| Article 5 |
The part of the Business and Professions Code governing transactions in real property sale contracts and trust deeds. |
| Article 6 |
The part of the Business and Professions Code governing real property securities dealers. |
| Article 7 |
The part of the Business and Professions Code governing commissions, loan costs, and payment requirements in loan brokerage activities. |
| Bond Measure |
A method of borrowing used by school districts to pay for construction or renovation projects. A bond measure requires a 55 percent majority to pass. The principal and interest are repaid by local property owners through an increase in property taxes. (See also parcel tax.) (Ed Source) |
| Broadband |
Broadband is any internet connection with a much higher bandwidth than a standard modem. Broadband has no specific speed. It usually describes DSL, satellite, cable, and WiFi type connections. |
| Browser |
A web browser is software (Internet Explorer, Firefox) used to retrieve and organize information from various resources connected to the internet. Without a web browser, the internet can only be viewed in code. |
| Custom Builder |
A builder who constructs a home or building based on plans created by the owner. |
| Custom Home |
A structure designed by an architect hired by the owner. |
| Customer |
A prospective buyer of real estate. Not to be confused with a property seller, who is the listing broker's client. |
| Direct Survey Method |
The use of personal interviews with key personnel in all major firms within a given community to determine the percentage of a firm’s revenues obtained from sales made outside the local economy for the purpose of estimating firm-specific basic employment and, by aggregation, the total basic employment in that community; a method that is known to be costly and time consuming. |
| Disability Insurance |
An insurance policy that covers an individual's ability to produce income. |
| Down Drain |
A drain pipe or similar conduit to allow water to flow from the rain gutter at the edge of the roof to the ground. |
| Escrow Company |
Firms that act as neutral third parties to ensure that all conditions that the buyer, seller and lender establish in a real estate transaction are met. |
| Escrow Disbursements |
The use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance, and other property expenses as they become due. |
| Escrow Fee |
A fee covering all the usual escrow services except for title insurance. The fee is normally determined by the amount of money involved in the transaction. |
| Flexible Scheduling |
An alternative work arrangement providing employees with greater flexibility in meeting their own personal
needs by allowing them to work nontraditional schedules (i.e., compressed workweek, summer hours or flextime). |
| Flexible Staffing |
The practice of utilizing temporary employees,independent contractors or part-time employees to fill vacancies instead of hiring a traditional full-time permanent employee workforce. |
| Flextime |
Variable work hours requiring employees to work a standard number of core hours within a specified period
of time, allowing employees greater flexibility in their starting and ending times. |
| Government Furnished Materials |
Reproducible materials (camera ready copy, electronic mechanicals, or negatives), furnished samples, and occasionally supplies, provided to the
contractor by the Government for the purpose of performing the contract. |
| Government Impact (credit) Card |
Federal government credit card that cardholders may use to make purchases up to $2,500. |
| Government Paper Specification Standards |
The Congressional Joint Committee on Printing's published specifications for printing papers to be used by Federal agencies and the methods for testing those papers. |
| History Pattern |
A series of numbers displaying month-by-month information for the past 24 months for each account present in the credit report. This information includes payment status, and therefore any delinquencies (both past and present) within that timeframe. This is one of the most important pieces of information used for credit scoring. Also known as grid, history pattern. |
| Hold |
Used to indicate that a certain amount of a customer's balance may not be withdrawn until an item has been collected, or until a specific check or debit is posted. |
| Home Equity |
The part of a home’s value that the mortgage borrower owns outright. This is the difference between the fair market value of the home and the principal balances of all mortgage loans. |
| Implementation Guide |
A document explaining the proper use of a standard for a specific business purpose. The X12N HIPAA IGs are the primary reference documents used by those implementing the associated transactions, and are incorporated into the HIPAA regulations by reference. |
| Implementation Specification |
Under HIPAA, this is the specific instructions for implementing a standard. |
| Improvement Plan |
A plan for measurable process or outcome improvement. The plan is usually developed cooperatively by a provider and the Network. The plan must address how and when its results will be measured. |
| Judicial Branch |
one of the three branches of our government with the purpose of interpreting laws. |
| Judicial Review |
The power of a court to review legislation or other governmental action in order to determine its validity with respect to the U.S. Constitution or state constitutions. |
