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Lease Fee
The lease fee for a vehicle is the monthly lease payment multiplied by the term of the lease.
Lender
An individual or company that makes funds available for borrowing. Lenders can specialize in a category of lending, like mortgage, automotive, personal, education, credit cards and others. Banks may choose to offer all categories of borrowing for their customers.
Lender Fees
Lender fees are fees charged by Lenders for processing and funding a loan. They can include application fees, attorney fees, recording fees, and more.
Limited Liability Company
A limited liability company, commonly called an “LLC,” is a corporate structure in which a company’s shareholders cannot be help personally responsible for the company’s debts or liabilities.
Limited Partnership
A limited partnership, or LP, is a type of legal business partnership whereby two or more partners unite to conduct business jointly. In a limited partnership, each partner is only liable for the amount of money that he has invested in the business.
Line Of Credit
A line of credit is a revolving (re-usable) credit account that allows account-holders to borrow money and repay it any time during the term of the loan. Credit cards are lines of credit and so is overdraft protection for checking accounts. There are also home equity lines of credit (HELOCs) that allow consumers to borrow against their homes, personal lines of credit, which are unsecured.
Liquidation
Liquidation occurs when a company goes out of business or becomes bankrupt and sells off its assets in order to pay off creditors and other debts.
Liquidation Value
Liquidation value is the total worth of a company’s physical assets when it goes out of business or declares bankruptcy.
Liquidity
Liquidity signifies the degree to which a company’s existing assets can be converted to cash to fulfill financial obligations. The faster an asset can be turned into cash, the more liquid it is considered.
List Price
The list price is the cost of a vehicle as suggested by its manufacturer.
Loan Agreement
A loan agreement is a contract where the lender stipulates terms and conditions required for the borrowers to receive a loan.
Loan Amount
The loan amount is the total amount that the borrower promises to pay back.
Loan Definition
A loan product created by a lender and offered to borrowers. It has a specific set of features and costs, which must be disclosed to consumers before they can be bound by its terms.
Loan Origination Fee
A mortgage lender charge for originating (processing, documenting, administering, underwriting, auditing and funding) a home loan. It can be a flat fee or a percentage of the loan amount.
Loan Servicing
Loan servicing is the administration portion of any type of loan from the moment the funds are dispersed until the loan is paid in full.
Loan Terms
The contractual obligations of a borrower and lender, as detailed in the loan agreement.
Loan-To-Value Ratio (LTV)
The relationship between a property value and the amount of loans against it. LTV is calculated by dividing the loan amount by the property value.
Lock In
A mutual commitment between a mortgage lender and borrower to fund a loan at a specific interest rate and cost as long as the mortgage closes before the lock period expires. Also called a rate lock, an interest rate lock, or just simply a lock.
Lock Period
The amount of time a lender has agreed to make a loan with a specific interest rate, terms and costs available to a borrower.

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