Consolidated mortgage bond

Consolidated mortgage bond

A bond that covers several units of property, sometimes refinancing mortgages on the properties.
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
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