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TRUST FUND ACCOUNT An account set up by a broker at a bank or other recognized depository, into which the broker deposits all funds entrusted to him by his principal or others. FINANCE CHARGE The total of all costs imposed directly or indirectly by the creditor and payable either directly or indirectly by the customer, as defined under the federal Truth-in-Lending Law. UNDERWRITING In mortgage lending, the process of determining the risks involved in a particular loan and establishing suitable terms and conditions for the loan. VARIABLE RATE Interest rate that changes periodically in relation to an index. RIGHT-OF-WAY The right or privilege, acquired through accepted usage or by contract, to pass over a designated portion of the property of another. BULK TRANSFERS Any transfer in bulk, and not in the ordinary course of the seller's business, of a major part of the materials, inventory or supplies of an enterprise. APR See Annual Percentage Rate. |
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