MORTGAGE-BACKED REVENUE BOND
A municipal agreement that renders payment to holders according to revenues yielded from real estate. Also, financial institutions usually offer these bonds at relatively low interest rates. Proceeds are utilized to provide financing to these institutions, and in return use the money to make mortgage loans with low interest rate.
For instance, municipalities would use the bonds to finance public construction projects. Borrowers shoulder the interest and principal payments.
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Jitney
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