define blanket assignment

Blanket Contracts: Everything You Need to Know

Blanket contracts, also called blanket orders, standing orders, open orders, or blanket purchase orders (BPOs), represent an agreement between a buyer and seller to purchase goods or services from a specific vendor. 4 min read updated on January 01, 2024

Blanket contracts, also called blanket orders, standing orders, open orders, or blanket purchase orders (BPOs), represent an agreement between a buyer and seller to purchase goods or services from a specific vendor. Usually developed by a business' purchasing department, blanket contracts are different from regular purchase orders in that they establish an ongoing relationship between a business and its supplier and set time and dollar limits. To make a purchase when you're using a blanket contract, you issue a release against it.

When Should I Use a Blanket Contract?

TAPN advisory consultant Tom Nichols points out that blanket purchase orders are usually in effect for 12 months at a time before they are renegotiated. Maintenance or service agreements are a good example of this type of contract. Often you see this type of document used between universities and their suppliers for short-term contracts.

Documentation related to purchasing decisions must be thorough and well-researched, so purchasing supplies with one of these contracts in place can be a lengthy and complex process. However, blanket contracts can be used as a shortcut in certain circumstances. For example, if you are going to buy the same product from the same vendor repeatedly over time, a BPO can streamline your business, especially for inexpensive goods that you use up quickly. 

A blanket order can also be used in association with a contract that's already in place or with a new agreement once negotiations are complete. Such a document is often used with a purchasing card or a ghost account when it involves purchasing many small, inexpensive items from a single vendor.

Blanket contracts are used most effectively when the buyer:

• purchases the same item or service repeatedly from the same vendor.
• makes payment in the same way over the term of the contract, which is usually one year.
• orders the same materials sent in multiple shipments.
• gets better pricing by purchasing in volume.

When Should I Avoid Using a Blanket Contract?

BPOs are not a good idea if:

• The goal is to establish an open line of credit.
• Prices are not known or fixed.
• Quality is questionable.

The Benefits of Blanket Orders

Blanket orders are helpful to sellers and purchasers alike. Suppliers appreciate the opportunity to establish repeat customers. They know that buyers are less likely to explore other sources if a standing contract is already in place.

Buyers enjoy this method of purchasing because it involves less paperwork and time to buy from an already-approved vendor. The customer knows how much they will pay each time, which helps control expenses. They also know what quality to expect from the product or service, and having a BPO in place can help resolve any disputes that may arise.

However, the buyer is still free to shop around for other items since the open order specifies the item to be purchased and the quantity. For example, a company that leases computer monitors could set the price of the devices for the coming year. Since the agreement only applies to monitors, the buyer can still shop around for the best price on other computer components and establish another open order for that.

What Should a BPO Include?

A BPO should include:

• the length of the agreement, usually one year.
• cancellation terms.
• the number of the previous agreement if this is a replacement.
• items covered.
• the maximum quantity.
• payment arrangements.
• information required by the DEA if regulated or controlled substances are involved.

Risks of Using Blanket Purchase Orders

Blanket purchase orders have benefits, but they also carry the risk of being compromised if mistakes are made.  According to Nichols, regular maintenance is critical, since the most common error is a failure to monitor the agreement. If the contract expires or the dollar limit is reached, the terms revert to the standard. To avoid this, Nichols recommends that accounts payable keep copies of all BPOs.

Blanket Contracts Versus Volume Purchasing

Blanket contracts are different from volume purchasing documents. While both types of contracts govern ongoing purchases, volume agreements set a quantity of goods or services that must be purchased or the buyer faces a penalty. 

Even when blank orders include a maximum budget, it's still not a strict limitation. Buyers can purchase up to the limit set in the contract, but they are not required to buy anything at all. The agreement simply lays out the parameters of the relationship between the parties. In order to make a purchase, the buyer contacts the seller to initiate the order during the term of the agreement.

If you need help drafting or interpreting a blanket contract, you can  post your legal need  on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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Content Approved by UpCounsel

• Purchase Order Law
• Contract Requisition
• Types of Vendor Contracts
• Prime Vendor Agreement
• What Is Purchase and Sale Agreement Definition?
• What Is the Definition of Purchase Agreement?
• Business Sales Contract
• Requirements Contract
• Purchase and Sales Agreement
• Writing Contracts for Services

B8-6-01, Authorized Use of Intervening and Blanket Assignments (05/04/2022)

Intervening assignments, blanket assignments, special provision for puerto rico.

If the originating lender is not servicing the loan at the time of the sale to Fannie Mae, then unless the loan has been registered with MERS or the loan is secured by a property in Puerto Rico, the seller of the loan must cause to be recorded one or more intervening assignments of mortgage to ensure there are effective mortgage assignment(s) from the originating lender to the servicer.  Copies of all such assignments must be retained in the loan file.

Lenders may use blanket assignments for any intervening assignments that take place before the mortgage is sold to Fannie Mae, as long as this type of assignment is acceptable to the applicable recording jurisdiction (blanket assignments are assignments that cover more than one mortgage). Each blanket assignment must relate to a single recording jurisdiction.

The lender may be required to indemnify Fannie Mae (as described in  A2-1-03, Indemnification for Losses A2-1-03, Indemnification for Losses ), for any losses incurred by Fannie Mae due to the lender’s failure to obtain, record (if applicable), and retain the necessary intervening assignments. Alternatively, Fannie Mae may require the lender to repurchase the mortgage or the security property.

Assignments of mortgages generally are not recordable in Puerto Rico. Therefore, no intervening assignments need to be prepared, recorded, or retained in the individual mortgage loan file.

The table below provides references to recently issued Announcements that are related to this topic.

