Loan Basics

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Terms in Loan Basics

A-Credit

A-Credit is a high grade that a lender may assign to a loan applicant based on their credit score and other factors.  read more

Accelerated Payments

The term accelerated payments refers to voluntary payments made by a borrower in order to reduce the outstanding balance of their loan more rapidly. read more

Acceleration Clause

An acceleration clause is included in certain loan agreements allowing the lender to end a contract and demand payment if the borrower violates terms of the agreement. read more

Acceleration Covenant

An acceleration covenant is a clause in certain loan agreements allowing the lender to end a contract and demand payment if the borrower violates terms of the agreement. read more

Acquittance

An acquittance is a document which shows that a debtor has been released from a debt obligation. read more

Add-On Interest

Add-on interest is a method of calculating a loan's cost by combining principal and interest into a single amount owed, which is costly to the borrower. read more

Adjustment Credit

Adjustment credit is a short-term loan, which a Federal Reserve Bank extends to a smaller commercial bank. read more

Advance Rate

An advance rate is the maximum percentage of the value of collateral that a lender is willing to extend as the loan amount. read more

Adverse Action

In finance, the term adverse action refers to a type of notice given by a lender when a borrower's credit application has been denied. read more

Adversely Classified Asset

An adversely classified asset is a type of loan classification in which the loan or other asset is considered, to some degree, to be impaired. read more

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