mortgagebond抵押债券；抵押担保债券
指以债券发行人的动产、不动产作为抵押担保而发行的债券，该种债券以信托契约转让方式将财产抵押权转移给债券持有人。抵押债券依抵押权的优先级可分为第一级抵押债券、第二级抵押债券、第三级抵押债券，依次类推。大多数抵押债券是由特定不动产作为抵押财产的第一级抵押债券，也有对发起人的总资产设立抵押担保的抵押债券。在后一种情形下，相对于未设立抵押担保的债券而言，抵押债券享有优先受偿权。
Amortgagebondisabondinwhichholdershaveaclaimontherealestateassetsputupasitscollateral.Alendermightsellacollectionofmortgagebondstoaninvestor,whothencollectstheinterestpaymentsoneachmortgageuntilit’spaidoff.Ifthemortgageownerdefaults,thebondholdergetsherhouse.Banksoftenhaveahugenumberofmortgagesontheirbooks.However,theydon’talwayswanttowaitforthemortgagestoturnprofitableforthem.Sometimes,they’llpackagemanymortgagesintoabondandsellthattomakeashort-termprofitinstead.Theinvestorwhopurchasesthemortgagebondhastherighttocollectinterestpaymentsonthemortgagesaswellaspaymentstowardtheprincipal.Iftheborrowerdefaults,theinvestorcanalsoforecloseonherhouse.Ontheotherhand,ifthemortgageehappenstopayoffhermortgageearly,theinvestorcouldlosemoneyonfutureinterestpayments.以下为具体例句，供参考：
例句1
Amortgagebondissecuredbyamortgage,orapoolofmortgages,thataretypicallybackedbyrealestateholdingsandrealproperty,suchasequipment.
抵押债券由抵押贷款或抵押贷款池担保，抵押贷款池通常由不动产和不动产（如设备）支持。
例句2
Mortgagebondsoffertheinvestorprotectionbecausetheprincipalissecuredbyavaluableasset.Intheeventofdefault,mortgagebondholderscouldsellofftheunderlyingpropertyto