Tail:
The payment stream and/or balloon payment of an income
stream subsequent to another party's right and interest
in the income stream. Usually the back half of the
payment stream when another party has purchased the
front half.
Tangible personal
property:
Personal property other than real estate, such as cars,
boats, or other assets.
Time value of money:
Concept that addresses the way the value of money
changes over a period of time.
Title commitment:
A commitment on the part of the insurer, once a title
search has been conducted, to provide the proposed
insured with a title insurance policy upon closing.
Title insurance:
Title insurance can benefit either the payor or the
payee. Should the beneficiary suffer any damages due to
clouded or false title to real estate, title insurance
recompenses the damaged party to the extent of the
damages.
Title policy:
An insurance policy that insures a party against loss
due to a defective title.
Trial balance printout:
A spreadsheet that lists all loans in a portfolio and
their payment schedule. Usually required for a portfolio
transaction.
