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GLOSSARY
Electronic wallet
An electronic wallet is a digital account that holds credit card and other financial information. An individual or business having an electronic wallet can make Internet purchases at participating retailers without having to type in identification and credit card information manually.
Eligible accounts
Eligible accounts, in lending, are accounts receivable that can be included in a corporate borrower's collateral base. Financial institutions will often take a company's accounts receivable as security in a debt facility. Since some accounts receivable have a higher chance of becoming uncollectible than others, the loan agreement will define eligible accounts and ineligible accounts. Eligible accounts are included in the collateral base, and ineligible accounts are not.
Emergency fund
An emergency fund is a supply of money that's being saved for unexpected circumstances. Personal finance experts recommend that households keep enough cash on hand to cover three to six months of living expenses. Most people choose to keep the money in a highly liquid account, such as a savings account.
Eminent Domain
The constitutional right of a government to take over private property for public use. The most common use of this right is for public projects like roads, military installations, and public buildings. The owner of the property is typically given compensation.
Employee stock option
An employee stock option is the right of an employee to purchase shares of company stock at a certain price. Employee stock options are granted to employees by the employer, usually as an incentive. Employee stock options are not traded on an exchange.
Employer assisted housing
An agreement between an employer and a lender to help employees finance and buy a home.
Employer identification number
Employer identification number, or EIN, is a number assigned to businesses and other entities for tax purposes. A business would obtain an EIN by making an application with the IRS.
Employer-assisted housing
Employer-assisted housing is any type of program that involves a company providing for the living arrangements of its employees. Examples include employer-sponsored rental assistance, or a partnership between an employer and lender that makes home financing more affordable. The purpose of employer-assisted housing is to make it possible for employees to live close to the workplace.
Empty nesters
People whose children have grown up and moved out. It is around this time that they may be in the market for a smaller house.
Encroachment
A home improvement that illegally extends onto another owner's property or impedes the neighbor's use of that property, such as a poorly placed fence.
Encryption
This is a way to prevent anyone but the intended recipient from reading the information by obscuring the information and making it unreadable without a code or special knowledge.
Encumbrance
Is anything that restricts the fee simple title to property is an encumberance, It could be in the form of mortgages, leases, easements etc.
End loan
The final mortgage loan to purchaser of a property, as opposed to a construction or other interim loan.
Endorsement
An endorsement is a signature that authorizes the transfer of a negotiable instrument. Commonly, personal checks require the endorsement of the payee in order to be deposited or cashed. Endorsement can also refer to an insurance policy rider or amendment.
Endowment
An endowment is an income-earning asset that's been donated to a non-profit group or institution. The income from the asset, and sometimes part of the principal, are to be used for a specific, donor-requested purpose. Most endowments are in the form of cash and securities.