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Houston Mortgage > Glossary >
Credit Repair > N 1-10
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National Automobile Dealers Association
A trade organization that publishes the NADA Official Used Car Guide, which provides retail prices for most used cars to consumers, and provides trade-in values in a confidential list to dealers.
National Credit Union Association
Created in 1970 to charter and supervise federal credit unions.
National Credit Union Share Insurance Fund
Insures credit union deposits.
National Foundation for Consumer Credit
A nonprofit organization that educates consumers about using credit wisely. The NFCC is the parent group for Consumer Credit Counseling Service.
National Vehicle Leasing Association
A trade group for automotive leasing companies that can provide direction on understanding leasing contracts and terms.
NCUA
National Credit Union Association: Created in 1970 to charter and supervise federal credit unions.
NCUSIF
National Credit Union Share Insurance Fund: Insures credit union deposits.
Negative amortization
A gradual increase in mortgage debt that happens when the monthly payment does not cover the entire principal and interest due. The shortfall is added to the remaining balance to create "negative" amortization.
Negative-equity financing
Financing for new car buyers who owe more on their trade-in than the car is worth.
Negotiable order of withdrawal (NOW) account
Liquid account, providing FDIC insurance to $100,000 per person ($250,000 on retirement accounts), that permits unlimited check-writing and typically pays interest. Also known as a NOW account.
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