mortgage- backed security
61United States Treasury security — A United States Treasury security is government debt issued by the United States Department of the Treasury through the Bureau of the Public Debt. Treasury securities are the debt financing instruments of the United States federal government, and …
62Primary Mortgage Market — The market where borrowers and mortgage originators come together to negotiate terms and effectuate mortgage transaction. Mortgage brokers, mortgage bankers, credit unions and banks are all part of the primary mortgage market. After being… …
63Relocation Mortgage - Relo — A type of mortgage that is designed for relocating/transferring employees. Corporations sometime make special mortgages available for relocating employees in an effort to make the moving process easier and more economical. Oftentimes, there are… …
64seasoned security — seasoned issue or seasoned security A mortgage backed security with underlying mortgages that are seasoned loans. Sometimes described as vintage securities especially in the case of CMOs. American Banker Glossary …
65Collateralized Mortgage Obligation - CMO — A type of mortgage backed security that creates separate pools of pass through rates for different classes of bondholders with varying maturities, called tranches. The repayments from the pool of pass through securities are used to retire the… …
66Security interest — A security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt.[1] It gives the beneficiary of the security interest certain… …
67mortgage — /mawr gij/, n., v., mortgaged, mortgaging. n. 1. a conveyance of an interest in property as security for the repayment of money borrowed. 2. the deed by which such a transaction is effected. 3. the rights conferred by it, or the state of the… …
68Mortgage Participation Certificate — A type of security that groups together Freddie Mac conventional mortgages. These certificates are guaranteed by Freddie Mac and are taxable by federal, state and the local government. These certificates are also referred to as pass through… …
69Government National Mortgage Association — The Government National Mortgage Association (GNMA, also known as Ginnie Mae) is a U.S. government owned corporation within the Department of Housing and Urban Development (HUD).Ginnie Mae provides guarantees on mortgage backed securities (MBS)… …
70Real Estate Mortgage Investment Conduit — Real Estate Mortgage Investment Conduits, or REMICs, are a type of special purpose vehicle used for the pooling of mortgage loans and issuance of mortgage backed securities. They are defined under the United States Internal Revenue Code (Tax… …
