MORTGAGE-BACKED SECURITY
\mˈɔːɡɪd͡ʒbˈakt sɪkjˈʊ͡əɹɪti], \mˈɔːɡɪdʒbˈakt sɪkjˈʊəɹɪti], \m_ˈɔː_ɡ_ɪ_dʒ_b_ˈa_k_t s_ɪ_k_j_ˈʊə_ɹ_ɪ_t_i]\
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a security created when a group of mortgages are gathered together and bonds are sold to other institutions or the public; investors receive a portion of the interest payments on the mortgages as well as the principal payments; usually guaranteed by the government
By Princeton University
