The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.

The term 'second mortgage market' refers to all the people who have taken a second mortgage out on a property. This market has dramatically increased in size given the recent economic conditions in the housing market.

Secondary market transactions may be needed to correct interregional imbalances in the supply of and demand for mortgage credit, or to move mortgage assets from one type of institution to another within the same market area

conventional loans

Michael D. Grace has written:

'Alternative mortgage instruments and the secondary market' -- subject(s): Mortgage loans