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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


GOST 7.67 Latin three-letter geocode for Armenia. The code is used for transactions to and from Armenian bank accounts and for international shipping to Armenia. As with all GOST 7.67 codes, it is used primarily in Cyrillic alphabets.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Adjustable rate mortgage (ARM).

An adjustable rate mortgage is a long-term loan you use to finance a real estate purchase, typically a home.

Unlike a fixed-rate mortgage, where the interest rate remains the same for the term of the loan, the interest rate on an ARM is adjusted, or changed, during its term.

The initial rate on an ARM is usually lower than the rate on a fixed-rate mortgage for the same term, which means it may be easier to qualify for an ARM. You take the risk, however, that interest rates may rise, increasing the cost of your mortgage. Of course, it's also possible that the rates may drop, decreasing your payments.

The rate adjustments, which are based on changes in one of the publicly reported indexes that reflect market rates, occur at preset times, usually once a year but sometimes less often. Typically, rate changes on ARMs are capped both annually and over the term of the loan, which helps protect you in the case of a rapid or sustained increase in market rates.

However, certain ARMs allow negative amortization, which means additional interest could accumulate on the outstanding balance if market rates rise higher than the cap. That interest would be due when the loan matured or if you want to prepay.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


See adjustable-rate mortgage.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.


See Adjustable Rate Mortgage.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Pueo, "Evaluation of a metrology platform for an articulated arm coordinate measuring machine verification under the ASME B89.4.22-2004 and VDI 2617.9-2009 standards," Journal of Manufacturing Systems, vol.
Furutani, "Calibration of articulated arm coordinate measuring machine considering measuring posture," International Journal of Automation Technology, vol.
* An important factor in programming articulated arm robots is the occurrence of singularity situations.
At this year's PPMA Show, Pacepacker will showcase six different pick and place systems demonstrating the three main technologies - robotic (articulated arm, delta and Cartesian), electro/pneumatic Cartesian and bespoke styles - in Hall 5, Stand C50.
When moving up from manual to automated palletizing, most people start with the lowest-end robotic, the articulated arm, says Bobby Edmond, director of sales for HK Systems' von Gal palletizer line (800-457-9783,
With this alliance, SMI adds articulated arm robots to its systems and product offerings.
Thus, 5-axis robots can perform many of the complex part-manipulation tasks historically assigned to 6-axis articulated arm units.
Flexible system components like an articulated arm and a small marking head also guarantee the easiest integration in tight production lines.
The patent dispute involves a key feature of articulated arm coordinate measurement machines, the ability to rotate the primary axis indefinitely without encountering a hard stop.
The company is a manufacturer of portable articulated arm coordinate measurement machines.