FNMA Security definition

FNMA Security. An ownership interest in a pool of FNMA Mortgage Loans, evidenced by a book-entry credit made by a Securities Intermediary that is a participant of the Federal Reserve Bank of New York, in substantially the principal amount and with substantially the other terms as specified with respect to such FNMA Security in the related Takeout Commitment, if any.
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FNMA 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 principal and interest by FNMA.
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FNMA Security shall refer to a Guaranteed Mortgage PassThrough Certificate issued and guaranteed by FNMA and backed by a pool of Mortgage Loans.
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Examples of FNMA 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 Purchaser 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.


More Definitions of FNMA Security

FNMA Security means a security secured by a Mortgage Pool issued by the Designated Servicer in certificated or in book-entry form, guaranteed as to timely payment of principal and interest by FNMA, for purchase by the Trustee.
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FNMA Security a Mortgage-backed Security guaranteed by FNMA.
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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.
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FNMA Security means an obligation, participation, or any instrument of or issued by, or fully guaranteed as to principal and interest by, the Federal National Mortgage Association.
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FNMA Security means a single pool, guaranteed mortgage pass-through FNMA Mortgage- Backed Security, bearing interest at the Pass-Through Rate, issued by FNMA in book-entry form, recorded in the name of the Trustee or its nominee, guaranteed as to timely payment of principal and interest by FNMA and backed by Mortgage Loans in the related mortgage pool.
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Related to FNMA Security

  • 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.

  • 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).

  • 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;

  • Data Security Requirements means, collectively, all of the following to the extent relating to Data Treatment or otherwise relating to privacy, security or security breach notification requirements and applicable to Seller, any IT Systems or any Personal Information: (i) Seller’s own rules, policies, and procedures; (ii) all Laws applicable to Seller; (iii) industry standards applicable to the industry in which Seller operates; and (iv) Contracts to which Seller is a party or otherwise subject.

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