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| Also called a Mortgage-Backed Security (MBS). Is a formal promise to repay a debt with as collateral a pool of mortgages. The underlying mortgages can be payed back in advance or curtailed. The monthly payments are variable. |
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| Group mortgage backed security |
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| C-Commercial mortgage backed, O-Collateral mortgage obligation, P-Mortgage pass thru CTF, S-SMBS Strips, T-Remic, W-Whole loan | |
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