without recourse is a term used in the secondary mortgage market. It is a clause in a sales contract by which a lender sells mortgage loans to an investor. It means the seller/lender is under no obligation to reimburse the buyer/investor for any losses resulting from the purchased loans. See: with full recourse.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). without recourse. Retrieved September 21, 2026, from http://smartdefine.org/without_recourse/definitions/1166576 |
| Chicago | Barry Goldsmith. 2010. "without recourse" http://smartdefine.org/without_recourse/definitions/1166576 (accessed September 21, 2026). |
| Harvard | Barry Goldsmith 2010, without recourse, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/without_recourse/definitions/1166576>. |
| MLA | Barry Goldsmith. "without recourse" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/without_recourse/definitions/1166576> |