mortgage-backed security definition

  • noun:
    • an asset-backed protection whoever money flows are backed by the key and interest payments of a couple of home mortgages.
    • a security produced when a group of mortgages are gathered collectively and bonds can be purchased with other institutions or the public; investors get a percentage associated with the interest repayments on the mortgages plus the key repayments; typically fully guaranteed because of the federal government

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