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underlying mortgage
(redirected from Underlying Mortgages)

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Underlying Mortgage
In a mortgage-backed security, a mortgage or a piece of a mortgage that gives value to the security. For example, if a bank sells the mortgage on Joe's house to another bank and that bank repackages it into an MBS, Joe's mortgage is one of the underlying mortgages for the security. See also: Underlying asset.

underlying mortgage
The first mortgage in a wraparound mortgage arrangement.


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Tellingly, one year after the date of the certificate offerings, delinquency and default rates on the underlying mortgages had increased 2,525% from issuance.
TRC said it will continue to monitor the residential mortgage market as well as the underlying mortgages of the rated RMBS transactions and keep the market informed of future trends.
While other areas of the financing market have slowed dramatically, underlying mortgages and lines of credit lending for housing communities remains strong, as more buildings arrange loans to meet varying financial needs.
 
 
 
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