Mortgage-Backed Security definition

Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

Mortgage-Backed Security. Any fully-modified pass-through mortgage-backed security that is (a) either issued by a Guarantor and fully guaranteed by Xxxxxx Mae or issued and fully guaranteed with respect to timely payment of interest and ultimate payment of principal by Xxxxxx Xxx or Xxxxxxx Mac; (b) evidenced by a book-entry account in a depository institution having book-entry accounts at the applicable Depository; and (c) backed by a Pool, in substantially the principal amount and with substantially the other terms as specified with respect to such Mortgage-Backed Security in the related Purchase Commitment.

Mortgage-Backed Security means any security (including, without ------------------------ limitation, a participation certificate) that represents an interest in a pool of mortgages, deeds of trusts or other instruments creating a Lien on Property which is improved by a completed single family residence, including but not limited to a condominium, planned unit development or townhouse.

Examples of Mortgage-Backed Security in a sentence

• Rate Mortgage-Backed Security (ARM); the rate shown is the effective rate at period end.

• The following terms defined in Section 1.01 of the Trust Agreement are modified to have the following meanings for the Series of Certificates authorized hereby: Certificate: A Guaranteed Agricultural Mortgage-Backed Security, which, in the case of all Classes of Certificates, shall be issued in book-entry form and maintained in the name of a record owner as an entry on the books of a Reserve Bank under a designation specifying the Series, Class and denomination thereof.

• A pool of fully amortizing first lien residential Mortgage Loans eligible in the aggregate to back a Mortgage-Backed Security.

• The purchase price to be paid for a Purchased Asset or related Mortgage-Backed Security by the related Approved Investor pursuant to the related Purchase Commitment.

• A Non-Agency Residential Mortgage-Backed Security where the security is backed primarily by cash flows from Residential Mortgage Loans with respect to which the weighted average credit (FICO) score of the borrowers thereunder was greater than or equal to 720 at the time of origination.

More Definitions of Mortgage-Backed Security

Mortgage-Backed Security means a security (including, without limitation, a participation certificate) that is an interest in a pool of Mortgage Loans or is secured by such an interest.

Mortgage-Backed Security a security (including, without ------------------------ limitation, a participation certificate) that is an interest in a pool of Mortgage Loans or is secured by such an interest.

Mortgage-Backed Security a security (including, without limitation, a participation certificate) that is an interest in a pool of Mortgage Loans or is secured by such an interest and is guaranteed by GNMA or is issued or guaranteed by FNMA or FHLMC.

Mortgage-Backed Security means a mortgage pass-through security, collateralized mortgage obligation, real estate mortgage investment conduit or other security that: (a) is based on and backed by an underlying pool of mortgage loans; and (b) provides for payment by its issuer to its holder of a specified principal installments and/or fixed or floating rate of interest on the unpaid balance and for all prepayments to be passed through to its holder.

Mortgage-Backed Security means debt obligations, including

Mortgage-Backed Security means indebtedness, a participation in indebtedness, or other interest in indebtedness secured by a mortgage lien upon real estate, or a participation in or other interest in a syndicate, pool, trust, or other entity consisting of indebtedness secured by a mortgage lien upon real estate.

Mortgage-Backed Security. Either (i) a certificate issued under a trust agreement representing 100% ownership of a Delaware business trust that has issued bonds secured by a pool of Mortgage Assets; (ii) a subordinated bond issued by a Delaware business trust that has issued bonds under an indenture secured by a pool of Mortgage Assets; or (iii) a certificate issued under a pooling and servicing agreement or note issued under an indenture in each case secured by a pool of Mortgage Assets.