A condition attached to the sale of a mortgage on the secondary market, in which the seller is required to deliver the mortgage by a specified date. In contrast to a best-effort mortgage lock, the seller assumes the risk under a mandatory mortgage lock.
Related information about mandatory mortgage lock:
- Mandatory Mortgage Lock Definition | Investopedia
The sale of a mortgage in the secondary mortgage market with terms that require the seller of the mortgage to make delivery to the buyer by a certain date or ...
- Best Efforts Mortgage Lock Definition | Investopedia
Mandatory Mortgage Lock. The sale of a ... Mortgage Originator. An institution ... Hedge. Making an ... Secondary Mortgage Market. The market where .
- Mandatory Mortgage Lock: Definition from Answers.com
Mandatory Mortgage Lock The sale of a mortgage in the secondary mortgage market with terms that require the seller of the mortgage to make delivery.
- What is mandatory mortgage lock? definition and meaning
Definition of mandatory mortgage lock: A condition attached to the sale of a mortgage on the secondary market, in which the seller is required to deliver the ...
- What is lock? definition and meaning
foreign exchange derivatives · lock up · lock into · spreadlock · lock commitment letter · put-call parity · mandatory mortgage lock · lock jumper · maximum lock ...
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mandatory quote period. mandatory mortgage lock · mandatory redemption schedule. Definition. The required period that market makers must display security ...
- What is mandatory e-file? definition and meaning
mandatory e-file. mandatory e-file · mandatory mortgage lock. Definition. A requirement established by the IRS and state taxing authorities that tax preparers who ...
- What is best effort? definition and meaning
best effort. best efforts mortgage lock · mandatory mortgage lock ... Related Terms . mandatory mortgage lock · all or none · all or none · best efforts mortgage lock ...