MORTGAGE-BACKED REVENUE BOND
\mˈɔːɡɪd͡ʒbˈakt ɹˈɛvənjˌuː bˈɒnd], \mˈɔːɡɪdʒbˈakt ɹˈɛvənjˌuː bˈɒnd], \m_ˈɔː_ɡ_ɪ_dʒ_b_ˈa_k_t ɹ_ˈɛ_v_ə_n_j_ˌuː b_ˈɒ_n_d]\
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Local or municipality issued bonds to fund low interest rate mortgages. the mortgage payments pay back the mortgage-backed revenue bonds. Similar to mortgage backed securities. Each bond has its own short-term maturity date, varying from 18 months up to 4 years. Also known as housing bond.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).