What Is Stated Income / Stated Asset Mortgage (SISA)? A stated income-stated asset mortgage (SISA) loan application allows the borrower to declare their income without verification by the lender. These loans were designed to ease the application process for buyers who have incomes that are difficult to document, such as the self-employed and those who
What Was the Slovenian Tolar (SIT)? SIT was the currency abbreviation for the Slovenian tolar, the official currency of Slovenia from October 1991 until December 2006. Slovenia joined the European Union (EU) in May 2004, and in January 2007 the country adopted the euro as legal tender. Key Takeaways The tolar was the national currency
What Is Six Sigma? Six Sigma is a set of techniques and tools for process improvement developed by a scientist in the 1980s at Motorola. Its methodology focuses on statistical improvements to a business process and advocates for qualitative measurements of success. Six Sigma practitioners are business people who use statistics, financial analysis, and project
What Is Six Sigma Certification? Six Sigma certification is a verification of an individual’s command of a well-regarded quality assurance method. Certifications for Six Sigma training are awarded in levels using a belt classification system similar to belt levels used in martial arts. Six Sigma is a set of quality management techniques and tools developed
What Is Skewness? Skewness is a measurement of the distortion of symmetrical distribution or asymmetry in a data set. Skewness is demonstrated on a bell curve when data points are not distributed symmetrically to the left and right sides of the median on a bell curve. If the bell curve is shifted to the left
What Is Skilled Labor? Skilled labor is a segment of the workforce that has specialized know-how, training, and experience to carry out more complex physical, or mental tasks than routine job functions. Skilled labor is generally characterized by higher or specialized education, as well as expertise levels attained through training and experience, and likewise generally
What Is a Skilled Nursing Facility? A skilled nursing facility is an in-patient rehabilitation and medical treatment center staffed with trained medical professionals. They provide the medically-necessary services of licensed nurses, physical and occupational therapists, speech pathologists, and audiologists. Skilled nursing facilities give patients round-the-clock assistance with healthcare and activities of daily living (ADLs). There
What Is a Skip-Payment Mortgage? A skip-payment mortgage is a home loan product that allows a borrower to skip one or more payments without any penalty. The interest accrued during the skipped periods will instead be added to the principal, and monthly payments will then be recalculated once they resume. Skip-payment mortgages are most common
What Is a Skip Account? A skip account, sometimes called a “skip,” is a borrower who defaults on a loan, which can include bail bonds, and “skips town” to avoid repayment without providing a correct forwarding address. Skip tracers are collection agents hired by lenders and bail bondsmen to find skip accounts and collect the
What Is Slander? The term slander refers to false statements made by one party against another. Slander is communicated verbally with the intent to defame the subject of the statements. Put simply, slander is a legal term used to describe defamation or the act of harming a person or business’s reputation by telling one or
