FHLMC Security definition

FHLMC Security. A modified pass-through mortgage-backed participation certificate, evidenced by a book-entry credit made by a Securities Intermediary that is a participant of the Federal Reserve Bank of New York, issued and guaranteed, with respect to timely payment of interest and ultimate payment of principal, by FHLMC and backed by a pool of FHLMC Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such FHLMC Security in the related Takeout Commitment, if any.
Sample 1Sample 2Sample 3
FHLMC Security means a security representing an undivided fractional interest in a pool of Mortgage Loans, which security is issued and guaranteed as to full and timely payment of interest and full collection of principal by FHLMC.
Sample 1Sample 2Sample 3
FHLMC Security means obliga- tions or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pur- suant to section 305 or 306 of the Fed- eral Home Loan Mortgage Corporation Act (12 U.S.C. 1454 and 1455).
Sample 1Sample 2Sample 3

Examples of FHLMC Security in a sentence

  • Sellers, subject to the terms hereof, will cause (a) Mortgage Loans evidenced by a Participation Certificate to back a GNMA Security issued by Sellers and guaranteed by GNMA, a FNMA Security issued and guaranteed by FNMA or a FHLMC Security issued and guaranteed by FHLMC and (b) Delivery of such GNMA Security, FNMA Security or FHLMC Security by GNMA, FNMA or FHLMC to Participant or its designee, which GNMA Security, FNMA Security or FHLMC Security will be purchased by a Takeout Investor.

  • Seller, subject to the terms hereof, will cause (a) Mortgage Loans evidenced by a Participation Certificate to back a GNMA Security issued by Seller and guaranteed by GNMA, a FNMA Security issued and guaranteed by FNMA or a FHLMC Security issued and guaranteed by FHLMC and (b) Delivery of such GNMA Security, FNMA Security or FHLMC Security by GNMA, FNMA or FHLMC to Participant or its designee, which GNMA Security, FNMA Security or FHLMC Security will be purchased by a Takeout Investor.

  • Seller, subject to the terms hereof, will cause (a) Mortgage Loans evidenced by a Participation Certificate to back a GNMA Security issued by Seller and guaranteed by GNMA, a FNMA Security issued and guaranteed by FNMA or a FHLMC Security issued and guaranteed by FHLMC and (b) Delivery of such GNMA Security, FNMA Security or FHLMC Security by GNMA, FNMA or FHLMC to Purchaser or its designee, which GNMA Security, FNMA Security or FHLMC Security will be purchased by a Takeout Investor.

  • With respect to any FHLMC Participation Certificate or any FHLMC Security, amortgage loan that is in Strict Compliance with the eligibility requirements specified for the applicable FHLMC Program described in the FHLMC Guide.

  • A GNMA Security, a FNMA Security or a FHLMC Security, as applicable.


