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Simultaneous-Pay Bond

A collateralized mortgage obligation (CMO) that converts a long-term mortgage product with irregular and unstable cash flows into short, medium,…

CMO Floater

A floater that involves a short position in a strip of caps over the life of collateralized motgage obligation (CMO)…

CMO FRN

An abbreviation collateralized mortgage obligation floating-rate note; a collateralized mortgage obligation (CMO) that pays an adjustable rate of interest that…

Agency CMO

A collateralized mortage obligation (CMO) that is issued by a government agency or a government-sponsored enterprise. Speicifically, the agency or…

Accrual Tranche

The last tranche in a collateralized mortgage obligation (CMO). Periodic interest accrues on an accrual tranche but no cash payments...

Accrual Tranche

A tranche that has some similarities to a zero-coupon bond. An accrual tranche (zero tranche) consists of Z bonds. By...

CMO Swap

It stands for collateralized mortgage obligation swap. An interest rate swap (specifically an index amortizing swap) in which the amortization of…

CMO

It stands for collateralized mortgage obligation; a structured product that is backed and collateralized by a pool of mortgage loans...

Collateralized Mortgage Obligation

A structured product that is backed and collateralized by a pool of mortgage loans and similar debt arrangements. It is...

Index Allocated Principal Bond

A collateralized mortgage obligation (CMO) in which principal payment allocation is based on the value of a specific index. In...