mortgage backed security
Definition
Debt instrument secured by a mortgage or a pool of mortgages (but not conveying a right of ownership to the underlying mortgage). Unlike unsecured securities, they are considered 'investment grade,' and are paid out of the income generated by principle and interest payments on the underlying mortgage. It is a type of mortgage derivative. Also called mortgage backed certificate.
mortgage backed security is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
mortgage backed security appears in the definitions of the following terms: mortgage backed certificate, mortgage derivative and convexity
This content can be found on the following page:
http://www.businessdictionary.com/definition/mortgage-backed-security.html
email to a friend
print this definition
cite this definition
link to this page