Mortgage-Backed Security Sample Clauses
A Mortgage-Backed Security (MBS) clause defines the terms under which a pool of mortgage loans is packaged and sold as a security to investors. This clause typically outlines the rights and obligations of the parties involved, the types of mortgages included, and the mechanisms for payment of principal and interest to security holders. By establishing clear rules for the creation and management of these securities, the clause ensures transparency and allocates risk among participants, facilitating the efficient transfer of mortgage-related assets in the financial markets.
Mortgage-Backed Security. As to any Trust, each underlying mortgage-backed security specified in the related Issue Supplement, including any mortgage-backed securities issued and guaranteed by ▇▇▇▇▇▇▇ Mac or guaranteed by ▇▇▇▇▇▇ ▇▇▇.
Mortgage-Backed Security. Any fully-modified pass-through mortgage-backed security that is (i) either issued by Seller and fully guaranteed by ▇▇▇▇▇▇ Mae or issued and fully guaranteed with respect to timely payment of interest and ultimate payment of principal by ▇▇▇▇▇▇ ▇▇▇ or ▇▇▇▇▇▇▇ Mac; (ii) evidenced by a book-entry account in a depository institution having book-entry accounts at the applicable Depository; and (iii) backed by a Pool, in substantially the principal amount and with substantially the other terms as specified with respect to such Mortgage-Backed Security in the related Purchase Commitment.
Mortgage-Backed Security. The Group 4 MBS (or any mortgage-backed security that may be substituted for the Group 4 MBS pursuant to Section 2.06 of this Trust Agreement).