Terms with Tag Banking

  • Extended Warranty Definition,
    • A service contract that covers certain vehicle repairs or problems after the manufacturer's or dealer's warranty expires. Extended warranties are sold by vehicle manufacturers, dealers, and independent companies. With a new vehicle, the extended warranty must be purchased by the end of the first year of ownership.
  • Face Value Definition,
    • The value of an asset, or the size of an insurance benefit.
  • Fair Isaac Corporation (FICO) Company Est. 1956,
      Introduced the FICO® Score used in credit reports.
    • Falling Interest Rate Adjustable Rate Mortgage (FIREARM)Acronym,
      • Federal Business Development Bank (FBDB)Acronym, Canada,
          Now called the Business Development Bank of Canada.
        • Federal Employees Credit Union (Kingston) Credit UnionCompany, Ontario, Canada,
            A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
          • Federal Home Loan Mortgage Corporation (FHLMC)Acronym, United States,
              A US mortgage corporation also known as Freddie Mac.
            • Federal National Mortgage Association (FNMA)Company, United States,
                A US mortgage association also known as Fannie Mae.
              • Federal Reserve Board (FRB)Company,
                  A US banking term.
                • Federal Reserve System (FRS, Fed)Acronym & Abbreviation,
                    A US banking term.
                  • Fellow of the Canadian Bankers Association (FCBA)Acronym, Canada,
                    • Fellow of the Credit Union Institute of Canada (FCUIC)Acronym, Canada,
                      • Fidelity Bond Definition,
                        • Insurance that protects a business from losses due to employee fraud, such as theft, forgery or fraudulent trading.
                      • Fiduciary Definition,
                        • An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
                      • Fiduciary Duty Definition,
                        • A requirement that someone in a position of trust, such as a banker, real-estate agent, or title agent, must act in good faith and trust on behalf of a client.
                      • Filing Extension Definition,
                        • An additional amount of time to file your return. A filing extension, however, does not give you more time to pay your taxes.
                      • Finance Canada Company, Canada-wide,
                        • Federal department responsible for Canada's economic performance and regulation of financial institutions.
                      • Finance Charge Definition,
                        • Charges that include all of the interest expected to be earned over the life of a loan, in addition to the service charges, mortgage insurance premiums, and other loan-related charges.
                      • Financial Consumer Agency of Canada (FCAC) Company Est. 2001, Canada,
                          Established by the federal government to protect and educate consumers of financial products and services in Canada.
                        • Financial Crime Analysis (FCA)Acronym,
                          • Financial Groups Directive (FDG)Acronym,
                            • Financial Services Commission of Ontario (FSCO) Company Est. 1998, Ontario, Canada, Very Important,
                              • A regulatory agency of the Ministry of Finance that protects public interests and regulates insurance, pension plans, loan and trust companies, credit unions, caisses populaires, mortgage brokering, and co-operative corporations in Ontario.
                              Oversees the mortgage, insurance and pension industries in Ontario.
                            • Financing Entity Definition,
                              • An entity that purchases an insurance policy or settlement contract.
                            • Financing Expenses Definition,
                              • Expenses sustained from interest payments, financing, and dividends to shareholders.
                            • Finder Fee Definition,
                              • A fee paid by a party to another for services rendered.
                            • Finnish Credit UnionCompany, Ontario, Canada,
                                A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                              • Firm Commitment Definition,
                                • A lender's promise to lend money to a specific borrower on specified terms at a certain time.
                              • First Calgary Savings Credit UnionCompany, Alberta, Canada,
                                  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                                • First Credit Union (FCU) Company Est. 1939, British Columbia, Canada,
                                    Originated as Powell River Credit Union (PRCU). A Canadian NHA approved mortgage lender that offers all lending types and reverse mortgages.
                                  • First Nations Bank of Canada (FNBC)Company, Saskatoon, Saskatchewan, Canada,
                                      A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
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