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Originating & Underwriting

Selling Guide

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(Published: August 07 2024)

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• Copyright and Preface
• A1-1-01, Application and Approval of Seller/Servicer
• A2-1-01, Contractual Obligations for Sellers/Servicers
• A2-1-02, Nature of Mortgage Transaction
• A2-1-03, Indemnification for Losses
• A2-2-01, Representations and Warranties Overview
• A2-2-02, Delivery Information and Delivery-Option Specific Representations and Warranties
• A2-2-03, Document Warranties
• A2-2-04, Limited Waiver and Enforcement Relief of Representations and Warranties
• A2-2-05, Invalidation of Limited Waiver of Representations and Warranties
• A2-2-06, Representations and Warranties on Property Value
• A2-2-07, Life-of-Loan Representations and Warranties
• A2-3.1-01, Lender Breach of Contract
• A2-3.1-02, Sanctions, Suspensions, and Terminations
• A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae
• A2-3.2-02, Enforcement Relief for Breaches of Certain Representations and Warranties Related to Underwriting and Eligibility
• A2-3.2-03, Remedies Framework
• A2-3.3-01, Compensatory Fees
• A2-4.1-01, Establishing Loan Files
• A2-4.1-02, Ownership and Retention of Loan Files and Records
• A2-4.1-03, Electronic Records, Signatures, and Transactions
• A2-4.1-04, Notarization Standards
• A2-5-01, Fannie Mae Trade Name and Trademarks
• A3-1-01, Fannie Mae’s Technology Products
• A3-2-01, Compliance With Laws
• A3-2-02, Responsible Lending Practices
• A3-3-01, Outsourcing of Mortgage Processing and Third-Party Originations
• A3-3-02, Concurrent Servicing Transfers
• A3-3-03, Other Servicing Arrangements
• A3-3-04, Document Custodians
• A3-3-05, Custody of Mortgage Documents
• A3-4-01, Confidentiality of Information
• A3-4-02, Data Quality and Integrity
• A3-4-03, Preventing, Detecting, and Reporting Mortgage Fraud
• A3-5-01, Fidelity Bond and Errors and Omissions Coverage Provisions
• A3-5-02, Fidelity Bond Policy Requirements
• A3-5-03, Errors and Omissions Policy Requirements
• A3-5-04, Reporting Fidelity Bond and Errors and Omissions Events
• A4-1-01, Maintaining Seller/Servicer Eligibility
• A4-1-02, Submission of Financial Statements and Reports
• A4-1-03, Report of Changes in the Seller/Servicer’s Organization
• A4-1-04, Submission of Irrevocable Limited Powers of Attorney
• B1-1-01, Contents of the Application Package
• B1-1-02, Blanket Authorization Form
• B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns
• B2-1.1-01, Occupancy Types
• B2-1.2-01, Loan-to-Value (LTV) Ratios
• B2-1.2-02, Combined Loan-to-Value (CLTV) Ratios
• B2-1.2-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios
• B2-1.2-04, Subordinate Financing
• B2-1.3-01, Purchase Transactions
• B2-1.3-02, Limited Cash-Out Refinance Transactions
• B2-1.3-03, Cash-Out Refinance Transactions
• B2-1.3-04, Prohibited Refinancing Practices
• B2-1.3-05, Payoff of Installment Land Contract Requirements
• B2-1.4-01, Fixed-Rate Loans
• B2-1.4-02, Adjustable-Rate Mortgages (ARMs)
• B2-1.4-03, Convertible ARMs
• B2-1.4-04, Temporary Interest Rate Buydowns
• B2-1.5-01, Loan Limits
• B2-1.5-02, Loan Eligibility
• B2-1.5-03, Legal Requirements
• B2-1.5-04, Escrow Accounts
• B2-1.5-05, Principal Curtailments
• B2-2-01, General Borrower Eligibility Requirements
• B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements
• B2-2-03, Multiple Financed Properties for the Same Borrower
• B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction
• B2-2-05, Inter Vivos Revocable Trusts
• B2-2-06, Homeownership Education and Housing Counseling
• B2-2-07, First-Generation Homebuyer Loans
• B2-3-01, General Property Eligibility
• B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing
• B2-3-03, Special Property Eligibility and Underwriting Considerations: Leasehold Estates
• B2-3-04, Special Property Eligibility Considerations
• B2-3-05, Properties Affected by a Disaster
• B3-1-01, Comprehensive Risk Assessment
• B3-2-01, General Information on DU
• B3-2-02, DU Validation Service
• B3-2-03, Risk Factors Evaluated by DU
• B3-2-04, DU Documentation Requirements
• B3-2-05, Approve/Eligible Recommendations
• B3-2-06, Approve/Ineligible Recommendations
• B3-2-07, Refer with Caution Recommendations
• B3-2-08, Out of Scope Recommendations
• B3-2-09, Erroneous Credit Report Data
• B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report
• B3-2-11, DU Underwriting Findings Report
• B3-3.1-01, General Income Information
• B3-3.1-02, Standards for Employment Documentation
• B3-3.1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income
• B3-3.1-04, Commission Income
• B3-3.1-05, Secondary Employment Income (Second Job and Multiple Jobs) and Seasonal Income
• B3-3.1-06, Requirements and Uses of IRS IVES Request for Transcript of Tax Return Form 4506-C
• B3-3.1-07, Verbal Verification of Employment
• B3-3.1-08, Rental Income
• B3-3.1-09, Other Sources of Income
• B3-3.1-10, Income Calculator
• B3-3.2-01, Underwriting Factors and Documentation for a Self-Employed Borrower
• B3-3.2-02, Business Structures
• B3-3.2-03, IRS Forms Quick Reference
• B3-3.3-01, General Information on Analyzing Individual Tax Returns
• B3-3.3-02, Income Reported on IRS Form 1040
• B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule C
• B3-3.3-04, Income or Loss Reported on IRS Form 1040, Schedule D
• B3-3.3-05, Income or Loss Reported on IRS Form 1040, Schedule E
• B3-3.3-06, Income or Loss Reported on IRS Form 1040, Schedule F
• B3-3.3-07, Income or Loss Reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1
• B3-3.4-01, Analyzing Partnership Returns for a Partnership or LLC
• B3-3.4-02, Analyzing Returns for an S Corporation
• B3-3.4-03, Analyzing Returns for a Corporation
• B3-3.4-04, Analyzing Profit and Loss Statements
• B3-3.5-01, Income and Employment Documentation for DU
• B3-3.5-02, Income from Rental Property in DU
• B3-4.1-01, Minimum Reserve Requirements
• B3-4.1-02, Interested Party Contributions (IPCs)
• B3-4.1-03, Types of Interested Party Contributions (IPCs)
• B3-4.1-04, Virtual Currency
