What Are the Holy Days of Islam?

Answer Although many Muslims follow the Western solar or Gregorian calendar for everyday purposes, all Muslims use the lunar Hijiri calendar to determine Islam's holy days and holidays. The Hijiri year ha... Read More »

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What Is an asset retirement obligation?

An asset retirement obligation is a term used in accounting. It describes a complex set of procedures for accounting for the costs of tangible long-lived assets and costs associated with retiring ... Read More »

What is a Collateralized Mortgage Obligation?

Collateralized mortgage obligations (CMO) are securitized investment products based on the mortgage market. This type of investment offers distinct opportunities while presenting serious risks and ... Read More »

What is a collateralized loan obligation?

A loan backed by collateral or security is less risky than an unsecured loan. In the banking industry, a collateralized loan obligation is a loan that is backed by assets in a financial institutio... Read More »

What is the obligation of bank to a home owners association in foreclosures?

When a bank acquires a condominium, at least the bank owes the monthly assessments.However, the association may require the aid of an attorney to find in its governing documents exactly how to serv... Read More »