mortgage bond

noun

1. a bond secured by a mortgage on real estate or other property.

Word History and Origins

Origin of mortgage bond¹

First recorded in 1885–90

Example Sentences

I expected them to gape in wonder at the story of Howie Rubin, the Salomon mortgage bond trader, who had moved to Merrill Lynch and promptly lost $250 million.

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That exactly twenty years after Howie Rubin became a scandalous household name for losing $250 million, another mortgage bond trader named Howie, inside Morgan Stanley, would lose $9 billion on a single mortgage trade, and remain essentially unknown, without anyone beyond a small circle inside Morgan Stanley ever hearing about what he’d done, or why.

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The creation of the mortgage bond market, a decade earlier, had extended Wall Street into a place it had never before been: the debts of ordinary Americans.

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Now, with the extension of the mortgage bond market into the affairs of less creditworthy Americans, it found its fuel in the debts of the less solvent half.

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The mortgage bond was different in important ways from old-fashioned corporate and government bonds.

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