Individual investors and financial organizations can purchase seasoned mortgages and deeds of trust through the federal national mortgage association (fnma). A mortgage that has been in place for some time and has a solid track record of repayment by the mortgagor is seasoned.
What does the term "mortgage" mean?
a formal arrangement through which the owner (i.e., the buyer) gives the lender the title to their property as security for the payment of a mortgage note. After the debt is settled and the mortgage is thrown out, a satisfaction of mortgage is submitted to the registrar or recorder of deeds in the county where the mortgage was recorded.
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