LENDER CONFIRMATION AUCTION
A foreclosure auction by which the lender, usually a bank, must approve and accept the highest bid. This is in contrast to an absolute auction where the winning bid gets the property. Usually advertised as "subject to lender confirmation", it is still done as an auction where engrossed bid on the property but does not automatically go to the highest bidder. It is conducted when the lender pushes a foreclosure but won’t agree to a bid price below its reserve price.
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Grant Deed
Legal document used to transfer title to real property or real property interest. It contains the name of the individual or entity transferring the ...
Underlying Security
Underlying Security is a financial instrument on which the value of a derivative is based.
Savings Bond Plan
Savings Bond Plan is a program that allows employees to purchase US savings bonds through payroll deductions.
Max Pain
The point at which option contracts expire at the maximum loss. The term sprung from Maximum Pain theory, which means most investors who buy and ho ...
Yield Maintenance
Yield Maintenance is a prepayment premium allowing an investor to have the same yield, thus make it seem like the borrower has settled all of the m ...
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