| Juris Belli |
“Under the law of war.” That part of the law of nations that defines the rights of belligerent and neutral nations during wartime. |
| Kinesiology |
The branch of physiology that studies human movement. |
| Kirschner Wire (k-wire) |
A sterilized stainless steel wire or pin used to hold bone fragments together. |
| Klumpke’s Palsy |
Paralysis or weakness of the forearm or hand due to brachial plexus injury during childbirth. Also known as Dejerine-Klumpke Palsy or Klumpke’s Paralysis. |
| Legacy |
A disposition of money or personal property by will. |
| Legal Blemish |
Blemishes on a piece of property, such as a zoning violation or fraudulent title claim. |
| Legal Description |
A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony. |
| Manpower Planning |
The process of assessing an employer’s current workforce content and composition in order to anticipate future staffing requirements needed to meet business goals and requirements. |
| Material Safety Data Sheet (msds) |
Required by OSHA, an MSDS is a detailed description of each hazardous chemical located in the workplace,which includes information regarding potential health risks, symptoms and treatment measures to be taken if exposure occurs. |
| Matrix Organization |
An organizational structure where employees report to more than one manager or supervisor. |
| Nonexertional Limitation |
An impairment-caused limitation of function which directly affects capability to perform work activities other than the primary strength activities. |
| Northeastern Program Service Center (nepsc) |
An SSA regional payment center located in Jamaica, New York. |
| Number Holder (nh) |
Wage earner – Title II. |
| Online Real Estate Listings |
Properties listed for sale on the Internet. |
| Open-buyer-agency-agreement |
This agreement is a nonexclusive agency contract between a broker and a buyer. It permits the buyer to enter into similar agreements with an unlimited number of brokers. The buyer is obligated to compensate only the broker who locates the property the buyer ultimately purchases. |
| Open-end Loan |
A mortgage loan that is expandable by increments up to a maximum dollar amount, the full loan being secured by the same original mortgage. |
| Prospective Rating |
The determining of premium rates based on loss experience over a specified past period of time. The state rates for workers' compensation are prospectively rated based on prior loss experience for the state. |
| Party Of Interest |
The claimant, employer, carrier and any statutory fund that may be liable in the particular case. |
| Peo |
Professional Employer Organization |
| Quiet Title |
A court action to remove a cloud on the title. |
| Quitclaim Deed |
A deed that transfers without warranty whatever interest or title a grantor may have at the time the conveyance is made. |
| Qualified Domestic Relations Order (qdro) |
A court ruling stating that a portion of one spouse's pension is awarded to the other spouse as part of the equitable distribution of the marital assets. |
| Real Bills Doctrine |
An explanation of bank liquidity described by Adam Smith: short-term loans advanced to finance salable goods on the way from producer to consumer are the most liquid loans the bank can make. These are self-liquidating loans because the goods being financed will soon be sold. The loan finances a transaction and the transaction itself provides the borrower with the funds to repay the bank. Adam Smith described these loans as liquid because their purpose and their collateral were liquid. The goods move quickly from the producers through the distributors to the retail outlet and then are purchased by the ultimate cash-paying consumer. Also called the real bills doctrine. |
| Reference Asset |
A term used in credit swap transactions to identify the underlying instrument. In the most simple structure, cash flow from the reference asset is paid by the asset owner called a protection buyer to a counter-party known as a protection seller. The reference asset is often a marketable, corporate bond rather than a corporate loan from the same obligor because the bonds provide price information than loans which are less homogenous and less marketable |
| Regulation P |
A Federal Reserve Board regulation covering privacy of consumer financial Information. Regulation P governs the treatment of nonpublic personal information about consumers by financial institutions. The regulation also requires financial institutions to provide notice to customers about privacy policies and practices and the right of a consumer to prevent a financial institution from disclosing nonpublic personal information about him or her to nonaffiliated third parties by "opting out" of that disclosure. |
| Shower Pan |
A waterproof "pan" placed beneath the floor tiles or concrete base of a shower that prevents leaking. |
| Signatory |
1. having signed or joined in signing a document. 2. a signer, or one of the signers, of a document. |
| Sill Cock |
An exterior threaded faucet connection for garden hoses that provides water outside a home. |
| Township Squares |
When the horizontal township lines and the vertical range lines intersect, they form squares. These township squares are the basic units of the rectangular survey system. Townships are 6 miles square and contain 36 square miles (23,040 acres). |
