BNET Business Dictionary
Business Definition for: Mortgage
- a financial lending arrangement whereby an individual borrows money from a bank or another lending institution in order to buy property or land. The original amount borrowed, the principal, is then repaid with interest to the lender over a fixed number of years.
- a borrowing arrangement whereby the lender is granted a legal right to an asset, usually a piece of real estate, should the borrower default on the payments. Mortgages are usually taken out by individuals who wish to secure a long-term loan to buy a home.
- See also Amortized Mortgage
Wiktionary Definition for: Mortgage
- A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.
- As in "to morgtage a property", to borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land.
Additional Resources
- Should You Prepay Your Mortgage?
- For some people, paying off a mortgage early is a bad financial move. Answer these six questions to see if prepaying makes sense for you. Determining whether it’s wise for you means weighing variables including your mortgage rate, tax bracket, age, other debts, and even your outlook for the...
- Articles 2009-10-02
- American Home Mortgage Plunges 87 Pct
- American Home Mortgage Plunges 87 PctAn investor who reads annual reports: The builders are the biggest lendersFor those who really do not have the time to read building company annual reports, here is a bullet list of tidbits that all will find interesting, particularly in light of today's mortgage environment:1. Joint...
- Discussion threads 2007-08-07
- Thornburg Mortgage Inc. Q3 2007 Earnings Call Transcript
- Question-and-Answer Session Operator Thank you. [Operator Instructions]. Our first question is with Richard V. Shane with Jefferies and Company. Please go ahead sir. Richard V. Shane - Jefferies & Co. Larry, thanks for taking my question. I’m going to ask you to try to...
- Earnings calls 2007-10-18
- How to Know If a Reverse Mortgage Is Right for You
- If you're of the right age, short on cash, and sitting on hundreds of thousands of dollars in home equity, reverse mortgages can be a sweet deal. But these loans aren't sure things. Here's how to know if a reverse mortgage is right for you. ...
- Articles 2009-06-02
- Mortgage Rates Drop Below 5 Percent: Freddie Mac
- By Julie HavivNEW YORK (Reuters) - U.S. mortgage rates fell below 5 percent for the first time in three weeks, a key level that may boost home loan demand and help the hard-hit housing market recover, a closely watched mortgage survey showed Thursday.Interest rates on U.S. 30-year fixed-rate mortgages...
- News items 2009-11-05
- Mortgage Fraud on the Rise
- Home sales and home values may be down. But mortgage fraud continues to grow. According to a just-released report from the Mortgage Asset Research Institute MARI, reported incidents of mortgage fraud are at an all time high, increasing 26 percent between 2007 and 2008. ...
- Blog posts 2009-03-27
- Should I Take a Reverse Mortgage?
- Dear Ali: I'm retired and some of my stocks have suffered all this financial trouble we've been having, so my banker mentioned a reverse mortgage to me. What do you think, is that worth looking into, or is there a catch? I can't tell if they're scams or not. ...
- Blog posts 2009-09-25
- Reverse Mortgage Brokers Are No Angels
- A few days ago, I put up a spoofy post called "Five Jobs for Lousy Times and No Talent Necessary." One of my top picks was reverse mortgage broker. My reasoning:Â As the population ages and taps out any retirement savings left after the financial crisis, reverse mortgages, which are available...
- Blog posts 2009-10-29
- Mortgage rates drop to 37-year low
- By Julie Haviv NEW YORK (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, according to a survey released on Wednesday by home funding company Freddie Mac. Interest rates on the 30-year fixed-rate mortgage dropped to an...
- News items 2009-08-07
- US mortgage rates rise, may curb demand
- By Julie Haviv of Reuters NEW YORK - US mortgage rates rose in the latest week as Treasury yields climbed, a move that may dampen home loan demand. Interest rates on US 30-year fixed-rate mortgages averaged 5.29 per cent for the week ending Aug. 13, up from the previous week's...
- News items 2009-08-13
- Am I in One of the Top Ten States for Mortgage Fraud?
