mortgage bond

American  

noun

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

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Etymology

Origin of mortgage bond

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.

From Literature

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.

From Literature

The only problem was that there was no such thing as a credit default swap on a subprime mortgage bond, not that he could see.

From Literature

When he set out to bet against the subprime mortgage bond market, in early 2005, the first big problem that he encountered was that the Wall Street investment banks that might sell him credit default swaps didn’t share his sense of urgency.

From Literature

The original mortgage bond market had come into the world in much the same way, messily, coaxed into existence by the extreme interest of a small handful of people on the margins of high finance.

From Literature