Master Mortgage

AAA

DEFINITION of 'Master Mortgage'

Documentation that is filed in the records for public land by mortgage originators as a matter of standard procedure. The master mortgage makes the lien-recording process less complicated and also aids in the sale of mortgages that trade in the secondary market.

INVESTOPEDIA EXPLAINS 'Master Mortgage'

Every originator of mortgages must file a master mortgage. The master mortgage was originally created by Fannie Mae and Freddie Mac in an attempt to streamline the record-keeping process. Master mortgages are required to be filed in the registrar's office prior to any placement of subsequent liens.

RELATED TERMS
  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Delinquent Mortgage

    A mortgage for which the borrower has failed to make payments ...
  3. Balloon Mortgage

    A type of short-term mortgage. Balloon mortgages require borrowers ...
  4. Home Mortgage Disclosure Act - ...

    A federal act approved in 1975 that requires mortgage lenders ...
  5. Loan

    The act of giving money, property or other material goods to ...
  6. Home Equity

    The value of ownership built up in a home or property that represents ...
Related Articles
  1. Mortgage Points: What's The Point?
    Credit & Loans

    Mortgage Points: What's The Point?

  2. Understanding Your Mortgage
    Personal Finance

    Understanding Your Mortgage

  3. Mortgages: How Much Can You Afford?
    Budgeting

    Mortgages: How Much Can You Afford?

  4. Home-Equity Loans: The Costs
    Options & Futures

    Home-Equity Loans: The Costs

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center