Glossary M

Glossary

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Market Value
The highest price that a willing buyer would pay and the lowest a willing seller would accept.

Money Market
The market for short-term debt instruments. Money market investments include Treasury bills, short-term certificates of deposit, commercial paper, and other, similar instrumets.

Money Market Funds
Refers to mutual funds investing solely in money market instruments.

Mortgage
An interest in real property given as security for the payment of an obligation.

Mortgage Insurance
A policy that allows mortgage lenders to recover part of their financial losses from an insurance company if a borrower fails to fully re-pay a loan. Mortgage insurance makes it possible for consumers to buy a home with as little as 5 percent down.

Mortgage Investor
Any person or institution that invests in mortgages. By buying mortgage loans from lenders, the mortgage investor gives the lender funds that can be used for more lending.

Mortgage Life Insurance
A type of term life insurance. The amount of coverage decreases as the mortgage balance declines. In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance proceeds.

Mutual Fund
An investment company that enables investors to pool their funds in order to invest in a managed portfolio of securities.

Not FDIC insured | May lose value | No bank guarantee

An investment in Northern Funds is not insured by the FDIC, and is not a deposit or obligation of, or guaranteed by The Northern Trust Company or any affiliate. An investment in Northern Funds involves risks, including possible loss of principal.

Shares of Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust. Northern Funds are managed by Northern Trust.

Shares of the Northern Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of US registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.