- Dear Ali: We want to refinance our floating rate mortgage to a fixed-rate mortgage, but our current bank isn't making loans and we're concerned about mortgage fraud. How do we avoid it? A: I understand your concern. It's a shame that it took...
- Blog posts 2009-04-01
- Mortgage Modification: The "Good" and "Bad" Lenders -- July 2009 edition
- A few days ago I wrote about the mortgage modification crisis, pointing out as have so many others, that millions of people who desperately needed government help to stay in their homes weren't getting it. Now, the government has released the first list of which servicers are...
- Blog posts 2009-08-04
- Mortgage Benefits Corp. Signs CMG Mortgage Services to the Mortgage Provider Network; The Mortgage Provider Network is the First Mortgage PPO
- REDWOOD CITY, Calif. -- Mortgage Benefits Corporation (MBC; www.mortgageplans.com) today announced an agreement with CMG Mortgage Services to join MBC's patent-pending Mortgage Provider Network, a unique wholesale lending platform that delivers mortgage services to members of the MortgageChoice PlanTM, a no-cost, voluntary group benefit for employees who wish to purchase...
- Research articles 2004-07-16
- Credit Scoring And Mortgage Securitization : Implications For Mortgage Rates And Credit Availability
- This paper develops a model of the interactions between borrowers, originators, and a securitizer in primary and secondary mortgage markets. In the secondary market, the securitizer adds liquidity and plays a strategic game with mortgage originators. The securitizer sets the price at which it will purchase mortgages and the credit-score...
- White papers 2000-12-21
- GSEs, Mortgage Rates, And The Long-Run Effects of Mortgage Securitization
- This white paper compares mortgage securitization undertaken by government-sponsored enterprises with that undertaken by private firms, with an emphasis on how each type of mortgage securitization affects mortgage rates. It builds a model illustrating that market structure, government sponsorship, and the characteristics of the mortgages securitized are all-important determinants of...
- White papers 2001-12-01
- RBC Mortgage Opens Ad Astra Mortgage Ltd to Serve Lawrence Area Customers
- RBC Mortgage announced the opening of Ad Astra Mortgage Ltd in Lawrence, Kansas. Ad Astra Mortgage is a joint venture between RBC Mortgage and Stephens Real Estate. Through RBC Mortgage's affiliated business arrangement program, Ad Astra Mortgage provides homebuyers with online applications, quick approvals, 24/7 loan status reports and...
- Research articles 2005-06-16
- IMC Mortgage Company Announces Sale of Certain Assets to CitiFinancial Mortgage Company
- TAMPA, Fla.--BUSINESS WIRE--Nov. 15, 1999-- IMC Mortgage Company (OTC:IMCC) today announced the completion of the sale of its mortgage loan servicing business and substantially all of its mortgage loan origination business to CitiFinancial Mortgage Company ("CitiFinancial Mortgage").The shareholders of IMC approved the sale on Nov. 12, 1999. IMC...
- Research articles 1999-11-15
- Mortgage Modification -- the "Good" and "Bad" Lenders -- September 2009 edition
- Through the magic of the Internet, I consistently see that one of my most popular posts is the list of which loan servicers are trying to help consumers modify loans. The report card is issued every month by the federal government, with the theory being that giving a gold...
- Blog posts 2009-10-07
- Tougher Mortgage Regulation Proposed
- By Huw JonesLONDON (Reuters UK) - The governmet unveiled plans on Wednesday for tougher regulation of the huge home loans market as fallout from the credit crunch highlights concerns about lax lending standards and fraud.The government is proposing to expand the Financial Services Authority's remit to cover buy-to-let and second-charge...
- News items 2009-11-25
- Mortgage Lenders Should Be Doing Better PR
- As the mortgage crisis rolls along, I've been surprised at the relative lack of positive PR from the mortgage industry. Maybe they are just too busy righting their ships to worry about PR, but it seems to me that they ought to have been out there with some positive...
- Blog posts 2007-12-27