• B3-4.2-01, Verification of Deposits and Assets
• B3-4.2-02, Depository Accounts
• B3-4.2-03, Individual Development Accounts
• B3-4.2-04, Pooled Savings (Community Savings Funds)
• B3-4.2-05, Foreign Assets
• B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds
• B3-4.3-02, Trust Accounts
• B3-4.3-03, Retirement Accounts
• B3-4.3-04, Personal Gifts
• B3-4.3-05, Gifts of Equity
• B3-4.3-06, Grants and Lender Contributions
• B3-4.3-07, Disaster Relief Grants or Loans
• B3-4.3-08, Employer Assistance
• B3-4.3-09, Earnest Money Deposit
• B3-4.3-10, Anticipated Sales Proceeds
• B3-4.3-11, Trade Equity
• B3-4.3-12, Rent-Related Credits
• B3-4.3-13, Sweat Equity
• B3-4.3-14, Bridge/Swing Loans
• B3-4.3-15, Borrowed Funds Secured by an Asset
• B3-4.3-16, Credit Card Financing and Reward Points
• B3-4.3-17, Personal Unsecured Loans
• B3-4.3-18, Sale of Personal Assets
• B3-4.3-19, Cash Value of Life Insurance
• B3-4.3-20, Anticipated Savings and Cash-on-Hand
• B3-4.3-21, Borrower's Earned Real Estate Commission
• B3-4.4-01, DU Asset Verification
• B3-4.4-02, Requirements for Certain Assets in DU
• B3-5.1-01, General Requirements for Credit Scores
• B3-5.1-02, Determining the Credit Score for a Mortgage Loan
• B3-5.2-01, Requirements for Credit Reports
• B3-5.2-02, Types of Credit Reports
• B3-5.2-03, Accuracy of Credit Information in a Credit Report
• B3-5.3-01, Number and Age of Accounts
• B3-5.3-02, Payment History
• B3-5.3-03, Previous Mortgage Payment History
• B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit
• B3-5.3-05, Credit Utilization
• B3-5.3-06, Authorized Users of Credit
• B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit
• B3-5.3-08, Extenuating Circumstances for Derogatory Credit
• B3-5.3-09, DU Credit Report Analysis
• B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit
• B3-5.4-02, Number and Types of Nontraditional Credit References
• B3-5.4-03, Documentation and Assessment of a Nontraditional Credit History
• B3-6-01, General Information on Liabilities
• B3-6-02, Debt-to-Income Ratios
• B3-6-03, Monthly Housing Expense for the Subject Property
• B3-6-04, Qualifying Payment Requirements
• B3-6-05, Monthly Debt Obligations
• B3-6-06, Qualifying Impact of Other Real Estate Owned
• B3-6-07, Debts Paid Off At or Prior to Closing
• B3-6-08, DU: Requirements for Liability Assessment
• B4-1.1-01, Definition of Market Value
• B4-1.1-02, Lender Responsibilities
• B4-1.1-03, Appraiser Selection Criteria
• B4-1.1-04, Unacceptable Appraisal Practices
• B4-1.1-05, Disclosure of Information to Appraisers
• B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP)
• B4-1.2-01, Appraisal Report Forms and Exhibits
• B4-1.2-02, Desktop Appraisals
• B4-1.2-03, Hybrid Appraisals
• B4-1.2-04, Appraisal Age and Use Requirements
• B4-1.2-05, Requirements for Verifying Completion and Postponed Improvements
• B4-1.3-01, Review of the Appraisal Report
• B4-1.3-02, Subject and Contract Sections of the Appraisal Report
• B4-1.3-03, Neighborhood Section of the Appraisal Report
• B4-1.3-04, Site Section of the Appraisal Report
• B4-1.3-05, Improvements Section of the Appraisal Report
• B4-1.3-06, Property Condition and Quality of Construction of the Improvements
• B4-1.3-07, Sales Comparison Approach Section of the Appraisal Report
• B4-1.3-08, Comparable Sales
• B4-1.3-09, Adjustments to Comparable Sales
• B4-1.3-10, Cost and Income Approach to Value
• B4-1.3-11, Valuation Analysis and Reconciliation
• B4-1.3-12, Appraisal Quality Matters
• B4-1.4-01, Factory-Built Housing: Manufactured Housing
• B4-1.4-02, Factory-Built Housing: Modular, Prefabricated, Panelized, or Sectional Housing
• B4-1.4-03, Condo Appraisal Requirements
• B4-1.4-04, Co-op Appraisal Requirements
• B4-1.4-05, Leasehold Interests Appraisal Requirements
• B4-1.4-06, Community Land Trust Appraisal Requirements
• B4-1.4-07, Mixed-Use Property Appraisal Requirements
• B4-1.4-08, Environmental Hazards Appraisal Requirements
• B4-1.4-09, Special Assessment or Community Facilities Districts Appraisal Requirements
• B4-1.4-10, Value Acceptance (Appraisal Waiver)
• B4-1.4-11, Value Acceptance + Property Data
• B4-2.1-01, General Information on Project Standards
• B4-2.1-02, Waiver of Project Review
• B4-2.1-03, Ineligible Projects
• B4-2.1-04, Environmental Hazard Assessments
• B4-2.1-05, Unacceptable Environmental Hazards
• B4-2.1-06, Remedial Actions for Environmental Hazard Assessments Below Standards
• B4-2.2-01, Limited Review Process
• B4-2.2-02, Full Review Process
• B4-2.2-03, Full Review: Additional Eligibility Requirements for Units in New and Newly Converted Condo Projects
• B4-2.2-04, Geographic-Specific Condo Project Considerations
• B4-2.2-05, FHA-Approved Condo Review Eligibility
• B4-2.2-06, Project Eligibility Review Service (PERS)
• B4-2.2-07, Projects with Special Considerations and Project Eligibility Waivers
• B4-2.3-01, Eligibility Requirements for Units in PUD Projects
• B4-2.3-02, Co-op Project Eligibility
• B4-2.3-03, Legal Requirements for Co-op Projects
• B4-2.3-04, Loan Eligibility for Co-op Share Loans
• B4-2.3-05, Geographic-Specific Co-op Project Considerations
• B5-1-01, High-Balance Mortgage Loan Eligibility and Underwriting
• B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations
• B5-2-01, Manufactured Housing
• B5-2-02, Manufactured Housing Loan Eligibility
• B5-2-03, Manufactured Housing Underwriting Requirements
• B5-2-04, Manufactured Housing Pricing, Mortgage Insurance, and Loan Delivery Requirements
• B5-2-05, Manufactured Housing Legal Considerations
• B5-3.1-01, Conversion of Construction-to-Permanent Financing: Overview
• B5-3.1-02, Conversion of Construction-to-Permanent Financing: Single-Closing Transactions
• B5-3.1-03, Conversion of Construction-to-Permanent Financing: Two-Closing Transactions
• B5-3.2-01, HomeStyle Renovation Mortgages
• B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility
• B5-3.2-03, HomeStyle Renovation Mortgages: Collateral Considerations
• B5-3.2-04, HomeStyle Renovation Mortgages: Costs and Escrow Accounts
• B5-3.2-05, HomeStyle Renovation Mortgages: Completion Certification
• B5-3.2-06, HomeStyle Renovation: Renovation Contract, Renovation Loan Agreement, and Lien Waiver
