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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
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- Blossary:
- Industry/Domain: Real estate
- Category: General
- Company: Coldwell Banker
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