mortgage certificate
41participating mortgage — noun : a mortgage or sometimes a group of mortgages in which two or more persons have fractional equitable interests evidenced by certificates issued by the bank or other fiduciary having legal title to the mortgage and selling the fractional… …
42Pass-Through Certificate — Fixed income securities that represent an undivided interest in a pool of federally insured mortgages put together by the Government National Mortgage Association (Ginnie Mae). Mortgage backed certificates are the most common type of pass through …
43All Savers Certificate — A type of nontaxable certificate of deposit account with a duration of one year that was used primarily by thrift institutions to build funds for mortgage lending. All Savers Certificates were authorized by the Economic Recovery Tax Act of 1981.… …
44estoppel certificate — estoppel letter or estoppel certificate A document used in commercial mortgage transactions where the lender is secured by property that is leased to tenants. Also known as tenant estoppel letters or tenant acceptance letters. Written admissions… …
45Participation Certificate — These US certificates represent an interest in mortgage loans. The buyer receives the cash flows and is the owner, but the seller remains the mortgagee of record. In Switzerland, a participation certificate is a non voting form of equity… …
46Face-Amount Certificate Company — A type of investment firm that issues debt securities to its investors. These securities are called face amount certificates and are backed by security interest on assets such as real property or other securities. This is similar in nature to… …
47Guaranteed Investment (Interest) Certificate - GIC — A deposit investment security sold by Canadian banks and trust companies. They are often bought for retirement plans because they provide a low risk fixed rate of return. The principal is at risk only if the bank defaults. The bank s profit is… …
48Pass-through Certificate — This represents an interest in a pool of mortgages in the United States. Payments received on the underlying pool are passed through to the investor by the firm servicing the mortgage payments …
49land certificate — A document that takes the place of a title deed for registered land. It is granted to the registered proprietor of the land and indicates ownership. It will usually be kept in the Land Registry if the land is subject to a mortgage …
50registered land certificate — The document that has replaced title deeds for registered land It provides proof of ownership of the land and will be in the possession of the land owner unless the land is subject to a mortgage, in which case it will be retained by the Land… …
