• Is a mortgage industry term that describes the aging process underlying collateral. It refers to mortgages, which are at least 30 months old and are expected to have relatively stable prepayment rates.

 Embedded terms in definition
 Referenced Terms
 Aging: Is the concept which assumes that newly issued mortgages tend to prepay slower than mortgages which are older or Seasoned. This aging refers to the underlying collateral and not the securities created upon that collateral.

 Delayed issuance pool: Refers to MBSs that at the time of issuance were collateralized by Seasoned loans originated prior to the MBS pool issue date.

 Green: Is a mortgage backed securities term which indicates mortgages which are not Seasoned yet. Typically, a mortgage that is less than 30 months old is considered green.

 Seasoned new issue: A new issue of stock after the company's securities have previously been issued. A Seasoned new issue of common stock can be made by using a cash offer or a rights offer.

 Secondary issue: (1) Procedure for selling blocks of Seasoned issues of stocks. (2) More generally, sale of already issued stock.

 Related Terms
 Seasoned datings
Seasoned issue
Seasoned new issue

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

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