It stands for mortgage passthrough security; a security (a mortgage-backed security, MBS) that is created from pooling mortgages (mortgage loans,...

A security (a mortgage-backed security, MBS) that is created from pooling mortgages (mortgage loans, as underlying) and sells shares or...

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

It stands for mortgage over treasury option, which is, by definition, a cash-settled call that is written on the mortgage...

A mortgage that can be transferred to another borrower. This mortgage (often shortened to assumable) let a future buyer of…

A bond in which interest and principal payments are made by home owners. Typically, it is issued by a corporate...

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

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

Refi (refinance) involves a situation when a borrower (e.g., a mortgagor) takes out a new loan, such as a mortgage...

Refinance involves a situation when a borrower (e.g., a mortgagor) takes out a new loan, such as a mortgage loan,...