MORTGAGE BACKED BOND
\mˈɔːɡɪd͡ʒ bˈakt bˈɒnd], \mˈɔːɡɪdʒ bˈakt bˈɒnd], \m_ˈɔː_ɡ_ɪ_dʒ b_ˈa_k_t b_ˈɒ_n_d]\
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A lien on the bond issuer's assets, payable from the issuer's income secures this type of bond. These bonds offer a more predictable maturity with call protection against the bond's early redemption, unlike a mortgage backed pass-through security, which conveys an ownership right.
By Henry Campbell Black
Word of the day
Platidiam
- An inorganic water-soluble platinum complex. After undergoing hydrolysis, it reacts DNA produce both intra interstrand crosslinks. These crosslinks appear to impair replication and transcription of DNA. The cytotoxicity cisplatin correlates with cellular arrest in G2 phase cell cycle.