Closed-End Mortgage

Business / Finance / Closed-End Mortgage: An investment company that has only a set number of shares of the mutual fund that it manages, and does not create new shares if demand increases. Antithesis of an open-end management company.

Open-End Mortgage

Business / Finance / Open-End Mortgage: Mortgage against which additional debts may be issued. Related: Closed-end mortgage. MORE

Mortgage-Backed Security (MBS)

Business / Real Estate / 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 yield. The G MORE

Mortgagee

Business / Construction / Mortgagee: The lender who makes the mortgage loan. MORE

Mortgage-Backed Security

Business / Taxes / Mortgage-Backed Security: Mortgage-backed securities are created when the sponsor buys up mortgages from lenders, pools them, and packages them for sale to the public, a process known as securitization. The securities are avai MORE

Mortgagees Title Insurance

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

Mortgage-Backed Securities Clearing Corporation (MBSCC)

Business / Finance / Mortgage-Backed Securities Clearing Corporation (MBSCC): A wholly owned subsidiary of the Midwest Stock Exchange that operates a clearing service for the comparison, netting, and margining of agency-guaranteed MBS transacted for forward delivery. MORE

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