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pay-through bond

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asset securitization

Overview page. Subjects: Economics.

The process of turning assets into securities. There are four basic ways that this is done: via a mortgage, a pass-through, a pay-through, or unitization. See also collateralized mortgage...

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asset-backed

Overview page. Subjects: Economics.

Generic term for securities or financing methods where the underlying obligation and the source of interest and principal repayment is the cash flow from a particular financial asset or a...

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federal agencies

Overview page. Subjects: Economics.

Institutions founded by the US federal government, which de facto guarantees their debt. The institutions are responsible for providing different types of credit. The key institutions are:...

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participation certificate

Overview page. Subjects: Economics.

(PC).

1 (USA) In the US secondary mortgage market, this is a transaction where the original grantor of the mortgage retains the first call on the underlying but sells...

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pass-through

Overview page. Subjects: Economics.

A type of asset securitization in which payments on the underlying asset are ‘passed-through’ to the holders of the security. See Ginnie Mae.

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securitization

Overview page. Subjects: Economics.

The packaging of several non-marketable assets, such as mortgage loans, into bundles which are marketable. Individual mortgages are not generally marketable because there is too much...

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servicer

Overview page. Subjects: Economics.

The entity responsible for collecting and passing to investors interest and principal on assets. It is often the orginator of the assets themselves (cf. pass-through; pay-through bond). See...

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