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In multiplicative form, we traditionally write xy for the combined action "first do y, then do x"; so that ab is the action RGB ↦ RBG ↦ BRG, i.e., "take the last block and move it to the front". If we write e for "leave the blocks as they are" (the identity action), then we can write the six permutations of the set of three blocks as the ...
In finance, default is failure to meet the legal obligations (or conditions) of a loan, [1] for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
An 'escape point' is the earliest control point in the control system following the root cause of a problem that should have detected that problem but failed to do so. The idea here is to consider not only the root cause, but also what went wrong with the control system in allowing this problem to escape. [ 1 ]
A personal loan is in default if you fail to make a scheduled payment on time. Reaching out to your lender early can help you avoid serious damage to your credit score and even legal action.
A standing order (or a standing instruction) is an instruction a bank account holder ("the payer") gives to their bank to pay a set amount at regular intervals to another's ("the payee's") account. The instruction is sometimes known as a banker's order. They are typically used to pay rent, mortgage or any other fixed regular payments.
Loans with high-risk features made in 2007 made up 29% of Fannie Mae's loans but accounted for 58% of the losses, 28% of the loans in 2008 but 75% of the losses, and 24% of 2009 loans but 69% of ...
Common types of debt owed by individuals and households include mortgage loans, car loans, credit card debt, and income taxes. For individuals, debt is a means of using anticipated income and future purchasing power in the present before it has actually been earned. Commonly, people in industrialized nations use consumer debt to purchase houses ...
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...