Definition: The "mortgage word origin" refers to how a term was originally derived from its Latin meaning, which translates as "to place upon," or "to be placed on." The term "mortgage" likely originates from a Roman loan process where debtors would pay off a principal amount of money lent by the lender and agreed not to claim it back until repayment had been made. This process was often referred to as a "gilt." The term became standardized in English, when it came into use during the 16th century when people were using a different term for borrowing. The word is still commonly used today as a generic term that refers to any form of financial obligation or debt.
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