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Face Value: The current principle balance that exists on an income stream.
Factor: A source of funding whose specialization is in accounts receivable funding.
Factoring: Financing method where lender will buy a company’s accounts receivable as repayment for funding.
Fair Credit Reporting Act: Act passed that regulates the disclosure practices and procedures by major reporting agencies and makes provisions for mistake correction.
Fair Market Value: This is the price of a home or property between buyer and seller in a given market.
Farm: Agricultural land used for crops and livestock.
Federal Funds: Bank funds in excess of Fed reserve minimum requirements that a bank can deposit in federal bank account or lend overnight to other banks.
Federal Rate: This is the interest rate charged by banks to other banks for overnight loans. This interest rate is set daily. Banks are required to have minimum reserve funds and banks with excess will loan funds to banks that don’t meet the minimums.
Fees: Typically charged as a percentage of the transaction amount.
Fee Simple Ownership: Absolute ownership of real property.
FHA Mortgage: Federal Housing Authority Mortgage. This is a mortgage that is insured by the U.S. Federal Housing Authority.
Fictitious Name: Pseudo-name used to in legal statements by an individual to run a business.
First Mortgage: In the case of multiple mortgages this gives the mortgage first placement and claim on the property in case of default.
Fit-Out: Improvements by tenants within a commercial property.
Fixed Rate Mortgage: A mortgage with a fixed interest rate that doesn’t ever change throughout the life of the mortgage.
Fixtures: All estates in real property that isn’t fee estates. Fixtures are personal property that has become realty.
Flex Space: Industrial property that utilizes both office and industrial uses on the property.
Flood Insurance: This is insurance that covers damages and liabilities caused by flooding.
Floor-To-Area Ration (FAR): This is a ration between the combined floor space of all floors in a multi-story building and the square footage of the bottom or base floor. Zoning laws dictate FAR’s and can regulate the number of stories a building can have.
Forbearance: When a lender or creditor will forego foreclosure to allow the borrower to become current.
Foreclosure: After a loan has gone into default the legal seizing of the property by the lender or mortgagor.
Foundation: This is foundation of a building or house, the concrete slab which holds the property firmly in place and upon which the property is built..
Franchise: This is when authorization and rights are given to sell ones products or services in a certain place.
Franchise Fees: The costs paid to a franchisor for the rights to sell their goods and services.
Freestanding Retail: Commercial retail property that stands on its own, it is not part of a mall or strip mall or other retail outlet.
Freestanding: Commercial retail property intended for occupancy by just one retail tenant.
Full-Service: Services at hotels offered beyond just lodging including room service, concierge services, restaurant, dining, etc.
Funding Source: An individual, company or investor who purchases income streams or participates in lending transactions as the lender or creditor.
Furniture, Fixtures & Equipment (FF&E): Furniture and equipment are personal property that be removed from real estate while fixtures are attached to real estate.
Financial Statements: Profit loss records and balance or income sheets typically make up a financial statement. Balance sheets measure assets minus liabilities while income sheets or profit loss records show income minus cost (profit or loss).
First Deed of Trust: Similar to a mortgage, used in some states, it places a lien on the property and a third party trustee will hold the deed to the property for the lender to secure the debt.
Floating Rate: Interest rate that changes over team based on factors such as the Commercial Paper.
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