General Mortgage Bond


 

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General Mortgage Bond

In the US, this refers to a bond that is secured by a blanket mortgage on the issuing company's property, though it may be outranked by one or more other mortgages.



Similar Matches

First mortgage

First mortgage

The original loan taken out to purchase a home.


Second mortgage lending

Second mortgage lending

Loans secured by real estate previously pledged in a first mortgage.


Reverse mortgage

Reverse mortgage

A mortgage that permits elderly people who own their home outright to receive an income with the home as collateral. The loan is repaid plus interest either at the end of the term or on the death of the borrower when the property would be sold.


Chattel Mortgage

Chattel Mortgage

A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.


Senior mortgage bond

Senior mortgage bond

A bond that, in the event of bankruptcy, will be redeemed before any other bonds are repaid.


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Federal National Mortgage Association (FannieMae)


 
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