Banking vocab

6. A number, roughly between 300 and 800, that measures an individual's credit worthiness.
8. A check drawn on a bank and signed by an authorized bank official. (Also known as a cashier's check.)
9. A bankrupt person, firm, or corporation has insufficient assets to cover their debts. The debtor seeks relief through a court proceeding to work out a payment schedule or erase debts.
11. A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent).

1. A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies.
2. The complete repayment of a loan, including principal, interest, and any other amounts due. Payoff occurs either over the full term of the loan or through prepayments.
3. A payment that is electronically deposited into an individual's account at a depository institution.
4. A transfer of funds from one point to another by wire or network such the Federal Reserve Wire Network (also known as FedWire).
5. The maximum amount of credit that is available on a credit card or other line of credit account.
7. A debt instrument used in a real estate transaction where the property is the collateral for the loan. A mortgage gives the lender a right to take possession of the property if the borrower fails to pay off the loan.
10. An amount paid back because of an overpayment or because of the return of an item previously sold.