• B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties
• B5-3.4-01, Property Assessed Clean Energy Loans
• B5-4.1-01, Texas Section 50(a)(6) Loans
• B5-4.1-02, Texas Section 50(a)(6) Loan Eligibility
• B5-4.1-03, Texas Section 50(a)(6) Loan Underwriting, Collateral, and Closing Considerations
• B5-4.1-04, Texas Section 50(a)(6) Loan Delivery and Servicing Considerations
• B5-4.2-01, Native American Conventional Lending Initiative (NACLI)
• B5-4.2-02, Disaster-Related Limited Cash-Out Refinance Flexibilities
• B5-4.2-03, Loans Secured by HomePath Properties
• B5-5.1-01, Community Seconds Loans
• B5-5.1-02, Community Seconds Loan Eligibility
• B5-5.1-03, Community Seconds: Shared Appreciation Transactions
• B5-5.2-01, Loans With Resale Restrictions: General Information
• B5-5.2-02, Loans with Resale Restrictions: Eligibility, Collateral and Delivery Requirements
• B5-5.3-01, Shared Equity Overview
• B5-5.3-02, Shared Equity Transactions: General Requirements
• B5-5.3-03, Shared Equity Transactions: Eligibility, Underwriting and Collateral Requirements
• B5-5.3-04, Massachusetts Resale Restriction Loan Eligibility Requirements
• B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility
• B5-6-02, HomeReady Mortgage Underwriting Methods and Requirements
• B5-6-03, HomeReady Mortgage Loan Pricing, Mortgage Insurance, and Special Feature Codes
• B5-7-01, High LTV Refinance Loan and Borrower Eligibility
• B5-7-02, High LTV Refinance Underwriting, Documentation, and Collateral Requirements for the New Loan
• B5-7-03, High LTV Refinance Alternative Qualification Path
• B5-7-04, High LTV Refinance Representations and Warranties
• B5-7-05, High LTV Refinance Pricing, Mortgage Insurance, and Special Feature Codes
• B6-1-01, General Government Mortgage Loan Requirements
• B6-1-02, Eligible FHA-Insured Mortgage Loans
• B6-1-03, Eligible VA-Guaranteed Mortgages
• B6-1-04, Eligible HUD-Guaranteed Section 184 Mortgages
• B6-1-05, Eligible RD-Guaranteed Mortgages
• B7-1-01, Provision of Mortgage Insurance
• B7-1-02, Mortgage Insurance Coverage Requirements
• B7-1-03, Lender-Purchased Mortgage Insurance
• B7-1-04, Financed Borrower-Purchased Mortgage Insurance
• B7-1-05, Government Mortgage Loan Guaranty or Insurance
• B7-2-01, Provision of Title Insurance
• B7-2-02, Title Insurer Requirements
• B7-2-03, General Title Insurance Coverage
• B7-2-04, Special Title Insurance Coverage Considerations
• B7-2-05, Title Exceptions and Impediments
• B7-2-06, Attorney Title Opinion Letter Requirements
• B7-3-01, General Property Insurance Requirements for All Property Types
• B7-3-02, Property Insurance Requirements for One-to Four-Unit Properties
• B7-3-03, Master Property Insurance Requirements for Project Developments
• B7-3-04, Individual Property Insurance Requirements for a Unit in a Project Development
• B7-3-05, Additional Insurance Requirements
• B7-3-06, Flood Insurance Requirements for All Property Types
• B7-3-07, Evidence of Property Insurance
• B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements
• B7-4-01, General Liability Insurance Requirements for Project Developments
• B7-4-02, Fidelity/Crime Insurance Requirements for Project Developments
• B8-1-01, Publication of Legal Documents
• B8-2-01, Security Instruments for Conventional Mortgages
• B8-2-02, Special-Purpose Security Instruments
• B8-2-03, Signature Requirements for Security Instruments
• B8-3-01, Notes for Conventional Mortgages
• B8-3-02, Special Note Provisions and Language Requirements
• B8-3-03, Signature Requirements for Notes
• B8-3-04, Note Endorsement
• B8-4-01, Riders and Addenda
• B8-5-01, General Information on Special-Purpose Legal Documents
• B8-5-02, Inter Vivos Revocable Trust Mortgage Documentation and Signature Requirements
• B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements
• B8-5-04, Sample Legal Documents
• B8-5-05, Requirements for Use of a Power of Attorney
• B8-6-01, Authorized Use of Intervening and Blanket Assignments
• B8-7-01, Mortgage Electronic Registration Systems (MERS), Inc.
• B8-8-01, General Information on eMortgages
• B8-8-02, Requirements for Creating, Closing, and Correcting eNotes
• C1-1-01, Execution Options
• C1-2-01, General Information on Delivering Loan Data and Documents
• C1-2-02, Loan Data and Documentation Delivery Requirements
• C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests
• C1-2-04, Delivering eMortgages to Fannie Mae
• -01, Delivering Green MBS to Fannie Mae
• C1-2-05, Bailee Letters
• C1-3-01, General Information on Remittance Types
• C2-1.1-01, Mandatory Commitment Process
• C2-1.1-02, General Information about Mandatory Commitment Pricing and Fees
• C2-1.1-03, Mandatory Commitment Terms, Amounts, Periods and Other Requirements
• C2-1.1-04, Mandatory Commitment Extensions and Pair-Offs
• C2-1.1-05, Servicing Fees
• C2-1.1-06, Accrued Interest Payments for Regularly Amortizing Mortgages
• C2-1.1-07, Standard ARM and Converted ARM Resale Commitments
• C2-1.2-01, Best Efforts Commitment Process
• C2-1.2-02, Best Efforts Commitment Pricing, Periods, and Fees
• C2-1.2-03, Best Efforts Commitment Terms, Amounts, and Other Requirements
• C2-1.3-01, Servicing Marketplace
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• C2-2-05, Whole Loan Purchasing Process
• C2-2-06, Authorization to Transfer Funds
• C2-2-07, Purchase Payee Codes
• C3-1-01, General Information About Fannie Mae’s MBS Program
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• C3-3-01, Determining and Remitting Guaranty Fees
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• C3-5-01, Creating Weighted-Average ARM MBS
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• D1-1-01, Lender Quality Control Programs, Plans, and Processes
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• D1-3-03, Lender Post-Closing Quality Control Review of Data Integrity
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• E-3-20, Acronyms and Glossary of Defined Terms: T
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• E-3-25, Acronyms and Glossary of Defined Terms: Y
• E-3-26, Acronyms and Glossary of Defined Terms: Z

