waterfall structure n.— «A single trust might be further sliced and diced to create different derivative securities, each one subordinated to the next in terms of the claim on cash flow. In the event of a default, the highest-rated—and...
tramp dread n.— «My excuse is that, as a freelance journalist, I do not receive any paid holiday. If I stop working, the money stops coming in—and my finances are so precariously balanced that simply forgoing one week’s wages could bring...
thin file n.— «Even if you have not used credit much and therefore don’t have an extensive credit history, known in banking as a “thin file,” you could still qualify for a home mortgage.» —“KeyBank Plus Offers a Pathway to...
bring-down n.— «At the same time the advanced due-diligence process, known as “bring-down,” being undertaken by B&B’s advisers had started to turn up some disturbing figures in the mortgage book.» —“B&B had to pass the...
cash for keys n.— «Contractors say the damage at vacant homes can be significant, though it is not always clear who the culprit is. It could be an angry homeowner upset about losing a home, but it also could be vandals and thieves...
donut economy n.— «Economists now refer to the US as having a “donut economy”- it is hollowed at the center, heavily reliant on cheap imports from China, excessive military spending and a corrupted stock market to drive it. The US...