Related Words

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.

Mortgager: The borrower of a loan secured by property.

Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges.

Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute.

Mortgagee: In a mortgage transaction, the party who receives and holds a mortgage as security for a debt, the lender. A lender or creditor who holds a mortgage as security for payment of an obligation.

Mortgage-Backed Security (MBS): A security guaranteed by pools of mortgages and used to channel funds from securities markets to housing markets. Ginnie Mae has a popular MBS program recognized for its low risk and high yi . . . View Full Definition

Mutual Mortgage Insurance: Insurance premiums and other specified FHA revenues are paid into one of four FHA funds. Losses due to foreclosure are met from these funds.

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.

Participation Financing: Where a lender becomes a partner in a development.

Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.