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GLOSSARY
Current production rate
The current production rate is the highest interest rate allowed on mortgage-backed securities that are guaranteed by Ginnie Mae.
Current ratio
The current ratio is the quotient of current assets divided by current liabilities. Current assets include cash and property that's expected to be converted to cash within 12 months. Current liabilities are debts that are expected to be paid off within 12 months. The ratio provides an indication of a company's liquidity, as well as its ability to pay its short-term debts.
Current year tax
Current year tax refers to taxes payable in the same year. Businesses and high-income individuals often make quarterly tax payments in the year that they are incurred rather than after the tax year ends.
Custom builder
A contractor that constructs or remodels houses based on plans submitted by the client.
Custom home
A house built according to plans which have been jointly designed by the owner/buyer and a hired architect.
Customer Identification File (CIF)
A customer identification file, or CIF, is a digital set of information about a customer. In banking, a CIF would contain the customer's account and credit data.
Cyberspace
Cyberspace describes networks of computers, through which information is exchanged and human interaction takes place, regardless of geographical proximity. Science fiction author William Gibson coined the term in his 1984 novel Neuromancer.