mortgage-backed security

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Noun1.mortgage-backed security - a security created when a group of mortgages are gathered together and bonds are sold to other institutions or the public; investors receive a portion of the interest payments on the mortgages as well as the principal payments; usually guaranteed by the government
certificate, security - a formal declaration that documents a fact of relevance to finance and investment; the holder has a right to receive interest or dividends; "he held several valuable securities"
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The company said it intends to use the net proceeds from the offering to purchase non-agency mortgage assets (including prime jumbo residential whole loans, other mortgage loans and new issue non-agency residential mortgage backed securities, or RMBS), multi-family MBS, legacy non-agency RMBS and, to a lesser extent, agency RMBS.
UK lender Lloyds Banking Group plc (LON:LLOY) said it had agreed to shed a portfolio of US residential mortgage backed securities (RMBS) with a book value of some GBP2.7bn (USD4.1bn/EUR3.2bn) to institutions for an aggregate GBP3.3bn in cash.Country: USASector: Banking/Financial ServicesTarget: US residential mortgage backed securities (RMBS) with book value of USD4.1bnBuyer: Unnamed institutions, Goldman Sachs International Ltd Vendor: Lloyds TSB Group Pension Trust (No 1) Ltd , Lloyds Banking Group plc Deal size in USD: 5bnType: DivestmentStatus: AgreedComment: Price for sale of USD258.8m book value to oldman Sachs International is USD304.5m.
Among the issuers that saw their RMBS downgraded were Impac, Banc of America Funding Trust and Banc of America Mortgage Trust, Wells Fargo Mortgage Backed Securities Trust and Chase.
"To keep pace with the evolving marketplace, the association will expand its vision beyond commercial mortgage backed securities and cover all real estate capital market finance products to ensure that we are providing our members with the services they need and have come to expect from CMSA," said Born.
Five Oaks said it intends to use the net proceeds from the offering to purchase non-agency mortgage assets (including prime jumbo residential whole loans, other mortgage loans and new issue non-agency residential mortgage backed securities, or RMBS), multi-family MBS, legacy non-agency RMBS and, to a lesser extent, agency RMBS.
It complained about GreenPoint in October and had sued Goldman Sachs over USD275m of mortgage backed securities.
In another sign of the widening appeal and growing availability of commercial real estate equity and debt securities, REIT and commercial mortgage backed securities issuance has surpassed the $1 trillion mark, according to data compiled by the National Association of Real Estate Investment Trusts.

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