Blanket mortgage: How it works and who should use it

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Key takeaways

• A blanket mortgage helps streamline the process of buying multiple properties at once.
• A blanket mortgage is often used by experienced real estate investors or developers in both the commercial and residential real estate arenas.
• A blanket mortgage can require a high down payment, more closing costs and a balloon payment.

If you are looking to finance more than one property at a time, a blanket mortgage could be a great way to reduce costs and cut down on paperwork. This type of loan isn’t a fit for ordinary homeowners or first-time real estate investors, but it can be a useful tool for sophisticated investors and developers of residential and commercial real estate .

What is a blanket mortgage?

A blanket mortgage, also referred to as a blanket loan, is a mortgage that covers multiple properties, with the group of assets collectively serving as collateral. Real estate developers and investors often purchase more than one property at a time, so a blanket mortgage simplifies the process by grouping those purchases under a single loan.

A blanket mortgage can be refinanced just like any other mortgage. It also allows the borrower to sell one property from the group but retain the loan for the others. Normally, a mortgage needs to be repaid in full when the collateralized property is sold.

Blanket mortgages have applications in both commercial and residential transactions, including those involving the development and management of multifamily housing or apartment buildings. They are also used by individuals who buy and flip homes .

“While they are usually used in a commercial context, there are residential landlords that utilize a blanket mortgage to finance a portfolio of rental properties,” says Greg McBride, CFA, chief financial analyst for Bankrate. Mortgage Who are blanket mortgages best for? Blanket mortgages are designed for companies or tenured investors that purchase properties in bulk. “This is not for a newbie, mom-and-pop landlord that is looking to jump into full-scale real estate management overnight,” says McBride. They are also not intended for use by individuals with two properties, such as a primary home and a vacation home .

Pros and cons of a blanket mortgage

Pros of a blanket mortgage.

• Lower closing costs : You might see some savings with a blanket mortgage because you won’t have to pay separate closing costs and fees for each loan.
• Greater cash flow : You could reinvest the money you save on closing costs back into your portfolio to acquire more properties or launch additional projects.
• Easier administration : One loan means one interest rate, one monthly payment and one escrow account, cutting down on paperwork.
• Continuity : With a blanket mortgage, you don’t have to pay off the entire loan if you sell off just one property. (You do, however, have to pay back the portion of the loan that was securing that property — you can’t just pocket the proceeds from the sale.)

Cons of a blanket mortgage

• More expensive closing costs: While you only have to pay closing costs once, a blanket mortgage’s closing costs are often higher than a single mortgage’s closing costs.
• Higher down payment : Blanket mortgages can require a down payment as high as 50 percent of the combined purchase price of the properties.
• Balloon payments : Blanket mortgages are often structured so the borrower makes lower payments (sometimes interest-only payments) for a period of time, followed by a larger lump-sum payoff. This large payment could be difficult if you don’t plan ahead for it.
• Foreclosure risk : With multiple properties used as collateral, you risk losing them all if you default on the loan.

How to get a blanket mortgage

If you’ve decided that a blanket mortgage might be a good fit for your portfolio, you’ll need to apply — but be aware that the process is different than the one to apply for an ordinary mortgage. Here’s an overview of the steps:

• Find a suitable lender . Most Main Street banks and credit unions don’t offer blanket mortgages. You likely will have to seek out a commercial lender — one that deals in financing for businesses or investments. Certain mortgage brokers specialize in this type of lending as well.
• Check rates and terms. Since blanket loans can come with higher origination fees, the down payment and costs are usually higher than those for ordinary home loans. Comparison-shopping is crucial to get a sense of what’s standard and what may be out of line.
• Verify each lender’s borrower requirements . As with any loan, you need to meet the minimum credit score and maximum debt-to-income ratio (DTI) threshold to qualify for a blanket mortgage — but the bar might be even higher. If applicable, the lender will review your company’s credit rating and debt-service coverage ratio (DSCR) , as well.
• Fill out your application. Gather all of your business documentation (credit reports, tax returns, financial statements) ahead of time. The lender will also want to see details on all the properties you want to finance. That includes their fair market value, any renovation plans and the figures on the rental or lease income they’ll generate.

How to find a blanket mortgage lender

Blanket mortgage lenders are not as commonplace as those that offer other types of home loans.

