Blanket Mortgages - definition of Blanket Mortgages by The Free Dictionary
Blanket mortgage (redirected from Blanket Mortgages)
Also found in: Financial
|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.|
References in periodicals archive
However, the danger of blanket mortgages
when something goes wrong can be a nightmare.
frequently are incurred by subdividers or developers who have purchased a single tract of land for the purpose of dividing it into smaller parcels for sale or development.
Eventually these blanket mortgages
, which encompass multiple encumbered assets with individual legal descriptions, could comprise the multiborrower debt collateral pools underlying some types of securitizations.