Consolidated Mortgage Bond
- Consolidated Mortgage Bond
A bond that consolidates the issues of multiple properties. If the properties covered by the consolidated mortgage bond are already mortgaged, the bond acts as a new mortgage. If the properties do not have outstanding mortgages then the bond is considered the first lien. It can be used as a way to refinance the mortgages on the individual properties. The bond is backed by real estate or physical capital.
Consolidated mortgage bonds are used by large companies with many properties, such as railroads, looking to refinance them into one bond to market to investors. It allows companies to set a single coupon rate instead of dealing with several, and makes investors happy because they can purchase a singular bond that covers physical assets of a similar type.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
consolidated mortgage bond — A bond that covers several units of property, sometimes refinancing mortgages on the properties. Bloomberg Financial Dictionary … Financial and business terms
Bond — ist in den Vereinigten Staaten von Amerika die Bezeichnung für die Schuldverschreibung einer Eisenbahn, die in der Regel gegen Verpfändung ihr gehörigen Eigentums oder ihr zustehender Rechte ausgegeben werden. Der Begriff des B. entspricht im… … Enzyklopädie des Eisenbahnwesens
bond — Synonyms and related words: Fannie Mae, Federal Agency bond, Ginnie Mae, Oregon boat, Series E bond, Series H bond, accident insurance, accord, accouple, accumulate, actuary, addition, adherence, adhesion, adhesive, adjunct, adjustment bond,… … Moby Thesaurus
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… … Black's law dictionary
bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… … Black's law dictionary
Consol (bond) — This article is about consolidated securities. For the Roman official, see Consul. For meanings of console , see Console (disambiguation). Consol (originally short for consolidated annuities, but can now be taken to mean consolidated stock) is a… … Wikipedia
Convertible bond — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond … Wikipedia
Revenue bond — A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue generating entity associated with the purpose of the bonds, rather than from a tax. Unlike… … Wikipedia
