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closed-end mortgage

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Closed-end mortgage
Mortgage against which no additional debt may be issued.
closed-end mortgage
A mortgage with a prohibition against additional borrowing using the same lien. The prohibition against additional borrowing protects the existing creditors from having the security diluted. Compare open-end mortgage.


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31, 2005, HSBC Finance Corporation serviced over 315,000 subprime residential closed-end mortgage loans with an aggregate principal balance of over $33 billion.
Fitch Assigns 'RPS2-' RMBS Servicer Rating For HSBC Finance ... by Business Wire
Household Mortgage Loan Trust, closed-end mortgage loan asset-backed notes, series 2003-HC1 $997.
Fitch Rates $1.198B Household Mortgage Loan Trust 2003-HC1 by Business Wire
The group I and cross-collateralized certificates are collateralized initially by 2 pools of fixed-rate, closed-end mortgage loans creating a first or junior lien on one- to four- family properties.
Conseco Finance, Home Equity & Home Improvement Ctfs, Ser 2001-B by Business Wire
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