Definitions for "Mortgage-backed security"
Keywords:  cmo, ginnie, undivided, evidenced, pool
A debt instrument backed by a pool of mortgages issued by a mortgage lender or government agency that investors may buy to receive periodic interest payments and principal payments as the mortgages are repaid.
Bond-type investment security representing an undivided interest in a pool of mortgages or deeds of trust.
An investment instrument that represents ownership of an undivided interest in a group of mortgages. Principal and interest from the individual mortgages are used to pay principal and interest on the MBS.