# mortgage (financial)

a loan that is bound to a property

- Computed level: L18 (depth in the emergence graph, not abstraction)
- Status: review  ·  Domain: finance  ·  Arena: mortgage

## Emergence
**Emerges from:** [loan](https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-loan.financial), [estate](https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-estate.property), [boundary](https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-boundary.limit), [property](https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-property.attribute)

**Through:** the loan is bound to the property

**Novel properties:**
- secured obligation
- collateral dependence
- repayment tied to asset

## Examples
- In 2008, Lehman Brothers held mortgage-backed securities tied to subprime loans on U.S. homes. *(economics)*
- The 15-year fixed-rate mortgage at 4.5% offered by Chase Bank in 2023 bound the borrower to repay with interest. *(institutions)*
- A Tokyo apartment building financed through a 35-year mortgage from Mitsubishi UFJ in 2021 secured the loan against the property title. *(engineering)*

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*Canonical: https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-mortgage.financial*  
*Structured data: https://emergencemachine.com/tools/lexicon/what-is-the-meaning-of-mortgage.financial.json*  
*Every definition provably resolves to space, time, energy and pattern.*