Safe as houses
You could say that mortgage funds are safe. You could also say they're a little dull - and that's just fine with investors.
Tuesday, May 13th 2003, 10:53PM
by The Landlord
The idea behind a mortgage fund is simplicity itself: the fund manager gathers in a lot of money from investors, lends it out to property buyers, who make interest and principal payments, which are then passed on to the investors. Along the way the manager makes a profit by deducting fees.
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