Freddie Mac Security definition

Freddie Mac Security means a modified pass-through mortgage-backed participation certificate, evidenced by a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York, issued and guaranteed, with respect to timely payment of interest and ultimate payment of principal, by Freddie Mac and backed by a pool of Freddie Mac Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such Freddie Mac Security in the related Takeout Commitment, if any.
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Freddie Mac Security means a Mortgage-Backed Security issued by Freddie Mac, registered or recorded in book-entry form in the name of the Trustee or its nominee, and representing an undivided interest in a Mortgage Pool, guaranteed as to timely payment of principal and interest by Freddie Mac.
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Freddie Mac Security means a single pool, guaranteed mortgage pass-through certificate, bearing interest at the applicable Pass-Through Rate, issued by Freddie Mac in book- entry form, recorded in the name of the Trustee or its nominee, guaranteed as to timely payment of principal and interest by Freddie Mac, and backed by Mortgage Loans in the related pool.
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Examples of Freddie Mac Security in a sentence

  • Freddie Mac Security payments are not guaranteed by, and are not debts or obligations of, the United States or any federal agency other than Freddie Mac.

  • When Freddie Mac notifies the Issuer that it is positioned to issue interest-only certificates (“Freddie Mac Security”), the Trustee, on behalf of the Bondholders, may request securitization of the Freddie Mac Remittances into a newly formed Freddie Mac Security for delivery to the Trustee pursuant to the terms of the Indenture.

  • Freddie Mac guarantees the interest payments on the Freddie Mac Security.

  • Once the Freddie Mac Security is issued and delivered to the Trustee, the Freddie Mac Remittances paid directly to the Issuer will cease.

  • If the Trustee does not receive payment or advice from the depositary of payment with respect to a Freddie Mac Security when due by the close of business on the fifteenth day of any month (or the next Business Day if the fifteenth day is not a Business Day), the Trustee shall demand payment from Freddie Mac in connection with the guaranty of timely payments of principal and interest by Freddie Mac on a Freddie Mac Security.

  • Mortgages meeting the then-current criteria set forth in the Government National Mortgage Association (GNMA) Guide, the Freddie Mac Guide or Fannie Mae Guide which are (1) eligible for inclusion in a GNMA Certificate insured by the FMA or guaranteed by VA or RD, as applicable, or (2) eligible for inclusion in a Fannie Mae Security or Freddie Mac Security and insured by a PMI insurer to the extent required by Fannie Mae or Freddie Mac, as applicable, are deemed approved by the Authority.

  • With respect to conventional loans, underwriting guidelines must meet Fannie Mae and Freddie Mac Security requirements and Florida Housing guidelines.


More Definitions of Freddie Mac Security

Freddie Mac Security means a mortgage participation certificate issued by Freddie Mac, ifany.
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Freddie Mac Security means a security which is issued by the Master Servicer and fully guaranteed as to principal and interest by the Federal Home Loan Mortgage Corporation, and backed by Mortgage Loans.
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Freddie Mac Security means a single pool, guaranteed mortgage pass-through Freddie Mac PC Security, issued by Freddie Mac in book-entry form, recorded in the name of the Trustee or its nominee, guaranteed as to timely payment of principal and interest by Freddie Mac and backed by Conventional Mortgage Loans in the related Mortgage Pool, with terms as specified in the Program Manual.
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Related to Freddie Mac Security

  • Freddie Mac Federal Home Loan Mortgage Corporation, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto.

  • FHLMC The Federal Home Loan Mortgage Corporation, or any successor thereto.

  • Ginnie Mae is hereby added to Article I to immediately follxx xxx xxxinition of "Freddie Mac":

  • 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;

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • GNMA The Government National Mortgage Association, or any successor thereto.

  • 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:

  • Registered mortgage loan originator means any individual who:

  • Eligible mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.

  • 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;

  • FHA means the Federal Housing Administration, an agency within the United States Department of Housing and Urban Development, or any successor thereto, and including the Federal Housing Commissioner and the Secretary of Housing and Urban Development where appropriate under the FHA Regulations.

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • FHA Approved Mortgagee means a corporation or institution approved as a mortgagee by the FHA under the National Housing Act, as amended from time to time, and applicable FHA Regulations, and eligible to own and service mortgage loans such as the FHA Loans.