Definition of "Mortgage bonds"

Craig Conroy real estate agent
Craig Conroy, Real Estate Agent Endless Summer Realty

Bond collaterized by real assets. Two kinds of mortgage bond are senior mortgages and junior mortgages. A mortgage bond may have a closed-end provision that prevents the firm from issuing additional bonds of the same property or may be an open-end mortgage that allows the issuance of additional bonds having equals status with the original issue.

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