RECAST TRIGGER
A clause in a loan contract that causes an unscheduled recasting of the loan's remaining amortization schedule if and when certain conditions are met. A recast trigger is most often associated with negative amortization mortgages, which typically have a trigger that recasts the remaining amortization schedule when the mortgage's outstanding principal balance reaches a certain percentage - usually 110-125% of the mortgage's original principal balance.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
Buy Stops Above
Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
Computer program, process, or system processing the information entered by the user using pre-programmed logic in order to produce the user’s ...
Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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Traders look at two primary factors when choosing the instruments they desire to trade: liquidity and volatility. Liquidity is the extent to which ...
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