Glossary and Acronyms "J"

Judgment

A decree by a court of law that one person is indebted to another for a specified amount. In some states, the court may place a lien against the debtor’s real property as collateral for payment of the judgment to the creditor.

Jumbo loan

Also known as a nonconforming loan. The amount of the loan exceeds standards that would make it eligible for sale to Fannie Mae and Freddie Mac. Certain geographical areas have temporary conforming loan limits higher than typical conforming limits. Lenders may charge additional fees and place certain restrictions due to the large loan amounts. (Ref: Jumbo Loans)

Joint Liability

Liability shared by two or more parties

Joint Tenancy

A tenancy with two or more co-owners who are not spouses on the date of acquisition and have identical interests in a property with the same right of possession. A joint tenancy differs from a tenancy in common because each joint tenant has a right of survivorship to the other's share (in some states, this right must be clearly expressed in the conveyance - otherwise, the tenancy will be presumed to be a tenancy in common).

Joint and last survivor annuity

An annuity that provides periodic payments for the joint lives of two individuals. Benefits are payable upon the death of one individual to the surviving individual at a percentage of the original payment amount. Death benefit amounts depend on the terms of the contract.

JPM CEMBI Broad Diversified Index

An unmanaged index in the Corporate Emerging Market Bond Index (CEMBI) series that measures the performance of U.S. dollar-denominated corporate bonds issued by emerging market countries as selected by JPMorgan.

JPM EMBI Global Diversified Index

An unmanaged index in the Emerging Market Bond Index (EMBI) series that measures the performance of U.S. dollar-denominated sovereign bonds issued by emerging market countries as selected by JPMorgan.

JPM Emerging Markets Bond Index (EMBI)

An unmanaged index that reflects the total returns of U.S. dollar-denominated sovereign bonds issued by emerging market countries as selected by JPMorgan.

JPM GBI Global Index (Unhedged)

An unmanaged, market capitalization-weighted index in the Government Bond Index (GBI) series that measures the local market performance of fixed-rate government bonds issued by high-income countries as selected by JPMorgan; the index is not hedged to the U.S. dollar.

JPM GBI-EM Global Diversified Index

An unmanaged index in the Government Bond Index-Emerging Markets (GBI-EM) series that measures the local market performance of U.S. dollar-denominated sovereign bonds issued by emerging market countries as selected by JPMorgan.

Judgement Lien

A lien imposed on a judgement debtor's nonexempt property. This lien gives the judgement creditor the right to attach the judgement to debtor's property.

Jumbo Mortgage

A mortgage loan in a principal amount that exceeds the dollar limits for a government guarantee. (Ref: What are Jumbo Loans?)

Junior Mortgage

A Mortgage that is subordinate to another mortgage on the same property.