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Mortgage backed securities

• The pass-throughs issued by Ginnie Mae are referred to as Mortgage Backed Securities.

• Securities backed by a pool of mortgage loans.

• Is a broad term which encompasses both generic and pool specific securities predicated on real property. The term also refers to private label or agency securities, pass-throughs, or derivatives such as Collateralized Mortgage Obligations. It can refer to the Over the-Counter options on mortgage backed securities as well. These mortgage backed securities are viewed as either plain vanilla or exotic. Some of the more common issues are:

  • Accrual or Accretion Bond,
  • ARMs,
  • Companion or Support,
  • Constant Maturity Treasury (CMT),
  • Floaters,
  • Gnomes,
  • Gold,
  • Inverse Floaters or Reverse Floaters,
  • IO or Interest Only,
  • IO-ette or IOette,
  • Jump Bonds,
  • Jump Z,
  • Mega,
  • PAC PO,
  • Pass Throughs,
  • Planned Amortization Class,
  • PO or Principal Only,
  • Reverse TAC,
  • Scheduled Bonds,
  • Stripped Mortgage Backed Securities,
  • Super Floater,
  • Super PAC,
  • Super PO,
  • Support,
  • Targeted Amortization Class,
  • VADM
  • Z Bond, and
  • Z PAC.
There are other types and the list is growing because of the unique nature of these instruments.

 
 

Follow this link for all the terms related to mortgagesecurities.

 
 Embedded terms in definition
 Agency
Amortization
Bond
Class
Collateralized mortgage obligations
Collateralized mortgage obligation
Constant maturity
Derivatives
Floater
Generic
Ginnie mae
Instruments
Interest only
Interest
Inverse floater
Jump bond
Maturity
Mortgage
Options
Pass throughs
Pass through
Plain vanilla
Planned amortization class
Pool
Principal only
Principal
Reverse floater
Reverse tac
Reverse
Scheduled bonds
Securities
Stripped mortgage backed securities
Super floater
Super pac
Super po
Support
Targeted amortization class
Z bond
 
 Related Terms
 
Adjustable rate mortgage
Alternative mortgage instruments
Asset backed securities
Asset backed security
Assumable mortgage
Assumption of mortgage
Book entry securities
Closed end mortgage
Collateralized mortgage obligation
Collateralized mortgage obligations
Contingent securities
Conventional mortgage
Convertible securities hedge funds
Debt securities
Discount securities
Distressed securities
Exempt securities
Federal agency securities
Federal home loan mortgage corporation
Federal national mortgage association
General securities registered representative license
Gmcs guaranteed mortgage certificates
Government national mortgage association gnma or ginnie mae
Government securities
Graduated payment mortgage
Manufactured housing securities
Market premium convertible securities
Marketable securities
Mortgage
Mortgage backed securities clearing corporation
Mortgage backed securities hedge funds
Mortgage bond
Mortgage duration
Mortgage pass through securities
Mortgage pass through security
Mortgage pipeline
Mortgage pipeline risk
Mortgage rate
Mortgage tax
National association of securities dealers automated quotation system
National association of securities dealers, inc.
Open end mortgage
Organized securities exchanges
Pass through securities
Project loan securities
Public securities administration
Real estate mortgage investment conduit
Registered general securities person
Registered securities principal
Remic real estate mortgage investment conduit
Reverse mortgage
Securities
Securities act of 1933
Securities analysts
Securities and exchange commission
Securities and exchange commission sec
Securities exchange act of 1934
Securities exchanges
Securities investor protection corporation
Securities registration
Strip mortgage participation certificate strip pc
Stripped mortgage backed securities
Stripped mortgage backed securities smbss
Treasury securities
Wholesale mortgage banking

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