| Township Tiers |
Township lines form strips of land called township tiers. These township tiers are designated by consecutive numbers north or south of the base line. |
| Trust Funds |
Money or other things of value that are received by a broker or salesperson on behalf of a principal or any other person, and which are held for the benefit of others in the performance of any act(s) for which a real estate license is required. |
| Uniform Set Of Health Services |
A broad range of health services including: (1) a comprehensive and affordable "Uniform Benefits Package" (see above) of personal health services delivered by competing certified health plans; (2) a variety of services provided through the public health system; and (3) health system support, such as clinical research and health personnel education. (PHIP, 1996) |
| Uninsured |
People who lack health insurance. |
| Uninsured Population |
An estimated 34 million Americans do not have health insurance. 56% are workers. 28% are children. 16.5% are non-working adults. 83% of workers have private health insurance. |
| Voluntary Enrollee |
Certain individuals aged 65 or older or disabled, who are not otherwise entitled to Medicare and who opt to obtain coverage under Part A by paying a monthly premium |
| Veterans Administration (va) Benefits |
Benefits given by the federal government to people who have been in “active” service in the military, naval, or air service (veterans, not career officials) and, under certain conditions, to their family members. These benefits include pensions, educational stipends and health care, among others. Veterans can receive VA health care services only at VA facilities. |
| Vinyl Chloride |
A chemical compound, used in producing some plastics, that is believed to be oncogenic. |
| Whole Loan Pools |
Mortgage-backed securities not issued by or guaranteed by a U.S government agency or U.S. government sponsored enterprise. The mortgage loans comprising whole loan pools are generally loans that do not meet GNMA, FNMA, or FHLMC requirements. Whole loan pools may be structured as fixed-rate pass-through securities, floating-rate pass-through securities, or CMOs. Also known as private pools or private label pools. |
| Whole Loans |
A phrase used to describe mortgage loans when the owner of the debt also owns the servicing rights. In other words, mortgage loans that have not had the servicing separated. |
| Wholesale Banking |
Banking business conducted exclusively or almost exclusively with large corporations, governments, financial institutions, trusts, etc. |
| X12f |
A subcommittee of X12 that defines EDI standards for the financial industry. This group maintains the X12 811 [generic] Invoice and the X12 820 [generic] Payment & Remittance Advice transactions, although X12N maintains the associated HIPAA Implementation guides. |
| X12j |
A subcommittee of X12 that reviews X12 work products for compliance with the X12 design rules. |
| X12n |
A subcommittee of X12 that defines EDI standards for the insurance industry, including health care insurance. |
| Yield Curve Slope |
Yield curves also describe the amount of difference between short-term and long-term rates. A yield curve that depicts the customary situation of long-term rates higher than short-term rates is called an upward sloping or positively sloped yield curve. A yield curve depicting the less common occurrence of short-term rates higher than long-term rates is called a downward sloping, negatively sloped, or inverted yield curve. When long-term rates are much higher than short-term rates, the yield curve is steep. When long-term rates are virtually the same as short-term rates, the yield curve is flat. |
| Yield Curve Smoothing |
Also called smoothing. The name for a set of alternative techniques for creating continuous yield curves by connecting the dots between observed. If, for example, we have observed rates for 1, 2, 3, 5 and 10 year maturities, smoothing is the technique used to infer rates for all maturities between those known points. The known points are called "knot points". The simplest smoothing technique is "linear smoothing". The most commonly used technique is "cubic splines". For forward rates, the most accurate method is called "maximum forward rate smoothing". |
| Yield Curve Twist |
A phrase used to describe changes in prevailing interest rates that change the shape/slope of the yield curve. For example, a small increase in short-term rates and a large increase in lon- term rates that occur at the same time. A manifestation of yield curve risk. |
| Zero Cost Collar |
The purchase of a floor (or cap) option with the proceeds realized from simultaneous sale of a cap (or floor) option. The levels of the floor and cap are selected so that the proceeds from the option sold exactly offset the cost of the option purchased resulting in a net transaction cost of zero. |
| Zero Balance |
The balance status of owing no money to the lender. On revolving loans, this means the previous balance was paid in full and nothing was charged to the account since the last billing statement. On installment loans, this means the borrower has finished paying back the loan. Note: Some lenders do not send billing statements when accounts have zero balances. |
| Zoning |
Regulation of private land use and development by local government, including building codes. |
