Mortgage

Definition

A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.

Nearby Terms

Morningstar rating system Mortality tables Mortgage Mortgage banker Mortgage bond

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Covenant
An agreed action to be undertaken (Positive) or not done (Negative). A breach of a covenant is a default.

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