GNMA Securities definition

GNMA Securities. Shall have the meaning ascribed thereto in the definition of “Agency Security” herein.

GNMA Securities has the meaning specified in clause (e) of the definition of “Cash 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 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.

• REMIC Certificates: Multiclass GSE Securities and Multiclass GNMA Securities.

• Amounts credited to the Custodial Account will be distributed to Holders on the applicable Payment Date to the extent of interest and principal payments due on the related Multiclass GNMA Securities and any related MACR Certificates on that Payment Date.

• 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.

More Definitions of GNMA Securities

GNMA Securities means modified pass-through type mortgage backed certificates guaranteed by GNMA pursuant to Section 306(g) of the National Housing Act, as amended.

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. As defined in the Collateral Agreement.

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 fully modified pass-through mortgage-backed securities guaranteed as to timely payment of principal and interest by GNMA.

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.