Flexible Mortgage Account: A combined mortgage and current account. Any savings each month earn the mortgage rate, which is a relatively high and tax-free rate of return.

 

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Flexible Mortgage Account: A combined mortgage and current account. Any savings each month earn the mortgage rate, which is a relatively high and tax-free rate of return.

Mortgage Rate: The interest rate on a mortgage loan.

Mortgage Protection: Term assurance to cover the repayment of a mortgage in the event of the death of the mortgagor during the period of the loan.In the case of a repayment mortgage the capital sum outstanding i . . . View Full Definition

Mortgage Pool: A group of mortgages with similar class, interest rate, and maturity characteristics.

Mortgage REIT: An REIT that invests in loans secured by real estate that derives income from mortgage interest and fees.

Mortgage Revenue Bonds: A type of tax-exempt industrial development bond offered by state and local governments through their housing financing agencies.

Mortgage-Backed Securities (MBS): Investment instruments backed by a pool of mortgage loans.

Mortgage Servicing: The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default, involved with a mortgage loan.

Mortgage Pipeline Risk: The risk associated with taking applications from prospective mortgage borrowers who may opt to decline to accept a quoted mortgage rate within a certain grace period.

Mortgage Pipeline: The period from the taking of applications from prospective mortgage borrowers to the marketing of the loans.