pass through security
Definition
Pooled debt obligations (such as home mortgages) packaged and sold as shares. In this arrangement principal and interest payments from borrowers go (pass through) first to an intermediary (usually the seller of security and manager of the underlying mortgages) who deducts a management fee before passing them on to the investors. See also pay through security.
pass through security is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
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