mortgage-backed security

1 definition found

mortgage-backed security - WordNet (r) 2.1 (2005) :

  mortgage-backed security
      n 1: a security created when a group of mortgages are gathered
           together and bonds are sold to other institutions or the
           public; investors receive a portion of the interest
           payments on the mortgages as well as the principal
           payments; usually guaranteed by the government