Glossary Term: LOAN
Definition(s) for LOAN:
1. ) Temporary borrowing of a sum of money. If you borrow $1 million you have taken out a loan for $1 million.
2. ) money borrowed that is usually repaid with interest.
3. ) A sum of money lent at interest.
4. ) Transaction wherein an owner of property, called Lender, allows another party, the Borrower, to use the property. The borrower customarily promises to return the property, after a specified period with payment for its use, called Interest. The documentation of the promise is called a promissory note when the property is cash.
5. ) For purposes of this report, a loan is generally an extension of credit resulting from direct negotiations between a lender and a borrower. The reporting bank holding company or its consolidated subsidiaries may originate a loan by directly negotiating with a borrower or it may purchase a loan or a portion of a loan originated by another lender that directly negotiated with a borrower.The reporting bank holding company or its subsidiaries may also sell a loan or a portion of a loan, regardless of the method by which it acquired the loan.
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See Also:
BALLOON LOAN, BULLET LOAN, COLLATERALIZED LOAN OBLIGATION (CLO), COMMERCIAL LOAN THEORY OF LIQUIDITY, FEDERAL HOME LOAN BANK SYSTEM (FHLBS), FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC), FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC), LOAN PARTICIPATION, LOAN-TO-VALUE (LTV) RATIO, MORTGAGE LOAN, SINGLE PAYMENT LOAN, STUDENT LOAN MARKETING ASSOCIATION (SLMA), WHOLE LOAN POOLS, COMMERCIAL LOAN, TERM LOAN, BI-WEEKLY MORTGAGE LOAN
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