fnma
81Agency Security — Low risk debt obligations that are issued by U.S. government sponsored entities (GSEs) and other federally related bodies. Agency securities are issued by GSEs, including the Federal National Mortgage Association (FNMA), Federal Home Loan Bank… …
82Lehman Brothers Mortgage-Backed Securities Index — An index made up of mortgage backed securities that is used for benchmarking purposes. The Lehman Brothers MBS Index consists of fixed rate securities, such as mortgage pools created by the Government National Mortgage Association (GNMA), Federal …
83Pool Factor — The percentage of the original principal that is left to be distributed in a mortgage backed security, as represented by a numerical factor that will be attached on periodic market quotes and other presentations of the MBS’s price.… …
84Tandem Plan — A mortgage purchase program subsidized by the U.S. government. Tandem loans provide monetary assistance to builders and developers of non profit public housing. Under the Tandem Plan, the Government National Mortgage Association (GNMA / Ginnie… …
85Mortgage-Backed Securities Clearing Corporation — A wholly owned subsidiary of the Midwest Stock Exchange that operates a clearing service for the comparison, netting, and margining of agency guaranteed MBSs transacted for forward delivery. The New York Times Financial Glossary ( MBSCC) Founded… …
86dwarfs — Fifteen year FNMA MBS pools. American Banker Glossary Fannie Mae issued mortgage backed securities pools that have an original maturity of 15 years. Bloomberg Financial Dictionary …
87private label pool — private pool, private label pool Mortgage backed securities not issued by or guaranteed by a U.S government agency or U.S. government sponsored enterprise. The mortgage loans comprising private pools are generally loans that do not meet GNMA,… …
88private pool — private pool, private label pool Mortgage backed securities not issued by or guaranteed by a U.S government agency or U.S. government sponsored enterprise. The mortgage loans comprising private pools are generally loans that do not meet GNMA,… …
89seasoned loans — Loans for which a year or more has passed since periodic payments began. GNMA requires that mortgages within a given pool be originated within two years of the issue date. FNMA and FHLMC pools may contain older mortgages called seasoned loans.… …
90WAC — weighted average coupon (WAC) The average interest rate charged to mortgage loan borrowers in an MBS pool weighted by the size of each loan. Individual loans in an MBS pool will not usually have the same rates of interest. For example, FNMA pools …
