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coupon book

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coupon book

Formerly, a booklet given to investors with coupons that were clipped out and mailed in to receive that period's income. This was the source of the expression “coupon clipper,” meaning a person of leisure with investment income.Today,a coupon book is the booklet given to mortgage borrowers, containing coupons with account and payment information, to be mailed in with monthly mortgage payments.



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