Locked In Retirement Account Lira

• A Locked‑In Retirement Account (LIRA) in Canada holds pension money transferred out of an employer‑sponsored pension plan and generally prevents withdrawals before retirement…

Local Tax

Local taxes are levies imposed by state, county, municipal, or other local governments (school districts, special districts) to fund services and operations in the…

Lobby

A lobby is a group of people, organizations, or companies that band together to influence public officials and public policy. The term also describes…

Loan Servicing

Loan servicing is the administrative work that follows a loan’s origination and continues until it is paid off. Servicing covers collecting and applying borrower…

Loan Modification

A loan modification is a permanent change to the original terms of an existing loan, made by the lender and agreed to by the…

Loan Syndication

• Loan syndication is when two or more lenders pool capital to make a single loan to one borrower; each lender is liable only…

Loan Shark

A loan shark is an illegal lender who makes loans at extremely high interest rates and often uses intimidation, threats, or violence to collect…

Loan Participation Note

Key takeaways – A loan participation note (LPN) lets investors buy a proportional interest in an existing loan or pool of loans and receive…

Loan Officer

A loan officer is a representative of a bank, credit union, mortgage company, or other lending institution who helps borrowers through the loan process.…

Loan Constant

A loan constant is a simple percentage that expresses the annual debt service (total principal + interest payments in a year) as a share…