Glossary Index | Categories | Tagged Terms

Terms Starting with N

New Ross Credit Union -
Newfoundland and Labrador C...

Non-Observed Economy -
Non-Recurring Closing Costs

No Money Down Mortgage — Definition, Important,
- Available in Canada as a true 100% mortgage financing product.
No Par Value (NPV) — Acronym,
No Payment, Deferred Interest (NPDI) — Acronym,
No Payments/No Interest (NPNI) — Acronym,
No Pets (no pts) — Abbreviation,
No Points, No Closing Costs (NPNC) — Acronym,
No Smoking (n/s) — Abbreviation,
➥ As in a n/s rental property.
No-documentation Loan — Definition,
- A mortgage in which the applicant provides a minimum of information -- name, address, Social Insurance number (so credit reports can be pulled), and contact information for an employer, if there is one. The underwriter decides on the loan based on the applicant's credit history, the appraised value of the house and size of down payment.
No-Load Annuity — Definition,
- An annuity that pays the salesperson no commission and has low fees and expenses. A no-load annuity is often sold by an insurer directly.
No-Load Life Insurance — Definition,
- A type of life insurance policy that is sold without a commission for the selling agent.
Nomenclature of territorial units for statistics (NUTS) — Acronym,
Non Policy Issuance (NPI) — Acronym,
Non-Accelerating Inflation Rate of Unemployment (NAIRU) — Acronym,
➥ NAIRU is also sometimes referred as a "long-run Phillips curve".
Non-Accelerating Wage Rate of Unemployment (NAWRU) — Acronym,
Non-Accelerating-Inflation Rate of Interest (NAIRI) — Acronym,
Non-assumption Clause — Definition,
- A provision of a home loan that prohibits the transfer of the mortgage to another borrower without the lender's permission.
Non-Bank Financial Institution (NBFI) — Acronym,
Non-Bank Lender (NBL) — Acronym,
Non-Cancellable — Definition,
- A contract or section of a contract that cannot be modified.
Non-Circumvention Non-Disclosure (NCND) — Acronym,
- Contract by brokers to ensure the buyer and seller together do not by-passed the brokerage and any information disclosed during negotiations is not revealed to any unauthorized party.
Non-Circumvention Non-Disclosure Agreement (NCNDA, NC/ND) — Acronym,
Non-Convertible Currency (NCC) — Acronym,
Non-Deliverable Forward (NDF) — Acronym,
Non-dischargeable Debt — Definition,
- Debt that cannot be eliminated in bankruptcy such as Federal taxes.
Non-Disclosure Agreement (NDA) — Acronym,
- A contract that disallows one or more parties from disclosing information covered by the contract.
Non-Financial Public Enterprise (NPE) — Acronym,
Non-Forfeiture Clause — Definition,
- A clause that allows a policyholder to receive partial or full benefits and/or a refund of premiums if the policy lapses due to unpaid premiums.
Non-Income Qualified (NIQ) — Acronym,
Non-Industrial Disability Insurance (NDI) — Acronym,
Non-liquid Asset — Definition,
- A possession that can't be transformed readily into cash. Stocks and bonds are liquid assets because they can be sold easily; a house is a non-liquid asset because it takes time to sell.