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GLOSSARY
Nellie Mae
An affiliate of Sallie Mae loan servicing. A large non profit provider of student loans under the Federal Family Education Loan Program.
Nest egg
Nest egg is a slang term for an amount of money that's saved for a special purpose. Individuals commonly build nest eggs for things like college tuition, retirement, or a new home purchase.
Net cash flow
Investments that generate income after the principal, interest and insurance expenses have been paid.
Net debt to assessed valuation
Net debt to assessed valuation is a measure of the financial health of a municipality. As such, it's an important metric in evaluating the risk of bonds issued by that municipality. The ratio is calculated by the value of the municipal's net debt divided by the combined taxable value of properties in that municipality's jurisdiction.
Net debt to estimated valuation
Net debt to assessed valuation is a measure of the financial health of a municipality. As such, it's an important metric in evaluating the risk of bonds issued by that municipality. The ratio is calculated by the value of the municipal's net debt divided by the combined taxable value of properties in that municipality's jurisdiction.
Net income
The amount left of your income after taxes have been paid.
Net interest margin securities - NIMS
Net interest margin securities, or NIMS, are investment vehicles that pay investors the excess cash flows generated from the repayment of an underlying group of mortgage loans.
Net operating loss (NOL)
A net operating loss (NOL) occurs when a business is unprofitable from a tax standpoint. NOLs can be used to recover past taxes paid or carried forward to offset future taxes.
Net worth
The total sum of all of your assets minus all debts. Assets include your home, car, investments, etc. Debts include mortgages, credit cards, and loans.
New home sales
New home sales is an economic indicator that tracks the number and prices of new homes sold during a month. The new homes sales metrics are published by the U.S. Department of Commerce's Census Bureau.
NFCC (National Foundation for Credit Counseling)
An organization that educates consumers about using and managing credit. This nonprofit company is the parent group for Consumer Credit Counseling Services.
Niche banks
Niche banks are financial institutions that target a specific customer base. For example, a bank that aligns its marketing messages and product offerings to attract people who enjoy extreme roller coasters would be a niche bank.
Nigerian Scam
Nigerian scam is the name of a prevalent hoax that lures an individual into handing money over to a stranger. The scam often involves an email letter that describes a huge cash commission; the commission is said to be available to the person who helps facilitate a large monetary transfer. The scammer will ask for money upfront to cover transaction costs. If the money is provided, the scammer will either try to get more money, or simply disappear.
NIMBY (Not In My Backyard)
NIMBY stands for Not In My Backyard. The term refers to the tendency for individuals to oppose having certain developments located near their homes, even though they may not be opposed to those developments in theory. Consider a halfway house, for example; residents might argue against having a halfway house located next door, even if they aren't uniformly opposed to halfway houses in general.
No cash out refinance
A home mortgage for a lower interest rate in an amount that doesn't exceed closing costs.