Pass-Through Certificate
Fixed-income securities that represent an undivided interest in a pool of federally insured mortgages put together by the Government National Mortgage Association (Ginnie Mae). Investopedia Says:
Mortgage-backed certificates are the most common type of pass-through, where homeowners' payments pass from the original bank through a government agency or investment bank to investors. Related Terms:
Collateralized Mortgage Obligation - CMO
Commercial Mortgage Backed Securities - CMBS
Current Face
Fannie Mae - Federal National Mortgage Association - FNMA
Ginnie Mae - Government National Mortgage Association - GNMA
Mortgage
Mortgage Backed Security - MBS
Pass-Through Security |