“Blanket mortgages do not have blanket availability,” says McBride. “You’ll have to do some digging to find lenders and mortgage brokers that work with borrowers on this type of loan.”

Article sources

We use primary sources to support our work. Bankrate’s authors, reporters and editors are subject-matter experts who thoroughly fact-check editorial content to ensure the information you’re reading is accurate, timely and relevant.

“ Blanket Loans ” CoreVest American Finance Lender LLC. Accessed on Jan. 12, 2024.

“ Blanket Mortgage Loans For Multiple Properties ” Cleveland Mortgage Corporation. Accessed on Jan. 12, 2024.

“ Blanket Loans ” Kram Capital Group, LLC. Accessed on Jan. 12, 2024.

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Blanket Lien: What it is, How it Works, Regulation

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University.

Investopedia / Lara Antal

What Is a Blanket Lien?

A blanket lien is a lien that gives the right to seize, in the event of nonpayment, all types of assets serving as collateral owned by a debtor. A blanket lien, theoretically, gives a creditor a legal interest in all of the debtor's assets serving as collateral.

Blanket liens provide maximum protection to lenders, but minimum protection to borrowers. Borrowers can potentially lose all of their pledged assets if they default on debt subject to a blanket lien.

Key Takeaways

• A blanket lien gives the right to a lender to seize all pledged assets owned by a debtor in the event of a default.
• Blanket liens provide maximum protection to lenders but minimum protection to borrowers.
• The Uniform Commercial Code (UCC) regulates blanket liens, particularly through UCC Article 9.
• UCC-1, under the UCC, is a public statement that declares a lender's right to seize a borrower's assets if they default. It stipulates what assets can be seized and in what order.
• When related to taxes, the Internal Revenue Service (IRS) has a blanket lien on all assets of an individual or business for unpaid taxes.

Understanding a Blanket Lien

Borrowing money and therefore taking on debt can be a good strategy for a business or individual, if managed correctly, and if it is the right type of debt. Financing can allow for a business to grow and expand where otherwise it might be difficult to do so. It can also improve a business's cash flow by providing the ability to pay down high-interest debt.

When providing a loan , a bank or lending institution may require collateral. Collateral reduces the risk to the lender in the event that the borrower can no longer meet their debt obligations. In this case, the lender can legally seize the asset pledged as collateral, sell it, and use the proceeds to pay off the debt.

Collateral is often required for risky borrowers with poor creditworthiness but can also be used for loans related to risky projects. Oftentimes posting collateral reduces the interest charged on a loan, and therefore may be in the interest of a borrower to pledge collateral.

When a borrower is particularly risky, a lender may require a blanket lien, where more than one asset is pledged as collateral, increasing the comfort for a lender and the ability to pay down the debt in case of nonpayment.

Regulation of Blanket Liens

The Uniform Commercial Code (UCC) regulates the concept of liens for businesses. In particular, UCC Article 9 provides definitions and key language with respect to the application and treatment of liens.

Though UCC Article 9 does a descriptive job over defining what constitutes as collateral under liens, there are still many disputes over ownership rights when it comes to debt and the related asset as a security interest.

Both the creditor and borrower have no interest in spending time and money in court arguing over what is and what is not collateral in any default . This is the reason that attorneys recommend that lien agreements contain as many specific details as possible on assets that are to be collateralized.

UCC Article 9 serves as a guide for the drafting of lien language, but to avoid confusion between parties and to provide clear details, creditors also file a UCC-1 statement. The UCC-1 statement publicly declares a creditor's right to seize a borrower's assets if the borrower defaults. A UCC-1 is required for all business loans.

The UCC-1 statement will specifically list what assets are allowed to be seized and in what order. It can also prioritize which lenders are allowed to seize assets first in case there are multiple lenders on the loan. The UCC-1 statement must be filed with local agencies in the state where the business of the borrower is located.

While it may not always be clear-cut as to how blanket liens are defined in the private sector , there is no question that the Internal Revenue Service (IRS) reserves the right to apply an "all assets" lien when individuals do not pay their taxes. A federal tax lien applies to all of the assets of an individual, such as property, securities, and vehicles, as well as to future assets that were obtained while the lien was in effect.

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blanket statement

Meanings of blanket and statement.

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(Definition of blanket and statement from the Cambridge English Dictionary © Cambridge University Press)

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Definition of blanket noun from the Oxford Advanced Learner's Dictionary

Introduction

A blanket statement is a phrase or opinion that is overly broad, sweeping, and often untrue. It is used to make a generalization about a group of people or a concept without considering individual characteristics or circumstances. The purpose of this article is to explain the definition of a blanket statement, analyze its impact, discuss how to avoid making one, investigate the reasons behind them, compare them to other types of generalizations, and offer tips for responding to them.

Explaining the Definition of a Blanket Statement

At its core, a blanket statement is an oversimplified opinion or conclusion that is applied to a group of people or a concept without taking into account individual differences or circumstances. For example, saying “all teenagers are irresponsible” is a blanket statement because it does not consider the individual traits and behaviors of each person in the group.

Examples of common blanket statements include: “all politicians are corrupt”, “all men are chauvinistic”, and “all women are emotional”. These statements are usually based on false stereotypes and can be damaging to relationships because they ignore individual experiences and differences.

Analyzing the Impact of Blanket Statements

Blanket statements can have a negative impact on communication and relationships. They can be hurtful and offensive, creating feelings of alienation or anger in the person being generalized. They can also be damaging to relationships by making the speaker appear judgemental or closed-minded.

In addition, blanket statements can lead to misunderstandings and miscommunication. When someone makes a sweeping statement without considering individual characteristics or circumstances, they may not be accurately representing the situation. This can lead to confusion and frustration as the conversation progresses.

Discussing How to Avoid Making Blanket Statements

The best way to avoid making blanket statements is to identify and challenge your own assumptions. Before you make a statement, take a moment to consider if it is true for every single person or situation in the group. If not, then it is likely a blanket statement and should be avoided.

It is also important to listen carefully to others before speaking. This will help you to understand the individual perspectives of the people you are talking to and ensure that any statements you make are accurate and specific.

