secondary mortgage market

secondary mortgage market definition - finance
The buying and selling of mortgages and mortgage-backed securities. Some of the agencies creating and participating in this industry are Fannie Mae and Freddie Mac. They create mortgage pools that are repackaged and sold as participation certificates or pass-through securities. Anything beyond the primary mortgage market is called the secondary mortgage market.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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