| Factoring |
Type of loan used when a lender funds an amount to the business owner which is secured against the debtor's portfolio of the business. |
| First Mortgage |
The first registered charge noted on a certificate of title. If this mortgage were discharged any subsequent charge would move up the line of encumbrance. |
| Fixed Rate |
The interest rate is fixed for the specified term on the loan eg 3 years/ 5 years. Repayments also remain fixed for this period of time. |
| Flood Certificate |
An independent agency report required by the lender to determine whether a property is located in a flood hazard zone, which would then require a federally mandated flood insurance policy. |
| Foreclose |
To force the payout of the mortgage by way of sale of the property. |
| Freehold |
100% equity in the property. |
| FTRA |
Financial Transaction Reporting Act. This is the Act that makes the identification of anyone participating in a financial transaction such as acquiring a loan or opening a bank account compulsory. The 100 Point Id form is known as the FTRA Form. |
