Cost Of Funds Index
Definition of "Cost of funds index"
Average of what savings institutions in the 11th district of the Federal Home Loan Bank System ( California, Arizona, and Nevada) are paying in interest to depositors and other sources of borrowed money. The index was developed in 1981 to provide a benchmark for adjustable rate mortgages. Currently, about 10 percent of the nation's mortgages are tied to the index. When the index rides, so do interest rates on millions of home mortgages.
Popular Real Estate Terms
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment ...
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
Generally, a nominee defines an individual or company whose name appears on securities or real estate. First and foremost, their purpose is to assist the progress of a particular ...
Standard language in real estate contracts and prospectuses-usually in small print. ...
Stiff pipe used to cover electrical wiring for safety purposes. ...
File of prospective real estate customers showing their address, telephone number, time and date of last contact, types of properties in which they are interested, and their financial ...
Authority given by a municipality to perform specified operations in a certain zoning area. Conditions are sometimes attached by the zoning group. An example is permission to have a ...
Have a question or comment?
We're here to help.