To repay the balance on a mortgage loan in case the mortgagor dies before payoff, one buys this type of decreasing-term life insurance policy .

Loss probability that a mortgagor will fail to repay a mortgage loan fully.

the name given to the second mortgage on the same property.

Originator or initiator of an asset backed security (ABS). Typically a business, bank, or individual . This entity can also transfer assets to the issuer directly or indirectly by monetizing […]

Lender accountability in advising consumers on a mortgage loan . Holds lenders accountable for steering a customer to unsuitable mortgage types. Lenders are very opposed to any standard. They state […]

Mortgage loan advanced and secured by this single-property seller.

Mortgage interest tax deduction . If the mortgage payer itemizes on the tax return this tax can be deducted from state and federal income taxes. Varies from state to state […]

A bond whose collateral is a mortgage promise.

Local or municipality issued bonds to fund low interest rate mortgages. the mortgage payments pay back the mortgage-backed revenue bonds. Similar to mortgage backed securities. Each bond has its own […]

An SEC-recognized organization that verifies, posts, and delivers all transactions dealing with mortgage-backed securities. Post-trade comparisons, risk management , or changes in mortgage pools are part of these transactions.

A pool or mortgages that act as a security.

A risk a lender takes that a mortgagor may not lock in the interest rate for the grace period between drawing up the mortgage and the closing, hoping that the […]

He that takes or receives a mortgage.

He that gives a mortgage.

Sax. Murder, answering exactly to the French “assassinat” or “mucrtre de guet-apens.”

A murderer. Cowell.

Murder. Cowell.

In Scotch law. A term nearly synonymous with “mortmain.” Bell. Lands are said to be mortified for a charitable purpose.

Lat. By reason of death; iu contemplation of death . Thus used in the phrase ” Donatio mortis causa ,” (q. v.) Mortis momentum est ultimum vita momentum. The last […]

A term applied to denote the alienation of lands or tenements to any corporation , sole or aggregate, ecclesiastical or temporal. These purchases having been chiefly made by religious houses, […]

In ecclesiastical law . A burial-place. A kind of ecclesiastical heriot, being a customary gift of the second best living animal belonging to the deceased, claimed by aud due to […]

Tables for estimating the probable duration of the life of a party at a given age. Gallagher v. Market St. Ry. Co., G7 Cal. 16, 6 Pac. 871, 51 Am. […]

A dead pledge; a mortgage, (q. v.;) a pledge where the profits MORTUUS 795 MOVABLE or rents of the thing pledged are not applied to the payment of the debt

Lat Dead. So in sheriffs return, mortuus est, he is dead.

a Latin phrase that means a child who is born dead is not considered legal issue and does not have the usual rights of offspring.