Remortgaging can participate in repurchase agreements commonly known as rest. In a two-party repurchase agreement, one party sells a security to the other deposit at a price with an obligation to redeem the security at another price at a later date. Overnight retreats, the most widely used form of this agreement, include a sale that takes place on the first day and a buyback that will cancel the transaction the next day. Long-term retirement operations, which are less used, extend over a fixed period of up to three months. Permanent pensions are also possible. What is called an inverted repo is no different from a repo; it only describes the opposite side of the transaction. The seller of the security who subsequently buys it back concludes a retirement contract; the buyer who then resells the security enters into a reverse retirement transaction. Notwithstanding its nominal form of sale and subsequent redemption of a security, the economic effect of a repurchase transaction is that of an insured loan. After the collapse of Lehman, large hedge funds, in particular, became more cautious when it came to re-engaging their collateral and, even in Britain, they insisted on contracts that limit the amount of their assets that could be seized, or even prohibit further seizure altogether. In 2009, the IMF estimated that funds available by U.S. banks as a result of seizures had more than halved to $2.1 trillion, both due to the decrease in initial guarantees available for seizure and a lower leakage factor.   A standard form for the mortgage agreement from the SEC records can be found here.