Definitions for "mortgage-backed securities"
Keywords:  pool, gnma, ginnie, undivided, mae
plural of mortgage-backed security
Bond-type investment securities representing an undivided interest in a pool of mortgages or trust deeds. Security guaranteed by the Government National Mortgage Association (GNMA), issued to savings and loan associations, mortgage bankers, commercial banks and other institutions. The GNMA security holder is backed by the "full faith and credit of the United States."
Represent interests in or instruments backed by a pool of loans secured by mortgages, and the resulting cash flow is used to pay principal and interest on the securities.
Debt instruments collateralized by residential, commercial or industrial real estate mortgages.