Secondary mortgage market

Secondary mortgage market

The buying and selling of first mortgages or trust deeds by banks, insurance companies, government agencies, and other mortgagees. This enables lenders to keep an adequate supply of money for new loans. The mortgages may be sold at full value ("par") or above, but are usually sold at a discount. The secondary mortgage market should not be confused with a "second mortgage."

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
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secondary mortgage market

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Buying and selling existing mortgage loans, which are often pooled and traded as mortgage-backed securities.

secondary mortgage market

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