SMA Definition

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SMA see SPECIAL MEMORANDUM ACCOUNT.

Learn new Accounting Terms

CLEARING ACCOUNT, in banking, is a bank account used by a mortgage servicing company for the temporary, short-term deposit of mortgage payments that have been collected and are either awaiting transmittal to investors who bought the mortgages or awaiting deposit in escrow accounts. See CASH CLEARING ACCOUNT.

ASWA is American Society of Women Accountants.

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