Copyright © Philip M. Parker, INSEAD. Terms of Use.
| Domain | Definition |
Finance | Mortgage-backed bond that separates mortgage pools into short-, medium-and long-term portions. Investors can choose to buy into whatever pool they wish, depending on whether they want a faster return or long-term gains ; a security backed by a pool of pass-throughs, structured so that there are several classes of bondholders with varying maturities, called tranches. Source: European Union. (references) |
| A type of bond having mortgages or mortgage-backed securities as collateral. Principal and interest payments from an underlying pool of mortgages are redirected to pay the CMO holders until the CMOs are retired. A single issue of CMOs contains two or more classes of bonds called tranches, each with a different length of maturity, providing a form of call protection to the holder of a CMO. A holder who wants to lock in a CMO investment for a specific length of time will buy into a tranche with a low risk of being retired early because the underlying mortgages are paid off early. Such low prepayment risk tranches are called planned amortization classes (PACs). Changes in prepayment rates in the underlying pool of mortgages are absorbed first by another tranche, so that the PAC remains unaffected by prepayment risk. CMOs generally pay principal and interest semiannually. CMO were first issued by the Federal Home Loan Mortgage Corporation (Freddie Mac) in June 1983. (CMO). (references) | |
Source: compiled by the editor from various references; see credits. | |
Crosswords: COLLATERALIZED MORTGAGE OBLIGATION |
| Specialty definitions using "COLLATERALIZED MORTGAGE OBLIGATION": index amortizing note ♦ planned amortization class. (references) |
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
collateralized mortgage obligation | 23 |
| Source: compiled by the editor from various references; see credits. | |
Hexadecimal (or equivalents, 770AD-1900s) (references)43 4F 4C 4C 41 54 45 52 41 4C 49 5A 45 44 4D 4F 52 54 47 41 47 45 4F 42 4C 49 47 41 54 49 4F 4E |
| Leonardo da Vinci (1452-1519; backwards) (references)
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Binary Code (1918-1938, probably earlier) (references)01000011 01001111 01001100 01001100 01000001 01010100 01000101 01010010 01000001 01001100 01001001 01011010 01000101 01000100 00100000 01001101 01001111 01010010 01010100 01000111 01000001 01000111 01000101 00100000 01001111 01000010 01001100 01001001 01000111 01000001 01010100 01001001 01001111 01001110 |
HTML Code (1990) (references)C O L L A T E R A L I Z E D   M O R T G A G E   O B L I G A T I O N |
ISO 10646 (1991-1993) (references)0043 004F 004C 004C 0041 0054 0045 0052 0041 004C 0049 005A 0045 0044 004D 004F 0052 0054 0047 0041 0047 0045 004F 0042 004C 0049 0047 0041 0054 0049 004F 004E |
Encryption (beginner's substitution cypher): (references)374946463554395235464360393824749525441354139249364643413554434948 |
| 1. Synonyms 2. Crosswords 3. Expressions: Internet 4. Orthography | 5. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.
