Single-Disbursement Lump-Sum Price Plan Definition

Single-Disbursement Lump-Sum Price Plan Definition

What Is a Single-Disbursement Lump-Sum Payment Plan? A single-disbursement lump-sum payment plan allows a borrower to receive all reverse mortgage proceeds at once when the loan closes. This means that there are no monthly disbursements or other additional proceeds later. The single-disbursement lump-sum payment plan has a fixed interest rate, unlike other reverse mortgage payment

Single Entity Coverage

Single Entity Coverage

What Is Single Entity Coverage? Single entity coverage is a type of insurance policy that covers all real property in a condominium, including both the common areas shared by all property owners as well as the individual units. Key Takeaways Single entity coverage is an insurance policy that covers both the common areas shared by

Single Per month Mortality (SMM)

Single Per month Mortality (SMM)

What Is Single Monthly Mortality? Single monthly mortality (SMM) is a measure of the prepayment rate of a mortgage-backed security (MBS). As the term suggests, the single monthly mortality measures prepayment in a given month and is expressed as a percentage. For investors of mortgage-backed securities, prepayment of mortgages is usually undesirable since future interest

Single-Best elegance Deferred Annuity (SPDA): What They Are

Single-Best elegance Deferred Annuity (SPDA): What They Are

What Is a Single-Premium Deferred Annuity? A single-premium deferred annuity (SPDA) is an annuity established with a single payment featuring investment growth solely during the accumulation phase. That growth occurs on a tax-deferred basis until annuitization, at which time regular payments will begin. Single-premium deferred annuities can be either fixed or variable, and distributions are

Single-Serve as Reverse Mortgage

Single-Serve as Reverse Mortgage

What Is a Single-Purpose Reverse Mortgage? A single-purpose reverse mortgage is an agreement through which lenders make payments to borrowers in exchange for a portion of the borrower’s home equity. Borrowers must use these payments for a specific purpose approved by the lender. These may be contrasted with proprietary reverse mortgages and home equity conversion

Sinker Definition

Sinker Definition

What Is a Sinker? A sinker is a colloquial term for a bond whose payments, coupon, and principal, are paid by a sinking fund set up by the issuer. Key Takeaways A sinker is a colloquial term for a bond whose payments, coupon and principal, are paid by a sinking fund set up by the