First Quarter: The moon is one-half illuminated by the sun. Occurs when the moon's illumination is increasing, Waxing Gibbous: The moon is more than one-half illuminated by the sun but not completely illuminated. Occurs when the moon's illumination is increasing, Full Moon: The moon is totally visible in the sky. Except during a lunar eclipse, Waning Gibbous
Property Preservation â This term refers to the industry of professionals who provide services to banks and asset management companies on their foreclosure houses. Typical services provided are repair, inspection, insurance claim management and maintenance. Also known as Mortgage Field Services.
Insurance retention (IR) is the portion of an insurance claim not covered by the insurance company. It is that portion of any loss paid by the insured. A deductible is the most common example of insured retention although there are other types of retentions. An insurance deductible on a liability policy is the amount that must be paid or reimbursed by the insured for each claim paid by the insurance company. In the case of third party claims, insurance companies must pay any legitimate covered claim and seek reimbursement of the deductible from their insured.