C C & Rs >> An acronym for Covenants, Conditions and Restrictions.

CANCELED CHECK >> A check that has been cashed by the bank on which the check was drawn.

CAPACITY >> A customer’s financial ability to repay debt.

CAPS >> The maximum increase of an adjustable-rate mortgage period and lifetime. Example: The original loan is made at 10% with a 6% cap. The interest rate on the loan may never exceed 16%, regardless of index changes.

CASH FLOW >> The amount of cash generated from income-producing property or investments after all operating expenses and loan payments have been made.

CASH VALUE >> The amount of money one would receive today by selling an asset in the market place.

CASHIER’S CHECK >> A check drawn by a bank on itself rather than on an account of a depositor. A cashier’s check is generally acceptable to close a sale without waiting for the check to clear.