Bridge Loan (37) A loan that bridges the gap between two other loans, usually for a short term. See Swing Loan.
Commercial Bank (35) A financial institution chartered by a state or the federal government to receive, lend, and safeguard money and other items of value.
Equity Participation (41) When a lender receives partial ownership interest in the project in order to increase its return on the loan.
Federal Deposit Insurance Corporation (FDIC) (44) Insures accounts at member banks up to $100,000.
Federal Home Loan Mortgage Corporation (FHLMC) (45, 106, 166) An agency known as Freddie Mac, which provides a secondary market for savings banks and other institutions.
Federal Housing Finance Board (FHFB) (33) Federal agency that regulates the 12 Federal
Home Loan Banks.
Federal Reserve Bank Board (FRBB) (45) An agency that oversees the Federal Reserve
System, regulates commercial banks, and regulates the flow of money and credit.
Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) (44) Federal law that restructured deposit insurance funds and regulatory system for thrifts.
Financial Intermediary (33) A depository that pools funds of clients and depositors and invests them into real estate loans.
Institutional Lender (39) A savings bank, commercial bank, or insurance company that deals in real estate loans.
Interim Loan (37) Any short-term financing, such as a Swing Loan, or a loan used to finance construction, due at the completion of the construction, which is usually paid off with the proceeds of a Take-Out Loan.
Life Insurance Company (39) A business that collects a person’s savings by selling contracts (policies) paid for through periodic premiums and providing cash payment upon death.
Loan-to-Value Ratio (34) The amount of loan, expressed as a percentage of a property’s value or sales price, whichever is lower.
Lock-in Clause (40) A provision that prohibits paying off a loan before a specified date.

Mutual Savings Bank (42) A savings bank originated in the New England states in which the depositors place their savings with the right to borrow money for home loans. There are no mutual savings banks in California.
Office of Thrift Supervision (OTS) (44) A branch of the U.S. Treasury that regulates all federally insured savings banks.
Pension Funds (43) Public and private retirement savings funds held in trust, which can be invested in real estate loans, stocks, or government securities.
Private Lenders Individuals who invest their own funds into real estate loans, directly or through mortgage brokers.
Savings Association Insurance Fund (SAIF) (44) Administered by the FDIC to insure deposits at savings banks and federal savings banks.
Savings Banks (33) Savings and loan associations using newly permitted designations.
Swing Loan (37) Used to assist in purchase of replacement house before sale of original house is completed. See Bridge Loan.
Take-out Loan (35, 312) A permanent loan that pays off the existing construction loan.
Thrift Institutions (38) Savings banks and other institutions that invest principally in real estate trust deeds.
Time Deposit (35) Savings account with a fixed maturity, as opposed to demand deposit.
Trade Associations (37) Groups that promote the interests of the firms in their memberships and provide them with research and information.