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Loan and Mortgage Terms Glossary


(1) the process of balancing in-coming drafts that are accepted, as well as returned checks that an institution receives and making payment for the drafts within the check-collection system. (2) the process of delivering and paying for items previously purchased. (3) an agreement reached between two or more parties in contention. (4) a property arrangement to satisfy a dispute, as between a husband and wife. (5) the winding up and final distribution of an estate.

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