Investigating the Reasons Behind Blanket Statements

There are several potential reasons why someone might make a blanket statement. One reason is unconscious bias, which is when we make assumptions about a group of people without realizing it. Unconscious bias can lead us to make sweeping generalizations without considering individual differences.

Another reason is fear of conflict. People sometimes make blanket statements in an attempt to avoid disagreement or difficult conversations. By making a statement that applies to everyone, they can avoid having to defend their opinion or engage in a debate.

Comparing Blanket Statements to Other Types of Generalizations

It is important to note that there is a difference between blanket statements and other types of generalizations. While blanket statements are overly broad and often untrue, other types of generalizations can be more accurate and useful. For example, saying “most teenagers are responsible” is not a blanket statement because it acknowledges individual differences while still making a valid point.

The implications of this difference are significant. Blanket statements can be damaging to relationships and communication, while other types of generalizations can actually be helpful in understanding and relating to others.

Offering Tips for Responding to Blanket Statements

If someone makes a blanket statement, it is important to respond in a constructive way. One tip is to consider the source. Ask yourself if the person making the statement is someone who tends to make sweeping generalizations, or if they are usually thoughtful and considerate in their speech. This can help you decide how to best respond to the statement.

Another tip is to ask questions. Instead of getting angry or arguing with the person, try asking them to clarify their statement. This can help you better understand where they are coming from and allow you to address any misconceptions they may have.

Finally, try making suggestions instead of attacking the person’s opinion. Offer specific examples or ideas that can help to illustrate your point of view in a constructive way.

In conclusion, a blanket statement is an overly broad and often untrue opinion or conclusion that is applied to a group of people or a concept without taking into account individual differences or circumstances. They can have a negative impact on communication and relationships, and it is important to be aware of the reasons behind them in order to avoid making them. There is a difference between blanket statements and other types of generalizations, and it is important to consider the source and ask questions when responding to them. By understanding the definition and implications of blanket statements, we can work towards more effective communication and healthier relationships.

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blanket noun & adjective

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What does the word blanket mean?

There are 16 meanings listed in OED's entry for the word blanket , two of which are labelled obsolete, and three of which are considered offensive and derogatory. See ‘Meaning & use’ for definitions, usage, and quotation evidence.

blanket has developed meanings and uses in subjects including

How common is the word blanket ?

How is the word blanket pronounced?

British english, u.s. english, where does the word blanket come from.

Earliest known use

Middle English

The earliest known use of the word blanket is in the Middle English period (1150—1500).

OED's earliest evidence for blanket is from around 1300, in Life & Martyrdom of Thomas Becket .

blanket is a borrowing from French.

Etymons: French blanket .

Nearby entries

• blandness, n. 1846–
• blank, n. 1480–
• blank, adj. & adv. c1325–
• blank, v. 1484–
• blank book, n. 1713–
• blank call, n. 1957–
• blank canvas, n. 1848–
• blank-cartridge, n. 1826–
• blank charter, n. 1398–
• blanked, adj. 1611–
• blanket, n. & adj. c1300–
• blanket, v. 1601–
• blanket bath, n. 1846–
• blanket bog, n. 1937–
• blanket bond, n. 1887–
• blanket capot, n. 1804–
• blanket capote, n. 1820–
• blanket coat, n. 1698–
• blanket cylinder, n. 1852–
• blanketed, adj. a1739–
• blanketeer, n. a1739–

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Meaning & use

Pronunciation, compounds & derived words, entry history for blanket, n. & adj..

blanket, n. & adj. was revised in September 2022.

blanket, n. & adj. was last modified in December 2023.

oed.com is a living text, updated every three months. Modifications may include:

• further revisions to definitions, pronunciation, etymology, headwords, variant spellings, quotations, and dates;
• new senses, phrases, and quotations.

Revisions and additions of this kind were last incorporated into blanket, n. & adj. in December 2023.

Earlier versions of this entry were published in:

OED First Edition (1887)

• Find out more

OED Second Edition (1989)

• View blanket, n. in OED Second Edition

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Definition of assignment

task , duty , job , chore , stint , assignment mean a piece of work to be done.

task implies work imposed by a person in authority or an employer or by circumstance.

duty implies an obligation to perform or responsibility for performance.

job applies to a piece of work voluntarily performed; it may sometimes suggest difficulty or importance.

chore implies a minor routine activity necessary for maintaining a household or farm.

stint implies a carefully allotted or measured quantity of assigned work or service.

assignment implies a definite limited task assigned by one in authority.

Examples of assignment in a Sentence

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'assignment.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

see assign entry 1

14th century, in the meaning defined at sense 1

Phrases Containing assignment

• self - assignment

Dictionary Entries Near assignment

Cite this entry.

“Assignment.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/assignment. Accessed 28 Aug. 2024.

Legal Definition

Legal definition of assignment, more from merriam-webster on assignment.

