The market for buying and selling existing mortgages; this could be in the form of whole mortgage or MBS sales. Both the primary and secondary mortgage markets are over-the-counter markets — there is no central exchange. Rather, loans are bought and sold through personal and institutional networks.
- Browse Related Terms: Chapter 7 Bankruptcy, Federal Home Loan Mortgage Corporation (Freddie Mac), Federal National Mortgage Association (Fannie Mae), Investment Property, Mortgage-Backed Securities (MBS), Preferred Stock, Primary Mortgage Market, Secondary Mortgage Market, Securitization
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