Mortgage Value
Definition: Value of real estate for financing purposes.
When the mortgage value is expressed as a percentage of the property value it represents the Loan to value (or LTV) percentage. So a mortgage for 85% of the property value has a LTV of 85%.
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The difference is designed to compensate the lender for costs exceeding the mortgage value. Obligor A person who has an obligation to pay off a debt.
The measure is calculated by totaling each mortgage value represented by the MBS. The weights of each mortgage is found by dividing the value of each into the total of all.
A municipal bond with a face value greater than the value of the underlying property. The difference is designed to compensate the lender for costs exceeding the mortgage value.
Obligor
A person who has an obligation to pay off a debt.
Obligation Bond
A mortgage bond that has a face value greater than the underlying property's value. The excess amount is the lender's cost that exceeds the mortgage value.
See: Face Value; General Mortgage Bond ...
Obligation bond
A municipal bond with a face value greater than the value of the underlying property. The difference is designed to compensate the lender for costs exceeding the mortgage value.
It is charged to insure against any risk of the lender losing any money if they need to repose the property and sell at below the mortgage value. This used to be called a Mortgage Indemnity Guarantee (MIG) ...
 See also: Obligation bond, Refinancing, Round lot, Asked price, Below par
  
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