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Whole loan |
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Whole loanA term that distinguishes an investment representing an original mortgage loan from a loan representing a participation with one or more lenders.Whole loan Similar MatchesMake whole provisionMake whole provisionRelated to the lump-sum payments made when a loan or bond is called, equal to the NPV of future loan or coupon payments not paid because of the call. The payment can be significant and negate the attractiveness of a call. WholesalerWholesalerAn underwriter or a broker-dealer who trades with other broker-dealers, rather than with the retail investor. Wholesale mortgage bankingWholesale mortgage bankingThe purchasing of loans originated by others, for the acquisition of the servicing rights. Unit linked whole of life assuranceUnit linked whole of life assuranceSee: 'whole life assurance'. Whole life insuranceWhole life insuranceIn the US, a life insurance policy, with level premiums, which provides a stated benefit on the death of the life insured and a savings element which accumulates a cash value. The dividends or interest are allowed to build up tax-deferred. The insured is able to redeem the cash value or borrow against it in what is known as a policy loan. Any part of a loan which is unpaid at the death of the insured is deducted from the face value. |
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