GNMA Certificates definition

GNMA Certificates. The “fully modified pass-through” mortgage backed securities guaranteed as to timely payment of principal and interest by the Government National Mortgage Association included in the Lower Tier REMIC and identified in the Mortgage Security Schedule.
GNMA Certificates means single-class certificates representing fractional undivided interests in specified pools of fully amortizing (i.e., not balloon payment) Mortgage Loans secured by first liens on Residential Real Estate, such certificates being fully guaranteed as to principal and interest by GNMA and, as such, backed by the full faith and credit of the United States of America.
GNMA Certificates. Mortgage-backed securities that represent ownership interests in Mortgages and are guaranteed as to timely payment of principal and interest by GNMA. GNMA Certificates include

Examples of GNMA Certificates in a sentence

  • GNMA Certificates: Mortgage-backed securities that represent ownership interests in Mortgages and are guaranteed as to timely payment of principal and interest by GNMA.

  • A guaranteed investment and fee contract, executed by the Administrator and pursuant to which payments on the GNMA Certificates in a Trust Fund are invested with the Administrator from the date of receipt by such Trust Fund at a rate of return guaranteed by the Administrator, and investment proceeds are retained by the Administrator, to the extent provided in the GIFC, as a fee for its administration of such Trust Fund.

  • If so provided in the applicable Terms Supplement and pursuant to a GIFC described therein, the Administrator will deposit into the Custodial Account with respect to a REMIC Pool containing GNMA Certificates to which payments of principal and interest on such GNMA Certificates will be credited upon receipt, as well as any other amounts received by the Administrator.

  • GNMA Certificates consist of (i) certificates (“GNMA I Certificates”) guaranteed by GNMA under its GNMA I program, including “Platinum” certificates backed by such certificates, and (ii) certificates (“GNMA II Certificates”) guaranteed by GNMA under its GNMA II program, including “Platinum” certificates backed by such certificates.

  • A Xxxxxxx Mac Giant Certificate created pursuant to a Pass-Through Agreement, representing a beneficial ownership interest in a discrete pool consisting of GNMA Certificates and/or Giant Securities.


More Definitions of GNMA Certificates

GNMA Certificates means single-class fully modified pass-through certificates in book-entry form backed by single-family residential mortgage loans, the full and timely payment of principal and interest of which is guaranteed by the Government National Mortgage Association (excluding REMIC or other multi-class pass-through certificates, pass-through certificates backed by adjustable rate mortgages and securities paying interest or principal only).
GNMA Certificates means a fully modified pass-through certificate in physical or book-entry form, the full and timely payment of principal of and interest on which is guaranteed by GNMA and which evidences a proportional undivided interest in specified pools of fixed-, variable or adjustable-rate, fully amortizing mortgage loans secured by first-priority mortgages on single-family residences.
GNMA Certificates means fully modified pass-through mortgage-backed certificates guaranteed by GNMA and issued either in certificated or book-entry form.
GNMA Certificates means securities guaranteed by the Government National Mortgage Association including GNMA pass-through mortgage-backed securities.
GNMA Certificates means fully modified pass-through mortgage- backed certificates guaranteed by GNMA and issued either in certificated or book-entry form.
GNMA Certificates means mortgage loan pass-through certificates guaranteed as to timely payment of principal and interest by GNMA.
GNMA Certificates. As defined on page 2 hereof.