Terms Used In Hawaii Revised Statutes 454F-44

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}