mortgage backed security
A security (esp. a pass-through security) backed by mortgages. See stripped mortgage-backed security. [Cases: Securities Regulation 5.13. C.J.S. Securities Regulation § 23.]
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Search Results for: pass-through security
pass through security
A security that passes through payments from debtors to investors. • Pass-through securities are usu. assembled and sold in packages to investors by private lenders who deduct a service fee before passing the principal and interest payments through to the investors.
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collateralized mortgage obligation
collateralized mortgage obligation. Securities. A bond secured by a group of mortgage obligations or pass-through securities and paid according to the payment schedule of its class (or tranche). • CMOs are issued by the Federal Home Loan Mortgage Corporation, and benefit from predictable payments of interest and principal. — Abbr. CMO. See pass-through security under
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