GNMA Securities definition

GNMA Securities. Shall have the meaning ascribed thereto in the definition ofAgency Security” herein.
GNMA Securities has the meaning specified in clause (e) of the definition ofCash Equivalents.”
GNMA Securities means a fully modified pass through security in the form of a Construction Loan Certificate (“CLC”) or a Project Loan Certificate (“PLC”) issued by an approved FHA lender and guaranteed by GNMA as to timely payment of principal of and interest on a PLC and as to timely payment of interest only until maturity and timely payment of principal at maturity on a CLC, pursuant to Section 306(g) of the National Housing Act of 1934, as amended, and the regulations promulgated thereunder.

Examples of GNMA Securities in a sentence

  • For purposes of determining the value of Cash Equivalents as of any date, the value of GNMA Securities that are included as Cash Equivalents on such date shall be 95% of the marked-to-market value of such GNMA Securities determined in accordance with GAAP as of the last day of the then most recently ended fiscal quarter of the REIT.

  • For any Payment Date for Multiclass GNMA Securities, the aggregate of the remaining principal balances to which the underlying Assets would be reduced in the month in which that Payment Date occurs, based on, in the case of GNMA Certificates, the related “factor” information selected by the Administrator or, to the extent such factors have not been reported for a GNMA Certificate, assumed Mortgage amortization schedules that the Administrator (or its agent) will create.

  • The guaranteed investment proceeds, to the extent not applied to interest and principal payments on the related Multiclass GNMA Securities and any related MACR Certificates, shall be retained by the Administrator in its corporate capacity as an administration fee pursuant to the GIFC.

  • In connection with the issuance of the Certificates, Xxxxxx Xxx has determined that distributions on the GNMA Securities will be sufficient to reduce the Class Certificate Principal Balance of each Class to zero on or before its Final Distribution Date without the necessity of any call on Xxxxxx Mae under its guaranty pursuant to Section 3.04.

  • The attached schedule is (i) Delivery Schedule Form 11705 in the case of GNMA Securities, (ii) Delivery Schedule Form 996 in the case of FHLMC Securities, (iii) Delivery Schedule Form 2014 in the case of FNMA Securities, or (iv) a form containing substantially similar information in the case of any other Securities.


More Definitions of GNMA Securities

GNMA Securities modified pass-through mortgage-backed certificates guaranteed by the Government National Mortgage Association or its successor pursuant to Section 306(g) of the National Housing Act, as amended.
GNMA Securities means modified pass through mortgage backed certificates guaranteed by GNMA pursuant to Section 306(g) of the National Housing Act, as amended.
GNMA Securities means the fully-modified, mortgage-backed securities in the form of a CLC or a PLC, issued by the First Priority Lender and registered in the name of the Bond Trustee or its designee, guaranteed by GNMA as to timely payment of principal and interest on a PLC and as to timely payment of interest only until maturity on a CLC, pursuant to Section 306(g) of Title III of the National Housing Act and the regulations promulgated thereunder, backed by the First Priority Loan insured by the Secretary by and through FHA.
GNMA Securities. As defined in the Collateral Agreement.
GNMA Securities means securities issued by the Government National Mortgage Association.
GNMA Securities means securities issued or guaranteed by GNMA, --------------- including, without limitation, modified pass-through mortgage-backed certificates guaranteed by GNMA pursuant to Section 306(g) of the National Housing Act, as amended.
GNMA Securities fully modified pass-through mortgage-backed securities guaranteed as to timely payment of principal and interest by GNMA.