What is real estate underwriting? When an individual or business entity seeks funding for a real estate project or purchase, the loan request is scrutinized by an underwriter to determine how much risk the lender is willing to accept.
What is the 'Depository Trust Company - DTC'. The Depository Trust Company (DTC) is one of the world's largest securities depositories. The DTC, which was founded in 1973 and is based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic recordkeeping of securities balances. It also acts like a clearinghouse to process and settle trades in corporate and municipal securities.
bank identifier codes. BIC. Series of codes developed by the International Organization for Standardization (ISO) to identify banks and their branches. These codes are generally only used by financial institutions, to conduct business between banks, such as wire transfers. A BIC code can be either 8 or 11 digits long; 8 digits would refer to a primary office of a bank, while an 11 digit code would refer to a specific branch location. The code specifies the bank, country, specific location (such as city), and branch. See bank identification number (BIN).