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. Fannie Mae - Federal National Mortgage ...

    A government-sponsored enterprise (GSE) that was created in 1938 ...
  6. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
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. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center