Business and Personal Finance Dictionary

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• REDRAW - A feature which lets you make extra payments on your mortgage and then reborrow the money when...
  
  
• REDRAW FACILITY - Redraw facility allows you to make additional repayments on your mortgage, and then h...
  
  
• REDRAW FEE - Fee charged to cover or partially cover the lender's internal costs of allowing the borrow...
  
  
• REDUCTION CERTIFICATE - A mortgage statement setting out the amount owing on the loan as of a given dat...
  
  
• REDUCTION CERTIFICATE (PAYOFF STATEMENT) - The document signed by a lender indicating the amount requir...
  
  
• REDUCTION-OPTION LOAN (ROL) - A hybrid of a fixed-rate and adjustable-rate mortgage. An ROL matches the...
  
  
• REFCORP - Resolution Funding Corporation
  
  
• REFERENCE ASSET - A term used in credit swap transactions to identify the underlying instrument. In the...
  
  
• REFERENCE RATE - An interest rate used as an index rate. For example, if a loan pays interest at a rate...
  
  
• REFERENDUM - when a legislative act is referred for final approval to a popular vote by the electorate,...