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Class 'Whole loan'

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Whole loans are normally larger in size than accepted following the standards. Several whole loans can be grouped as collateral for a Collateral Mortgage Obligation. The CMO is a separate entity of the mortgage debt financial institution. The CMO is holder of a pool of morgage debts. The CMO issues debt certificates, bonds, on his turn with the mortgages as collateral. The bonds are called classes or tranches. The distribution of the collaterals over the bonds is called the structure. The whole of the setup is called the deal.

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Whole loan

Mortgage backed debt