Definition of "Conduit"

Lynn Lappert real estate agent
Lynn Lappert, Real Estate Agent Keller Williams Realty Metropolitan

(1) Distribution channel through which originating mortgage lenders distribute mortgages to the Secondary Mortgage Market. Those purchasing mortgages distributed through the conduit re-sell them using the private market system. They are often converted into standardized mortgage investments as mortgage-backed investment securities. The mortgages are serviced either by the originating lender or by a service agency. (2) In construction, an enclosed channel or pipe used to carry electrical wiring, water, or other fluids. (3) A long restricted passageway between two walls.

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