Junior Mortgage

Business / Finance / Junior Mortgage: A mortgage that will be satisfied only after more senior mortgages have been satisfied. e.g., a first mortgage will be satisfied prior to a second or a third mortgage.

Other Words for Junior

Junior Noun Synonyms: secondary, lesser, lower, minor, subordinate, inferior, younger
MORE

Wrap Around Mortgage

Business / Debt / Wrap Around Mortgage: A second or junior mortgage with a face value of both the amount it secures and the balance due under the first mortgage. The mortgagee under the wrap-around collects a payment based on its face value 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

Mortgage-Backed Securities (MBS)

Business / Finance / Mortgage-Backed Securities (MBS): Investment instruments backed by a pool of mortgage loans. MORE

Mortgage Servicing

Business / Finance / Mortgage Servicing: The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default, involved with a mortgage loan. MORE

Links
Home
Glossary
Thesaurus