mortgage backed passthrough security
Definition
Debt instrument that conveys an ownership right to a fractional part of each mortgage in a pool of mortgages backing the security. Unlike unsecured securities, they are considered 'investment grade,' and are out of the income generated by principle and interest payments on the underlying mortgage. It is a type of mortgage derivative.
mortgage backed passthrough security is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
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