mortgage backed bond
Definition
Bond secured by a lien on the bond issuer's assets and payable from the issuer's income. Unlike a mortgage backed pass-through security (which conveys an ownership right), these bonds instead offer a more predictable maturity and, thus, a type of call protection against the bond's early redemption.
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mortgage backed bond is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
mortgage backed bond appears in the definition of the following term: mortgage bond
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