More Definitions of FHLMC Security

FHLMC Security shall refer to a Mortgage Participation Certificate issued and guaranteed by FHLMC and backed by a pool of Mortgage Loans.
Sample 1Sample 2
FHLMC Security means obligations or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or 306 of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1454 and 1455).
Sample 1Sample 2
FHLMC Security a Mortgage-backed Security guaranteed by FHLMC.
Sample 1
FHLMC Security means a security issued or guaranteed by the Federal Home Loan Mortgage Corporation; (xiv) "FNMA and FHLMC Regulations" means the Secretary of HUD's Regulation of the Federal National Mortgage Association (Xxxxxx Xxx) and the Federal Home Loan Mortgage Corporation (Xxxxxxx Xxx): Book-Entry Procedures, as set forth in 61 Fed. Reg. 63944 (Dec. 2, 1996), codified at 24 C.F.R. Part 81, as amended; (xv) "FNMA Security" means a security issued or guaranteed by the Federal National Mortgage Association; (xvi) "GNMA Security" means a security issued or guaranteed by the Government National Mortgage Association; (xvii) "Instrument" means an "instrument" (as defined in Section 9-105(1)(i) of the New York UCC); (xviii) "New York Fed" means the Federal Reserve Bank of New York; (xix) "New York UCC" means the Uniform Commercial Code as in effect on the date hereof in the State of New York; (xx) "Participant" means a Person (as defined in the Treasury Regulations) that maintains a Participant's Securities Account with the New York Fed; (xxi) "Participant's Securities Account" means an account in the name of a Participant of the New York Fed to which Book-Entry Securities held for a Participant are or may be credited; (xxii) "Secured Obligations" means the obligations of the Trust under the Indenture; (xxiii) "Securities Account" means the account established by the Custodian in connection with the transactions contemplated by the Indenture; (xxiv) "Securities Account Property" means Custodial Securities credited to the Securities Account; (xxv) "Securities Intermediary" means a person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity, and includes a "clearing corporation" (as defined in Section 8-102(a)(5) of the New York UCC); (xxvi) "Security Entitlement" means the rights and property interest of an Entitlement Holder with respect to (A) a financial asset specified in Part 5 of Article 8 of the New York UCC or (B) a Book-Entry Security specified in the Treasury Regulations; (xxvii) "Treasury Regulations" means the Regulations of the Department of the Treasury Governing Book-Entry Treasury Bonds, Notes and Bills, as set forth in 61 Fed. Reg. 43626 (Aug. 23, 1996), codified at 31 C.F.R. Part 357, as amended; and (xxviii) "Treasury Security" means a security issued or guaranteed by the U.S. Department of the Treasury.
Sample 1
FHLMC Security a Mortgage Participation Certificate issued and guaranteed by FHLMC and backed by a pool of Mortgage Loans;
Sample 1

Related to FHLMC Security

  • Synthetic Security A security or swap transaction, other than a Participation Interest, that has payments associated with either payments of interest on and/or principal of a reference obligation or the credit performance of a reference obligation.

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph .32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Covered Security means a security as defined in Section 2(a)(36) of the Act, which includes: any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, pre-organization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security,” or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • Indexed Security means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

  • of a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time.

  • Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;

  • Relevant Security means the Stock, any other equity security of the Company or any of its subsidiaries and any security convertible into, or exercisable or exchangeable for, any Stock or other such equity security.

  • Loaned Security means any “security” which is delivered as a Loan under a Securities Loan Agreement; provided that, if any new or different security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation, or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange was made.

  • Security means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect.

  • Mortgage-related security means an obligation that is rated AA or higher (or the equivalent) by a securities rating agency recognized by the Securities Valuation Office of the NAIC and that either:

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Cyber Security means the condition in which road vehicles and their functions are protected from cyber threats to electrical or electronic components.

  • Similar Security means a reference bond or reference bonds issued by the same issuer as the Reference Security having an actual or interpolated maturity comparable with the remaining term of the Notes that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • Permitted Security means any Security:

  • System Security means the secure state of the Grid achieved when the System Operator acts in accordance with its principal performance obligations in relation to common quality and dispatch that are set out in Part 7 of the Code;

  • Related Security means, with respect to any Receivable:

  • Agency Security means a mortgage-backed security issued by an Agency.

  • Proposal Security means the proposal bond as described in Section 3.3 of Exhibit B to the ITP.

  • Data Security Requirements means, collectively, all of the following to the extent relating to Data Treatment, to any privacy, security, or security breach notification requirements applicable to the Company or any Retained Subsidiary, to the conduct of the Management and Franchise Business, or to any System: (i) PCI-DSS, (ii) the Company’s and the Retained Subsidiaries’ own rules and policies and (iii) applicable Law.

  • Russian Security means a Security issued by a Russian issuer.

  • Federal covered security means a security that is, or upon completion of a transaction will be, a covered security under Section 18(b) of the Securities Act of 1933 (15 U.S.C. Section 77r(b)) or rules or regulations adopted pursuant to that provision.