Start Trading Forex Now!

Q: please tell me what the "total housing expense" is

Category: glossary , Asked by: S. Mcknight from Brest, France

A: The sum of a homeowner's monthly mortgage principal and interest payments, hazard insurance premiums, property taxes and homeowner's association fees, plus monthly debt service. Monthly debt service consists of payments on credit cards, installment loans and other debts. A borrower's total housing expense is used in the calculation of a back-end ratio, which is used to qualify a borrower for a loan. A borrower's total housing expense as a percentage of his or her total gross monthly income (the back-end ratio) generally cannot exceed 56%; however, that limit can vary slightly based on the lender, loan program and market conditions. For a borrower whose back-end ratio exceeds the limit, compensating factors such as a good credit history, a low loan-to-value ratio, and substantial net worth might be considered by underwriters in granting approval for a mortgage. Visit ForexWebTrader

    please define "cage"

    Category: glossary by Keon A. From Ulm, Germany

    a "cage " is A term used to describe the department of a brokerage firm that receives and distributes physical securities. A reference mainly used by industry workers, the cage is like a vault where all certificates and bonds are held in physical form.

    please tell me what a "canadian securities administrators - cSA" is

    Category: glossary by N. U. From San Mateo, United States

    A collective forum composed of all the provincial and territorial securities regulators of Canada. The CSA's main goal is to collaborate on the creation and harmonization of securities regulations across Canada. In addition to its regulation-related functions, the organization seeks to better educate the public on all aspects of the Canadian securities market. As of 2008, there are 13 different securities regulators (representing each of the 10 Canadian provinces and three Canadian territories) that are part of the CSA. The CSA also maintains the System for Electronic Document Analysis and Retrieval (SEDAR), which is a publicly accessible database that contains the various filings related to publicly traded Canadian companies.

    do you know what the "National Savings Stock Register" is?

    Category: glossary by U. X. From Innsbruck, Austria

    a "National Savings Stock Register " is A register of government stocks (gilts) which can be purchased by the public through the Post Office at favourable rates of commission for moderate purchases and sales. Transactions are conducted by mail and interest is paid gross and is taxable. Despite

Ask a question

Full name:
Email:
Country:
Human?
Question:
Featured Question
    please define a "company owned life insurance"
    "company owned life insurance " is A type of life insurance policy taken out by a company on the lives of employees whom the company considers to be of vital importance to its operations. Under this type of plan, the company in question pays the premium on the insurance but is also the plan's primary beneficiary. There are a few reasons why a company would take a life insurance policy out on key employees. For one, the tax-free proceeds that are received after the death of a key person can be used to cover any costs that would arise when hiring that individual's replacement. The insurance policy can also be used to cover employee benefit liabilities. However, the most notable benefit to a company that institutes a COLI policy comes from the benefit to after-tax net income. This benefit arises when the cash value of the policy becomes larger than the premiums paid. According to an industry survey conducted in 1999 and cited by New York Life Insurance Company, 68% of the Fortune 1000 companies use COLI programs. Visit GCI

    Choose foreign exchange brokers such as ACM or UFX bank, focus on 24/7 service, Beginner friendly service, a customer support line and easy downloads; controlled by FSA(GB), CFTC or NFA(US). In the following languages: Russian, Arabic, French and Japanese.