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GLOSSARY
Dual agency
When a real estate agent or broker represents both the buyer and the seller in a transaction.
Dual apper
Dual apper is a slang term for a mortgage borrower who completes mortgage loan applications with more than one lender. Borrowers do this to keep their options open and protect themselves from last-minute rate and fee changes.
Dual Income, No Kids - DINKS
Dual Income, No Kids, or DINKS, describes a childless household supported by two streams of income. DINKS are significant to producers of high-end, luxury items, because they generally have large discretionary incomes.
Dual index mortgage
A dual index mortgage, or DIM, is a real estate property loan that uses an interest rate index to accrue interest expense, and a wage and salary index to calculate the monthly payment. If the payment doesn't cover the monthly accrued interest, the difference is added into the loan balance. DIMs are not available in the U.S., but they're popular in some Latin American countries.
Dually Employed With Kids - DEWKS
Dually Employed With Kids, or DEWKS, describes a household with children that's supported by two streams of income. DEWKS are an important demographic for companies that provide products and services related to children, such as toys, clothes, learning tools, etc.
Due date
The due date is the date on which a payment must be made. If the required payment isn't made on or before the due date, it's considered past due.
Due on sale clause
An agreement in the loan contract that demands the loan be paid off when the property is sold.
DUNS number
A DUNS number is an nine-digit identifier that's assigned to businesses by Dun & Bradstreet (D&B). D&B collects and maintains information on businesses' credit and payment history, and the DUNS number is used to locate a business' information within D&B's database. DUNS stands for data universal numbering system.
Duplex
Two separate houses under one roof.
Durables
Durables are consumer goods that aren't consumed. Examples include furniture, consumer electronics, kitchen appliances, etc. Food is an example of a non-durable good.
Duration gap
Duration gap refers to the difference between the lifespan of a company's assets, and the lifespan of its liabilities. Analysis of duration gap is done to quantify the level of interest rate risk a company has. Duration gap is positive when assets have a longer duration than corresponding liabilities. This means that a company will benefit from falling interest rates, because the cost of liabilities will decrease faster than the value of the assets.
Dutch Tulip Bulb Market Bubble
The Dutch tulip bulb market bubble occurred in the early-1600s. Tulips became a status symbol among the upper classes of Holland; strong demand drove market speculation, which sent the prices of tulips bulbs to unsustainable levels. Bulbs were traded on stock exchanges, and novice investors were selling off personal assets to participate in tulip investment. In 1637, prices dropped, and tulip bulbs were sold off in a panic. Many investors lost everything as a result
E-file
E-file is an IRS program that allows U.S. taxpayers to submit their returns electronically. The benefits of e-filing are expedited processing and reduced paper usage.
Early action
Early action is an optional admission process offered by some universities and colleges. Students can apply to the school earlier and receive a more rapid response on their application. Early action applications are generally due by November 1 of the student's senior year; the school then notifies the student of the decision before January.
Early closing cost reimbursement
Some lenders waive underwriting costs when a line of credit is opened in anticipation of future profits. If the account closed early, the lender may impose those fees retroactively.