secondary mortgage market
英[ˈsekəndəri ˈmɔ:ɡidʒ ˈmɑ:kit]美[ˈsɛkənˌdɛri ˈmɔrɡɪdʒ ˈmɑrkɪt]
The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans. A mortgage lender, commercial banks, or specialized firm will group together many loans (from the "primary mortgage market"Definition of 'Primary Mortgage Market'