- A company or lender that underwrites mortgage loans and keeps the records instead of selling the mortgages on the secondary market.
portfolio mortgage lender
Related Terms and Acronyms
- Asset-Backed Securities (ABS) — Acronym, Very Important,
➥ Financial security made up of a bundle of assets.
- Securities backed by a pool of assets.
- Lender — Definition,
- The bank or mortgage company offering the loan.
- Mortgage (mtg) — Abbreviation, Important,
- A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
- Mortgage-Backed Securities — Definition, Important,
- Securities backed by mortgage debt.
- Secondary Market — Definition,
- A market where financial instruments such as stocks, bonds, options and futures are bought and sold to investors.
- Secondary Mortgage Market — Definition, Important,
- The trade in home loans that are bundled together and sold as securities to investors. It frees money so more people can get mortgages.