scratch and dent loan n. a loan or mortgage that has become a risky debt investment, especially one secured with minimal documentation or made by a borrower who has missed payments. (source: Double-Tongued Dictionary)
scratch and dent mortgage n.— «Hanover’s primary niche is buying “scratch and dent” mortgage portfolios that for one reason or another do not qualify for Fannie Mae or Freddie Mac.» —“Hanover Weathers REIT...
tote a note v. phr. to finance a loan; in automobile sales, used attributively to connote dealer-financed loans for used cars. (source: Double-Tongued Dictionary)
toxic waste n.— «Basis Capital had assets worth $1 billion as recently as May, before reporting that its Aust-Rim Fund and Yield Fund lost 9 percent and 14 percent, respectively, in June. The funds ran into trouble by investing in the...
greenprint n.— «The Greenprint is a joint effort of the Trust for Public and the Cornwall-based Housatonic Valley Association, which, according to HVA’s Web site “are working together to initiate a community-based mapping...
recovery officer n.— «A new gang of robbers is on the city roads. They can deprive you of your car while you are heading to attend a cremation or are out with your family for the evening. They are law unto themselves and its enforcers as...