mortgage-backed - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “mortgage-backed”

mortgage-backed

adjective
 
 
FINANCE
used to describe an investment, especially a bond, in which the money that is used to pay back mortgages is used to pay interest on the investment: The mortgage-backed securities market could be heavily affected by mortgage refinancing.
(Definition of mortgage-backed from the Cambridge Business English Dictionary © Cambridge University Press)
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