Consolidated mortgage bond
Consolidated mortgage bond
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Consolidated Mortgage Bond
A bond guaranteed by more than one mortgage on more than one property. Sometimes, the bonds are backed by refinanced mortgages. Payments are dependent on payments on the underlying mortgages. See also: Mortgage-backed security, Collateralized mortgage obligation.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved