Business / Finance / Strip Mortgage Participation Certificate (Strip PC): Variant of a straddle. A strip is two puts and one call on a stock. A strap is two calls and one put on a stock. The puts and calls have the same strike price and expiration date. See: Strap.
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Strip Verb Synonyms: band, ribbon, fillet, belt, swath or swathe, stripe
Strip Adjective Synonyms: (do a) striptease, work the runway
Strip Noun Synonyms: remove, take away, confiscate, seize, expropriate, rip off
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Business / Finance / Negotiated Certificate Of Deposit: A large-denomination CD, generally $1MM or more, that can be sold but cannot be cashed in before maturity. MORE
Business / Real Estate / Mutual Mortgage Insurance: Insurance premiums and other specified FHA revenues are paid into one of four FHA funds. Losses due to foreclosure are met from these funds. MORE
Business / Debt / Open End Mortgage: A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually as to the assets of the mortgage. MORE
Business / Finance / Open-End Mortgage: Mortgage against which additional debts may be issued. Related: Closed-end mortgage. MORE
Business / Finance / Package Mortgage: A mortgage on a house and property in the house. MORE
Business / Finance / Municipal Improvement Certificate: A certificate used to finance local government projects and services that are financed by a special tax assessment. Its interest is tax-free. MORE