Super Finance Glossary
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Over 10,000 financial glossary terms...
Obligation Bond
Obligation Bond
Definition: A municipal bond with a face value greater than the value of the underlying property. The difference is designed to compensate the lender for costs exceeding the mortgage value.
Definition: A municipal bond with a face value greater than the value of the underlying property. The difference is designed to compensate the lender for costs exceeding the mortgage value.