cash flow (NCF) — Definition

Incremental after-tax income plus depreciation expense resulting from investment.

net cash surrender value (NCSV) — Acronym

net client cash flow (NCCF) — Acronym

The difference between money received from customers and money given back to customers during a given period of time.

net income (NI) — Definition, Very Important

The difference between effective gross income and expenses. The term is qualified as net income before depreciation and debt.

net income after taxes (NIAT) — Acronym

net income attributable (NIA) — Acronym

net income before tax (NIBT) — Acronym

net interest income (NII) — Acronym

The income a bank receives minus any interest payments incurred during a period.

net interest margin (NIM) — Definition

Net interest income (the difference between interest income and interest expense) as a percentage of average total assets.

net investment income (NII) — Acronym

net operating cash flow (NOCF) — Acronym

net operating income (NOI) — Acronym, Important

Net operating income is the amount remaining after deducting operating expenses from gross income.

net operating loss (NOL) — Definition, Very Important

A net loss for the tax year because of business or casualty losses. Taxpayers may use an excess loss of one year as a deduction for certain past or future years.

net operating loss carryover (NOLCO) — Acronym

net operating loss deduction (NOLD) — Acronym