Meaning / Definition of
Pool Factor
Categories: Finance,
The outstanding principal balance divided by the original principal balance with the result expressed as a decimal. Pool factors are published monthly by the bond buyer newspaper for ginnie mae, fannie mae, and freddie mac (federal home loan mortgage corporation) MBSs.
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Definition / Meaning of
Home Equity
Categories: Credit and Debt, Real Estate, Legal, ,
The current market value of a house minus how much is owed on it. A home equity loan borrows against this amount.
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