Definitions for "Recasting"
The re-aligning of the existing resources within our county maintenance organizations to create the capacity for more agile relationships. Successful recasting means reassigning responsibilities at the appropriate level, identifying and reassigning Externally Focused Managers (EFMs), revising job descriptions for Assistant County Maintenance Managers (ACCMs) and Highway Foremen, establishing local Peer Review Teams in each county, and developing training plans to facilitate implementation. Highway Foremen assume additional responsibilities and operate with greater independence. This allows the EFMs and ACCMs to become more outwardly focused, develop partnerships with local governments, share resources, and better meet our customer's expectations.
The often instinctive way in which the young child’s ungrammatical utterances are put into correct grammatical forms by its mother or carer and which aid in the development of the child’s language.
Financial recasting eliminates, from the historical financial presentation, items such as excessive and discretionary expenses and nonrecurring revenues and expenses, since they reflect the financing decisions of the current owner and may not represent financing preferences of a new owner. Recasting provides an economic view of the company and allows meaningful comparisons with other investment opportunities.
The act of recalculating a private company’s balance sheet, income statement and cash flow statement to reflect its operation as a public company subsidiary. This process typically involves reducing owner compensation to a level consistent with industry averages, reducing or increasing staffing levels to match industry averages, and removing both phantom expenses and extraordinary items.
An adjustment to the current mortgage--a loan modification--that does not involve the issuance of a new mortgage guaranty insurance certificate. With a recast loan, a modification may be made in the type of instrument involved. In whatever form a recast loan takes, the major benefit to the borrower is the potential for substantially reduced mortgage payments.
A modification of a loan that amortizes the balance over the remaining years of the loan.
Modification of the terms of an existing mortgage to cure delinquency.
Any increase in loan based in part or in total on unforeseen increased costs incurred during construction.
Restructuring a loan with a new interest rate and term. It may be the same loan from the same lender, but the terms change. FHA has a formal procedure to recast loans to assist home buyers to stay in their houses.
Loan term revision that is often made when a borrower is having difficulty making the payments, such as extending the loan for additional years or modifying the interest rate.
the process of adjusting a loan arrangement, especially under the threat of default.
Adjusting the terms of a loan agreement in light of new developments (i.e. lower rates, possible default).
The process of rewriting existing loans, especially when there is a default. The term and interest rate may be adjusted to take pressure off the borrower.
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