What is mortgage?

  • (verb): Put up as security or collateral.
    See also — Additional definitions below


A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.

Read more about Mortgage.

Some articles on mortgage:

Credit Ombudsman Service
... or COSL, is an industry ombudsman established in 2003 as a result of the Mortgage Finance Association of Australia ('MFAA') self-regulation and the then increasing interest in ... Leasing companies Micro-lenders mortgage brokers non-bank lenders mortgage managers mortgage originators aggregators wholesale funders securitisation trustees housing co-oper ...
Second Market, Inc. - Markets Trading On SecondMarket - Structured Products
... Secondmarket opened the collateralized debt obligation (CDO) and mortgage-backed security (MBS) markets ... that can trade over SecondMarket are Residential Mortgage-Backed Securities Corporate Mortgage-Backed Securities Other Asset Back Securities Corporate bonds (these structures are also known ...
Scottish Mortgage Investment Trust - History
... The origins of Scottish Mortgage lie in a credit crisis, the Panic of 1907 ... They established The Straits Mortgage and Trust Company Limited.” to lend money to the planters, secured on the rubber estates ... planters no longer required finance from Straits Mortgage on the scale anticipated ...
Service Release Premium
... (SRP) is the payment received by a lending institution, such as a bank or retail mortgage lender, on the sale of a closed mortgage loan to the secondary mortgage market ... The secondary mortgage market purchaser is typically a Wall Street investment bank, Fannie Mae, Freddie Mac, or Ginnie Mae, as the first step in the ... Today, virtually all mortgages closed are purchased by the US government through the GSE Mortgage Backed Securities Purchase Program The amount of SRP paid is based on the market value of ...
Mortgage Insurance
... Mortgage insurance is an insurance policy designed to protect the mortgagee (lender) from any default by the mortgagor (borrower) ... (note) rate, or in one lump sum up front, or as a separate and itemized component of monthly mortgage payment ... In the last case, mortgage insurance can be dropped when the lender informs the borrower, or its subsequent assigns, that the property has appreciated, the loan has been paid down, or any ...

More definitions of "mortgage":

  • (noun): A conditional conveyance of property as security for the repayment of a loan.

Famous quotes containing the word mortgage:

    We are playing with fire when we skip the years of three, four, and five to hurry children into being age six.... Every child has a right to his fifth year of life, his fourth year, his third year. He has a right to live each year with joy and self-fulfillment. No one should ever claim the power to make a child mortgage his today for the sake of tomorrow.
    James L. Hymes, Jr. (20th century)

    Loosened from the minor’s tether;
    Free to mortgage or to sell,
    Wild as wind, and light as feather
    Bid the slaves of thrift farewell.
    Samuel Johnson (1709–1784)

    The mortgage is still in our name but, increasingly, the house is theirs. One diaper, one vote.
    Fred G. Gosman (20th century)