borrower
A person that has applied, met specific requirements, and received a monetary loan from a lender. The individual initiating the request signs a promissory note agreeing to pay the lien holder back during a specified timeframe for the entire loan amount plus any additional fees. The borrower is legally responsible for repayment of the loan and is subject to any penalties for not repaying the loan back based on the lending terms agreed upon.
Related Terms
Related Terms on BusinessDictionary
overdraft
unsecured lender
indemnity insurance
loan servicing
credit standards
banker's lien
forbearance
conduit borrower
lender liability
credit life insurance
coupon book
setoff
cross-default clause
troubled debt restructuring
deed of trust
takedown
loan for consumption
loan for exchange
loan for use
prior charge
demand note
workout arrangement
wraparound mortgage
fixed and floating charge
secured lender
resolution to borrow
rescheduled loan
floating charge
Acquisition, Development, and Construction (ADC) loan
secured loan
charge-off
non-performing asset
doctrine of reasonable expectations
leniency clause
rule of 78
chattel mortgage
assumable mortgage
letter of demand
credit limit
secured creditor
loan settlement statement
cheap money
enhanced structural adjustment facility (ESAF)
letter of setoff
package clause
insider lending
closed-end loan
negative equity
release of lien
bank loan instrument
parity clause
credit spread
closed-end mortgage
security agreement
loan terms
beneficiary statement
loan workout
legal estate
linked financing
payment system
cross-collateral clause
loan instrument
London Club
bond anticipation note (BAN)
redemption period
shared appreciation mortgage (SAM)
money multiplier
field warehousing
liquidity trap
personal guarantee
skip payment clause
mortgage bill of sale
pledged revenue
collateral loan
deed given to secure a debt
surety
mortgage life insurance
open end mortgage
prepayment clause
cap agreement
default probability plan
commitment fee
time loan
prepayment penalty
accelerated amortization
IOU
total debt service (TDS)
mutual association
prime lending rate
cash cover
defeasance
jointly and severally
foreclosure order
trust receipt
negative pledge
loan grading
certificate of claim
accommodation loan
deficiency balance
junior mortgage
confidentiality agreement
right of foreclosure
non-conventional finance
recourse
non-recourse loan
certificate of indebtedness
deficiency judgment
unsecured lender
indemnity insurance
loan servicing
credit standards
banker's lien
forbearance
conduit borrower
lender liability
credit life insurance
coupon book
setoff
cross-default clause
troubled debt restructuring
deed of trust
takedown
loan for consumption
loan for exchange
loan for use
prior charge
demand note
workout arrangement
wraparound mortgage
fixed and floating charge
secured lender
resolution to borrow
rescheduled loan
floating charge
Acquisition, Development, and Construction (ADC) loan
secured loan
charge-off
non-performing asset
doctrine of reasonable expectations
leniency clause
rule of 78
chattel mortgage
assumable mortgage
letter of demand
credit limit
secured creditor
loan settlement statement
cheap money
enhanced structural adjustment facility (ESAF)
letter of setoff
package clause
insider lending
closed-end loan
negative equity
release of lien
bank loan instrument
parity clause
credit spread
closed-end mortgage
security agreement
loan terms
beneficiary statement
loan workout
legal estate
linked financing
payment system
cross-collateral clause
loan instrument
London Club
bond anticipation note (BAN)
redemption period
shared appreciation mortgage (SAM)
money multiplier
field warehousing
liquidity trap
personal guarantee
skip payment clause
mortgage bill of sale
pledged revenue
collateral loan
deed given to secure a debt
surety
mortgage life insurance
open end mortgage
prepayment clause
cap agreement
default probability plan
commitment fee
time loan
prepayment penalty
accelerated amortization
IOU
total debt service (TDS)
mutual association
prime lending rate
cash cover
defeasance
jointly and severally
foreclosure order
trust receipt
negative pledge
loan grading
certificate of claim
accommodation loan
deficiency balance
junior mortgage
confidentiality agreement
right of foreclosure
non-conventional finance
recourse
non-recourse loan
certificate of indebtedness
deficiency judgment
kicker
forward commitment
two step mortgage
non-depository financial institution
certificate of satisfaction
after-acquired clause
corporate image
future advances clause
non-recourse
right of redemption
character loan
agented credit
non-recourse financing
repossession
loan proposal
fixed charge
alienation
discounting of accounts receivable
negative covenant
grace period clause
right of rescission
renegotiated loan
alienation clause
discount loan
guaranteed loan
interest in advance loan
obligation bond
information asymmetry
secured debt
installment loan
closed mortgage
settlement cost
liquidity risk
bridge loan
sum payable
callable loan
positive yield curve
loan covenant
International Monetary Fund (IMF)
financing statement
reverse annuity mortgage
commitment letter
truth in lending
adjustable rate mortgage (ARM)
demand loan
unsecured loan
legal owner
home equity loan
obligor
security interest
simple interest
acceleration clause
credit enhancement
foreclosure
asset-based lending
origination fee
escalation clause
loan application
loan commitment
ability to pay
personal loan
loan proceeds
standby loan
closing costs
pass through security
mortgage broker
commercial loan
default risk
insolvency
covenant
interest rate futures
capacity
endorsement
credit union
call
credit history
debenture
capital market
finance charges
intermediary
recovery
diversification
exposure
commitment
limit
land
closing
consideration
creditor
collateral
investment bank
financial institution
risk
obligation
interest
bond
forward commitment
two step mortgage
non-depository financial institution
certificate of satisfaction
after-acquired clause
corporate image
future advances clause
non-recourse
right of redemption
character loan
agented credit
non-recourse financing
repossession
loan proposal
fixed charge
alienation
discounting of accounts receivable
negative covenant
grace period clause
right of rescission
renegotiated loan
alienation clause
discount loan
guaranteed loan
interest in advance loan
obligation bond
information asymmetry
secured debt
installment loan
closed mortgage
settlement cost
liquidity risk
bridge loan
sum payable
callable loan
positive yield curve
loan covenant
International Monetary Fund (IMF)
financing statement
reverse annuity mortgage
commitment letter
truth in lending
adjustable rate mortgage (ARM)
demand loan
unsecured loan
legal owner
home equity loan
obligor
security interest
simple interest
acceleration clause
credit enhancement
foreclosure
asset-based lending
origination fee
escalation clause
loan application
loan commitment
ability to pay
personal loan
loan proceeds
standby loan
closing costs
pass through security
mortgage broker
commercial loan
default risk
insolvency
covenant
interest rate futures
capacity
endorsement
credit union
call
credit history
debenture
capital market
finance charges
intermediary
recovery
diversification
exposure
commitment
limit
land
closing
consideration
creditor
collateral
investment bank
financial institution
risk
obligation
interest
bond
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