Primary Mortgage Market
The market where borrowers and mortgage originators come together to negotiate terms and effectuate mortgage transaction. Mortgage brokers, mortgage bankers, credit unions and banks are all part of the primary mortgage market. Investopedia Says:
After being originated in the primary mortgage market, most mortgages are sold into the secondary mortgage market. Unknown to many borrowers is that their mortgages usually end up as part of a package of mortgages that comprise a mortgage-backed security (MBS), asset-backed security (ABS) or collateralized debt obligation (CDO). Related Terms:
Collateralized Debt Obligation - CDO
Collateralized Mortgage Obligation - CMO
Mortgage Banker
Mortgage Broker
Mortgage Originator
Mortgage Servicing Rights - MSR
Mortgage-Backed Securities - MBS
Purchase Mortgage Market
Secondary Mortgage Market
Warehouse Lending |