Open-end mortgage bonds allow the firm to issue additional bonds in the future, using the same assets
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Open-end mortgage bonds allow the firm to issue additional bonds in the future, using the same assets as collateral and giving the same priority of claim against those assets.
Closed-end mortgage bonds prohibit the firm from issuing additional bonds using the same assets as collateral and giving the same priority of claim against those assets. LO.1
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Related Book For 
Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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