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Day around order |
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Day around orderA day order that supersedes (cancels and ../../finance-glossary/s) the previous order by altering its size or price limit.Day around order Similar MatchesAround usAround usUsed in context of general equities. See: Away from you. Wraparound mortgageWraparound mortgageA 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. TurnaroundTurnaroundSecurities bought and sold for settlement on the same day. Also describes a firm that has been performing poorly, but changes its financial course and improves its performance. Turnaround timeTurnaround timeTime available or needed to effect a turnaround. Wrap Around MortgageWrap Around MortgageA 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. Further SuggestionsWraparound mortgageWraparound annuity All inclusive Trust Deed (wrap around mortgage) Wraparound Super Designated Order Turnaround System Designated order turnaround system (DOT) |
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