Mers mortgage Meaning and Definition

Pronunciation

/ˈmɜːrz ˈmɔːrɡɪdʒ/

Part of Speech

Noun

Definition

A type of mortgage that is assigned to a nominee, typically a Trustee, for the purpose of securing a loan or other financial obligation, often used in securitization transactions.

Examples

The MERS Mortgage was used to secure the loan for the commercial property.
MERS Mortgages are commonly used in the financial industry for securitization purposes.

Synonyms

Mortgage-backed security
Bond

Antonyms

Nominal note
IOU

Additional Information

MERS Mortgages are used to facilitate the transfer of ownership and payment of mortgages. They are often used in securitization transactions to create mortgage-backed securities. MERS Mortgages can be used to secure a wide range of financial obligations, including loans, credit cards, and lines of credit.

MERS Mortgages have been criticized for their complexity and potential for abuse, leading to regulatory changes aimed at improving transparency and accountability in the mortgage industry.

Etymology

The term “MERS Mortgage” is derived from the name of the Mortgage Electronic Registration Systems, a privately owned corporation that specializes in the creation and maintenance of MERS Mortgages.

Usage Notes

MERS Mortgages are typically used by financial institutions, investment firms, and other corporations.

MERS Mortgages can be used to secure a variety of financial obligations, including loans, credit cards, and lines of credit.

Cultural References

MERS Mortgages have been featured in various movies and TV shows, such as “The Big Short” and “Billions.”

Idiomatic Expressions or Phrases

N/A

Related Words or Phrases

Mortgage-backed security
Bond
Securitization

Collocations

MERS Mortgage portfolio
MERS Mortgage-backed security
MERS Mortgage-backed bond

Frequency of Use

MERS Mortgages are commonly used in the financial industry, particularly in securitization transactions. They are less commonly used in everyday mortgage transactions.

Common Misspellings

Myers Mortgage, Mere Mortgage, Mar’s Mortgage