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GLOSSARY
Curb appeal
How a home looks from the street.
Cure period
A cure period is a contractually designated timeframe during which a borrower, or party to a contract, can fix a default. If a commercial borrower violates a financial covenant, that borrower can avoid default by getting the business back into compliance before the cure period ends.
Current assets
Current assets are line items on a balance sheet that represent cash and property that will be converted to cash in 12 months or less. Typical current asset accounts are inventory, accounts receivable, prepaid expenses, and short-term investments.
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.
Date of maturity
Date of maturity is the date on which final payment is due for a loan or obligation.
Dating
Dating, in lending, is the practice of liberally extending credit to a borrower, beyond what would be offered in normal practice.
Day loan
A day loan is a type of funding offered to brokers for the purchase of securities. Funds are advanced with the promise that the broker will deliver the purchased securities to the bank later that same day. Once the securities are received, they become collateral, and the loan is converted to a broker's loan.
Days on the market
The time between the property being listed and either the sale of the property or the property being taken off the market.
Dear money
Dear money is an economic term describing a situation where money is in short supply. Individuals and borrowers are generally unable to secure loans at affordable rates during a dear money period.