0 used to describe an investment, especially a bond, in which the money that is used to pay back mortgages is used to pay interest on the investment:
The offering primarily targeted investments in non-agency mortgage-backed securities.
The investor sells a mortgage-backed security for settlement on one date and buys it back for settlement at a later date.
In many cases, the long-term assets purchased were mortgage-backed securities, sometimes called toxic assets or legacy assets in the press.
The rating agencies grossly erred in their assessment of risky mortgage-backed securities, providing the highest safety rating to securities that later became worthless.
The majority of single-seller conduits mainly fund credit-card receivables, mortgages, mortgage-backed securities, or auto loans.
Many investment banks had limited capital to offset declines in their holdings of mortgage-backed securities, or to support their side of credit default insurance contracts.
The total amount of mortgage-backed securities issued almost tripled between 1996 and 2007, to $7.3 trillion.
First, during late 2007, over 100 mortgage lending companies went bankrupt as subprime mortgage-backed securities could no longer be sold to investors to acquire funds.
