Terms with Tag Banking
- Extended Warranty — Definition,
- A service contract that covers certain vehicle repairs or problems after the manufacturer's or dealer's warranty expires. Extended warranties are sold by vehicle manufacturers, dealers, and independent companies. With a new vehicle, the extended warranty must be purchased by the end of the first year of ownership.
- Face Value — Definition,
- The value of an asset, or the size of an insurance benefit.
- Fair Isaac Corporation (FICO) — Company Est. 1956, ➥ Introduced the FICO® Score used in credit reports.
- Falling Interest Rate Adjustable Rate Mortgage (FIREARM) — Acronym,
- Federal Business Development Bank (FBDB) — Acronym, Canada, ➥ Now called the Business Development Bank of Canada.
- Federal Employees Credit Union (Kingston) Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Federal Home Loan Mortgage Corporation (FHLMC) — Acronym, United States, ➥ A US mortgage corporation also known as Freddie Mac.
- Federal National Mortgage Association (FNMA) — Company, United States, ➥ A US mortgage association also known as Fannie Mae.
- Federal Reserve Board (FRB) — Company, ➥ A US banking term.
- Federal Reserve System (FRS, Fed) — Acronym & Abbreviation, ➥ A US banking term.
- Fellow of the Canadian Bankers Association (FCBA) — Acronym, Canada,
- Fellow of the Credit Union Institute of Canada (FCUIC) — Acronym, Canada,
- Fidelity Bond — Definition,
- Insurance that protects a business from losses due to employee fraud, such as theft, forgery or fraudulent trading.
- Fiduciary — Definition,
- An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
- Fiduciary Duty — Definition,
- A requirement that someone in a position of trust, such as a banker, real-estate agent, or title agent, must act in good faith and trust on behalf of a client.
- Filing Extension — Definition,
- An additional amount of time to file your return. A filing extension, however, does not give you more time to pay your taxes.
- Finance Canada — Company, Canada-wide,
- Federal department responsible for Canada's economic performance and regulation of financial institutions.
- Finance Charge — Definition,
- Charges that include all of the interest expected to be earned over the life of a loan, in addition to the service charges, mortgage insurance premiums, and other loan-related charges.
- Financial Consumer Agency of Canada (FCAC) — Company Est. 2001, Canada, ➥ Established by the federal government to protect and educate consumers of financial products and services in Canada.
- Financial Crime Analysis (FCA) — Acronym,
- Financial Groups Directive (FDG) — Acronym,
- Financial Services Commission of Ontario (FSCO) — Company Est. 1998, Ontario, Canada, Very Important,
- A regulatory agency of the Ministry of Finance that protects public interests and regulates insurance, pension plans, loan and trust companies, credit unions, caisses populaires, mortgage brokering, and co-operative corporations in Ontario.
➥ Oversees the mortgage, insurance and pension industries in Ontario. - Financing Entity — Definition,
- An entity that purchases an insurance policy or settlement contract.
- Financing Expenses — Definition,
- Expenses sustained from interest payments, financing, and dividends to shareholders.
- Finder Fee — Definition,
- A fee paid by a party to another for services rendered.
- Finnish Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Firm Commitment — Definition,
- A lender's promise to lend money to a specific borrower on specified terms at a certain time.
- First Calgary Savings Credit Union — Company, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- First Credit Union (FCU) — Company Est. 1939, British Columbia, Canada, ➥ Originated as Powell River Credit Union (PRCU). A Canadian NHA approved mortgage lender that offers all lending types and reverse mortgages.
- First Nations Bank of Canada (FNBC) — Company, Saskatoon, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
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