YIELD:
The effective return on an investment, as paid in dividends or interest.
YIELD MAINTENANCE PREMIUM:
A penalty designed to make investors whole in the event of early redemption of principal. Usually paid by the borrower.
YIELD SPREAD:
A form of compensation some brokers receive from a lender for originating and processing a loan. The yield spread is based on the interest rate of the loan and can usually vary anywhere from zero to 6%.
Z-FLASHING:
A special type of metal flashing that protects horizontal joints between siding panels which do not overlap. This metal flashing has a Z-shaped profile and is designed to tuck up under the upper panel and overlap the lower one.
ZERO-LOST LINE:
The positioning of a house near or on top of the lot boundary, resulting in little or no space between houses.
ZERO-NET:
When the seller receives little or no net proceeds from a property sale.
ZONING:
Regulations controlling the use of land within a jurisdiction.
ZONING ORDINANCE:
The set of laws and regulations controlling the use of land and construction of improvements in a given area or zone.
ZONING VARIANCE:
A one-time modification of existing zoning laws.
