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Payment Cap |
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Payment CapA maximum amount for a payment under an Adjustable Mortgage Loan, regardless of the increase in the interest rate. If the payment is less than the interest alone, negative amortization is created.Payment Cap Similar MatchesZero prepayment assumptionZero prepayment assumptionThe assumption of payment of scheduled principal and interest with no payments. Balloon PaymentBalloon PaymentThe unpaid principal amount of a loan due on a specific date in the future. Usually the amount that must be paid in a lump sum at the end of the term. Discount paymentDiscount paymentThe difference between the face value and the price paid for a security. Balance of payments surplusBalance of payments surplusA number summarizing the state of a country's international transactions, usually equal to the balance on current account plus the balance on capital account. This equals zero* and is uninformative under the modern definition of the latter, but with official reserve transactions excluded, or omitting also other volatile short-term capital-account transactions, it indicates the stress on a regime of pegged exchange rates. Late paymentLate paymentA payment a lender receives after the due date has passed. Further SuggestionsInterest paymentsmaintenance payments prepayment fee FHA prepayment experience Payment default Prepayment penalty Payments netting Mortgage payment protection insurance (MPPI) repayment mortgage Lag response of prepayments Clearing House Interbank Payments System (CHIPS) Graduated Payment Mortgage Payments pattern Payment shock European Payments Union Monthly repayment Micropayment Payment float Payments imbalance Balance of payments Stop payment Standard payment calculation Prepayments Repayment term Early repayment period |
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