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Used in context of general equities. See: Away from you.



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Similar Matches

Day around order

Day around order

A day order that supersedes (cancels and ../../finance-glossary/s) the previous order by altering its size or price limit.


Wrap Around Mortgage

Wrap Around Mortgage

A second or junior mortgage with a face value of both the amount it secures and the balance due under the first mortgage. The mortgagee under the wrap-around collects a payment based on its face value and then pays the first mortgagee. It is most effective when the first has a lower interest rate than the second, since the mortgagee under the wrap-around gains the difference between the interest rates, or the mortgagor under the wrap-around may obtain a lower rate then if refinancing.


Wraparound mortgage

Wraparound mortgage

A loan to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both loans are made to the lender who holds the wraparound loan.


Designated order turnaround system (DOT)

Designated order turnaround system (DOT)

Computerized order entry system that allows orders to buy or sell large baskets of stock to be transmitted immediately to the specialist on the exchange, where execution will occur quickly, depending on the basket size. Also used for odd-lot transactions to occur at the prices and quantities available. See: AOS.


Wraparound mortgage

Wraparound mortgage

A second mortgage that leaves the original mortgage in force. The wraparound mortgage is held by the lending institution as security for the total mortgage debt. The borrower makes payments on both loans to the wraparound lender, which in turn makes payments on the original senior mortgage.


Further Suggestions

Wraparound annuity
Super Designated Order Turnaround System
Turnaround time
Wraparound
Turnaround
All inclusive Trust Deed (wrap around mortgage)


 
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