Multiclass Mortgage Securities
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Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges.
Package Mortgage: A mortgage on a house and property in the house.
Participation Mortgage: A mortgage loan wherein the lender has a partial equity interest in the property or receives a portion of the income from the property.
Pass-Through Securities: A pool of fixed income securities backed by a package of assets (i.e., mortgages) where the holder receives the principal and interest payments. Related: Mortgage pass-through security
Open-End Mortgage: Mortgage against which additional debts may be issued. Related: Closed-end mortgage.
Pension Mortgage: A personal mortgage is a type of personal pension plan which utilises the tax free lump sum entitlement from the pension fund at retirement age to repay a mortgage whilst the remainder is us . . . View Full Definition
Open End Mortgage: A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually as to the assets of the mortgage.
National Association Of Securities Dealers Automated Quotation System (NASDAQ): NASDAQ is a computerized stock trading network that allows brokers to access price quotations for stocks being traded electronically or sold on the floor of a stock exchange.
National Association Of Securities Dealers Automatic Quotation System (Nasdaq): An electronic quotation system that provides price quotations to market participants about the more actively traded common stock issues in the OTC market. About 4000 common stock issues are . . . View Full Definition
National Securities Clearing Corporation (NSCC): A clearing corporation that facilitates the settlement of accounts among brokerage firms, exchanges, and other clearing corporations.