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Seasoned Loan

 

Loan that has been on the books for at least a year and has a satisfactory payment record. Mortgage loans that have been on the books for a period longer than a year command a premium over unseasoned loans when sold in the Secondary Mortgage Market.

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A loan on which several payments have been collected.


Example: The seller accepts a second mortgage on the property sold. After he collects 12 months of payments, the loan is considered seasoned and can more easily be sold to a second mortgage investor.

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Copyrights:

Barron's Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
Barron's Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.  Read more

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