Ratio of annual mortgage payments divided by the initial principal of the mortgage. This only applies to loans involving constant payment. For example, a $500,000 loan with an annual payment of $50,000, has a mortgage constant of 10%....

A mortgage on which all settlement costs except per diem interest and escrows are paid by the lender and/or the home seller. A no-cost mortgage should be distinguished from a 'no-points mortgage,' which will have other settlement costs, and a 'no-cash-outlays mortgage,' on which settlement co...

Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the insurance commissioners to institute civil actions in the event they perceive broker violations (broker's conduct...

Measurement of the response of the cash flow of an insurance company to various interest rate scenarios; for example, how rising interest rates will affect the number of life insurance policies surrendered and thus the cash flow....