Nglish: Translation of assignment for Spanish Speakers

Britannica English: Translation of assignment for Arabic Speakers

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| | | | | | | My Wordlists Legacy activities       Wordsmyth     Standard   Lookup History a thick, rectangular piece of woven material used on a bed for warmth or worn as a garment. : a thick, rectangular piece of woven material used on a bed for warmth or worn as a garment.', '', '');"> : a thick, rectangular piece of woven material used on a bed for warmth or worn as a garment.', '', '');"> : a thick, rectangular piece of woven material used on a bed for warmth or worn as a garment.', '', '');"> , , , , , , , , a layer of something, such as snow, clouds, or flowers, that covers a thing or area. , , , , , , , , , , , , , Subscriber feature   blankets, blanketing, blanketed to cover, as with a blanket. , , , , , , , , , , , , Subscriber feature   applying to or including all members of a group or class. , , , , applying to all instances or situations. See   Subscribe for ad-free Wordsmyth and more 125 IMAGES Blanket Blanket Meaning And Pronunciation Life of a BLANKET My Own Blanket Lesson Plan for Kindergarten What Is a Blanket Statement? Exploring the Impact and How to Avoid Design 101: What's The Difference Between Bed Blankets, Bedspreads, and COMMENTS Blanket Assignment Definition Define Blanket Assignment. means an assignment agreement in the form of Exhibit I, or in such other form required by Bank, executed and acknowledged by Seller and Bank, which evidences, among other things, the sale, transfer, assignment and conveyance by Seller to Bank of any and all Participation Interests in the Participated Mortgage Loans and the Mortgage Loan Documents related thereto now ... Blanket Transfer Definition A Blanket Transfer, Assignment and Assumption, substantially in the form attached hereto as Exhibit E (the "Blanket Assignment"), assigning Seller's interest in the Permits, Plans and Warranties for the Property to Purchaser. Assignor has executed this Xxxx of Sale, Blanket Transfer and Assignment Agreement this ___ day of August, 2009. Blanket Contracts Blanket contracts, also called blanket orders, standing orders, open orders, or blanket purchase orders (BPOs), represent an agreement between a buyer and seller to purchase goods or services from a specific vendor. Usually developed by a business' purchasing department, blanket contracts are different from regular purchase orders in that they ... Authorized Use of Intervening and Blanket Assignments Blanket Assignments. Lenders may use blanket assignments for any intervening assignments that take place before the mortgage is sold to Fannie Mae, as long as this type of assignment is acceptable to the applicable recording jurisdiction (blanket assignments are assignments that cover more than one mortgage). Each blanket assignment must relate ... Blanket Mortgage: Meaning, Overview, Advantages and Disadvantages Blanket Mortgage: A mortgage which covers two or more pieces of real estate . The real estate is held as collateral on the mortgage, but the individual pieces of the real estate may be sold ... Blanket mortgage: How it works and who should use it A blanket mortgage, also referred to as a blanket loan, is a mortgage that covers multiple properties, with the group of assets collectively serving as collateral. Real estate developers and ... Blanket Lien: What it is, How it Works, Regulation Blanket Lien: A lien that gives the right to seize, in the event of nonpayment, nearly all types of assets and collateral owned by a debtor in order to satisfy the debt. A blanket lien gives a ... Commercial Leases: Assignment vs. Sublet Assignment of a lease refers to when one party of the lease transfers all the interest and obligations of the lease to a third party. Typically in commercial settings, a commercial tenant will assign their interest in the lease to another commercial tenant. Additionally, a landlord may also assign their interest in the lease to another landlord. What is a blanket assignment? Global assignment means that a company assigns all its receivables to a factoring company, in this case RHD Rechnungsstelle AG, and is exclusively bound to this factor, which means that as long as you carry out and invoice vehicle transfers via ONLOGIST, you may not conclude a contract with another factoring company. Blanket Assignment and Xxxx of Sale Definition Define Blanket Assignment and Xxxx of Sale. means the written blanket assignment from Seller to Buyer in the form attached hereto as Exhibit B. Browse Resources Closing Flashcards Study with Quizlet and memorize flashcards containing terms like Define: Blanket Conveyance, bill of sale and assignment, Would a car with a title be included in a blanket conveyance?, 3 Methods of Conveying property and more. CONTRACT to SOFTWARE INFORMATION RESOURCE CORP. Blanket Purchase Agreement (BPA) Call. PIID. 1331L524F13OS0531. Not Started. Unlinked Award. Awarding Agency Department of Commerce (DOC) Recipient SOFTWARE INFORMATION RESOURCE CORP. 730 24TH ST NW STE 3. APT 3. WASHINGTON, DC 20037-2500. UNITED STATES. Congressional District: DC-98 ... blanket assignment blanket assignment in English dictionary. Despite the variance in food energy content of sugar alcohols, EU labeling requirements assign a blanket value of 2.4 kcal/g to all sugar alcohols. The duty assigned me was, to take charge of the blankets and provisions, and see that none were lost by the way. No region has been able to implement the ... BLANKET STATEMENT collocation Examples of BLANKET STATEMENT in a sentence, how to use it. 18 examples: I am not qualified to make a blanket statement to the effect that there is a danger, but the matter… Blanket Agreement Definition Examples of Blanket Agreement in a sentence. Terms with a capital initial letter have the meaning as defined under the General General Terms of the Blanket Agreement on Issuing and Using the Diners Club Card Issued by Erste Card Club d.o.o. (hereinafter: "the General Terms"), unless otherwise specified in these Special Terms.. If the violation is not rectified within the given deadline ... Examples of 'Blanket' in a Sentence noun. Definition of blanket. Synonyms for blanket. It's going to get cold tonight so you may need extra blankets. Workers wrapped the owl in a blanket and took it to City Wildlife. —. Sarah Kuta, Smithsonian Magazine , 1 Nov. 2023. Bring your blanket or low camp chair to enjoy the show. —. blanket noun Definition of blanket noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. What Is a Blanket Statement? Exploring the Impact and How to Avoid Explaining the Definition of a Blanket Statement. At its core, a blanket statement is an oversimplified opinion or conclusion that is applied to a group of people or a concept without taking into account individual differences or circumstances. For example, saying "all teenagers are irresponsible" is a blanket statement because it does not ... blanket, n. & adj. meanings, etymology and more What does the word blanket mean? There are 16 meanings listed in OED's entry for the word blanket, two of which are labelled obsolete, and three of which are considered offensive and derogatory. See 'Meaning & use' for definitions, usage, and quotation evidence. blanket has developed meanings and uses in subjects including. Blanket Easement Agreement Definition Related to Blanket Easement Agreement. Easement Agreement means any conditions, covenants and restrictions, easements, declarations, licenses and other agreements which are Permitted Encumbrances and such other agreements as may be granted in accordance with Section 19.1.. Consent Agreement shall have the meaning set forth in Section 14.2.. Concession Agreement means the Concession Agreement ... Assignment Definition & Meaning The meaning of ASSIGNMENT is the act of assigning something. How to use assignment in a sentence. Synonym Discussion of Assignment. blanket definition 1: a thick, rectangular piece of woven material used on a bed for warmth or worn as a garment. You should be warm enough with two wool blankets on your bed. similar words: afghan, bedclothes, bedcovering, bedding, bedspread, clothing, comforter, coverlet, quilt. definition 2: a layer of something, such as snow, clouds, or flowers ... assignment essay homework paper phd report resume review speech thesis