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Secondary mortgage market |
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Secondary Mortgage MarketThe buying and selling of first mortgages of trust deeds by banks, insurance companies, government agencies, and other mortgagees. This enables lenders to keep an adequate supply of money for new loans. The mortgages may be sold at full value (par) or above, but are usually sold at discount. The secondary mortgage market should not be confused with second mortgage.Secondary mortgage marketBuying and selling existing mortgage loans, which are often pooled and traded as mortgage-backed securities.Secondary mortgage market Similar MatchesSpot secondarySpot secondarySecondary distribution that may not require an SEC registration statement and may be attempted without delay. An underwriting discount is normally included in these offerings. Registered secondary offeringRegistered secondary offeringA reoffering of a large block of securities, previously publicly issued, by the holder of a large portion of some corporation through an investment firm. Secondary issueSecondary issue(1) Procedure for selling blocks of seasoned issues of stocks. (2) More generally, sale of already issued stock. Secondary FinancingSecondary FinancingA loan secured by a mortgage or trust deed, which lien is junior (secondary) to another mortgage or trust deed. Secondary distribution or offeringSecondary distribution or offeringPublic sale of previously issued securities held by large investors, usually corporations or institutions, as distinguished from a primary distribution, where the seller is the issuing corporation. The sale is handled off the NYSE, by a securities firm or a group of firms, and the shares are usually offered at a fixed price related to the current market price of the stock. Further Suggestionssecondary marketForfaiter (Secondary) Secondary market Secondary Offering Secondary tariffs |
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