Credit and Lending

Money owed to a firm by customers for goods/services already delivered; a key working-capital item tied to trade credit.

Overdue payments on a contract (rent, mortgage, utilities, child support) after one or more missed due dates.

Debt that is unlikely to be collected and must be recognized as a loss by the lender or seller.

An accounting charge that sets aside an allowance for expected losses on loans or receivables.

A financial institution that takes deposits, extends credit, and provides payment and financial services.

A bond-like security backed by the cash flows from a pool of mortgage loans.