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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If an issuer of a mortgage-backed security backs the security only with mortgages that meet the definition of a QRM, it will be exempt from the 5% skin in the game part of the rule, a powerful incentive to any MBS issuer.
And a temporary easing of capital requirements would have given banks the breathing room to sort out the mortgage-backed security mess.
Also, prepayments generally accelerate when it is least desirable from the mortgage-backed security holder's point of view.
Lucash said the first mortgage-backed security is expected to be issued this Fall.