Gnomes
The 15-year pass-through securities offered under Freddie Mac's cash program. Investopedia Says:
Investors sell their mortgages through Freddie Mac's cash program. The 15-year mortgages sold to Freddie Mac form the pool of mortgages that back the securities referred to as gnomes. Related Terms:
Fannie Mae
Freddie Mac
Ginnie Mae
Mortgage Backed Securities - MBS
Pass-Through Security |