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GLOSSARY
Negative-equity financing
Negative-equity financing is a loan that's funded for an amount that exceeds the value of the collateral asset. This can happen with car loans; a buyer might want to trade in a vehicle that's depreciated below the outstanding loan balance. The new auto loan would have to cover the cost of the new car, plus the difference between the old loan balance and the old vehicle's trade-in value.
Negatively amortizing loan
A negotiable instrument is a written document that states a promise to pay the holder. Checks, acceptances, and bills of exchange are negotiable instruments.
Negotiable instrument
A negotiable instrument is a written document that states a promise to pay the holder. Checks, acceptances, and bills of exchange are negotiable instruments.
Negotiable order of withdrawal (NOW) account
A negotiable order of withdrawal (NOW) account is an interest-earning bank deposit account against which the accountholder can write drafts.
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.