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First mortgage |
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First mortgageA type of mortgage that through a lien gives precedence to the lender of the first mortgage over all other lenders in case of default.First mortgageThe original loan taken out to purchase a home.First MortgageA mortgage on property that is superior in position to any other mortgage.First mortgageA mortgage which carries priority over any subsequent mortgages if the borrower goes into default and his/her assets have to be sold to pay creditors.Similar MatchesGnma (government National Mortgage Association) OptionsGnma (government National Mortgage Association) OptionsA method of purchasing GNMA securities through "puts" and calls." A GNMA Call Option is the right to buy GNMA securities at a specific yield for a specified time, A Put Option is the right to sell GNMA securities at a specific yield for a specified time. The buyer pays for the option and may exercise it, not exercise it, or sell it. Mortgage Life InsuranceMortgage Life InsuranceA term life insurance policy for theamount of the declining balance of a loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the event of death (some policies also cover disability) of the insured (mortgagor), the mortgage is paid in full. MortgageeMortgageeThe party lending the money and receiving the mortgage. Some states treat the mortgagee as the "legal" owner, entitled to rents from the property. Other states treat the mortgagee as a secured creditor, the mortgagor being the owner. The latter is the more modern and accepted view. Mortgage interest deductionMortgage interest deductionIn the US, an allowable federal tax deduction for the annual interest paid on a mortgage. Mortgage durationMortgage durationA modification of standard duration to account for the impact on duration of MBSs of changes in prepayment speed resulting from changes in interest rates. Two factors are employed: one that reflects the impact of changes in prepayment speed or price. Further SuggestionsPrivate Mortgage InsuranceChattel mortgage Lehman Brothers Mortgage Backed Securities Index Freddie Mac (Federal Home Loan Mortgage Corporation) pension mortgage Mortgage lien Self build mortgage Mortgage code arbitration scheme Wrap Around Mortgage capped rate mortgage Shared Appreciation Mortgage (SAM) Euro mortgage Consolidated mortgage bond Foreign currency mortgage Mortgage General Mortgage Bond Direct Reduction Mortgage Mortgage Broker Government National Mortgage Association Multifamily mortgage Mortgage interest deduction Real Estate Mortgage Investment Conduit (REMIC) shared appreciation mortgage Federal National Mortgage Association (FannieMae) Mortgage Bonds |
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