mortgage purchase bond

mortgage purchase bond definition - business

mortgage purchase bond

A housing revenue bond, the proceeds of which have been used to purchase mortgages from lending institutions. Interest and principal payments are derived from payments on the mortgages underlying the bond issue.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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