ADJUSTABLE RATE MORTGAGE Definition

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ADJUSTABLE RATE MORTGAGE (ARM) is A mortgage that features predetermined adjustments of the interest rate at regular intervals. An ARM's interest rate is tied to an index outside the control of the lender.

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BOOK-TAX DIFFERENCE is pretax book income minus tax net income.

NOTES PAYABLE are all note obligations, including bank and commercial paper. Does not include trade notes payable.

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