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A security instrument is a document that creates or acknowledges a security interest in collateral. The collateral may be personal property, such as inventory, accounts receivable, or equipment, or it may be real property, such as land or buildings.

Collateral Security Instrument means any right, document or instrument, other than the Mortgage, given as security for the Loan, including, without limitation, the Assignment of Rents and Leases, the Collateral Assignment of Hedge, the Note Pledge Agreement and the Contract Assignment.

Collateral is something of value given as security for a debt. A loan secured by a lien on real property (whether a mortgage, deed of trust, or land contract) makes the real property the collateral for the loan.

Because the borrower might be cash poor or have other debts, lenders will secure the note with a security instrument, such as a mortgage or a deed of trust. The type of instrument chosen can have substantial legal implications for both the lender and the borrower.

Definition of 'Master Mortgage' The Master Mortgage is a document created when a property is purchased for the first time. It is filed in the public land records and its purpose is to keep track of the initial mortgage and of any liens that might be associated with the property.

Fannie Mae's mission is to facilitate equitable and sustainable access to homeownership and quality, affordable rental housing across America. We continue to address the inequities of the past and are working to reduce the housing gaps that exist for members of underserved communities.