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Blanket mortgage

   Also found in: Financial, Wikipedia 0.01 sec.
1.One that covers a group or class of things or properties instead of one or more things mentioned individually, as where a mortgage secures various debts as a group, or subjects a group or class of different pieces of property to one general lien.


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BLANKET MORTGAGE HAZARD INSURANCE If outsourcing is not a viable option and the financial institution does not wish to track hazard insurance, another coverage option is the blanket mortgage hazard policy.
Blanket Mortgage This type of mortgage will allow you to create a mortgage for different properties.
A new blanket mortgage of $4,760,000 was placed by Meridian on a 65 unit, 6-story multifamily building on Walton Avenue and a 27 unit, 5-story walkup on Marion Ave.
 
 
 
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