non-recourse
Collateral-only debt obligation
Non-recourse describes a loan or debt where the lender's only remedy for default is to seize the collateral—they cannot pursue the borrower's other assets.
If a non-recourse mortgage goes unpaid, the bank can take the property but nothing else: It was a non-recourse loan, so when the business failed, they walked away owing nothing beyond the building.
Contrast with recourse loans, where borrowers remain personally liable for any shortfall.
Guarding against harm
- limitedRestricted in extent
- walk-awayAct of leaving decisively
- downsideDisadvantage of something
- exposureState of being unprotected
shielded · insulated · carve-out · bad-boy · guarantor · bankruptcy · judgment · safeguard
Borrowed money repaid later
- debtMoney owed another
- financingProviding capital for purchases
- mortgageSecured home loan
- borrowerOne who takes temporarily
lender · default · collateral · asset-backed · secured · deficiency · foreclosure · liability
Something owned or inherent
- commercialPaid broadcast promotion
- acquisitionAct of obtaining something
- developmentProgress toward maturity
- rentalPaid temporary use
investment · leveraged · multifamily · sponsor · equity · LTV · mezzanine · refinancing
Itemized billing statement
- receivablesOutstanding amounts owed you
- accountsRecords of transactions
- sellerOne who trades goods
- advanceMove or progress forward
collection · discount · trade · supplier · buyer · factor · assignment · notification
protection
Guarding against harm
exposure · shielded · insulated · carve-out · bad-boy · guarantor · bankruptcy · judgment · safeguard · ring-fenced
loan
Borrowed money repaid later
borrower · lender · default · collateral · asset-backed · secured · deficiency · foreclosure · liability · principal
property
Something owned or inherent
- commercialPaid broadcast promotion
- acquisitionAct of obtaining something
- developmentProgress toward maturity
rental · investment · leveraged · multifamily · sponsor · equity · LTV · mezzanine · refinancing · asset
invoice
Itemized billing statement
- receivablesOutstanding amounts owed you
- accountsRecords of transactions
- sellerOne who trades goods
advance · collection · discount · trade · supplier · buyer · factor · assignment · notification · purchase
- leasinglease agreement, tenant, lease term, lease terms, rent
- SecuritizationABS, CDO, CMO, tranche, tranches
recourse, recourses, course, courses, coursed, coursing, courser, concourse, concourses