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Ginnie Mae Securities
Characteristics of REMIC Securities
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assets Capital Reserves cash flow CMOs Collateralized Mortgage Obligation companion classes constant prepayment rate coupon rate credit risk CUSIP Depository faith and credit Federal Housing Administration federal income tax Figure ﬁxed full faith Ginnie Mae Certiﬁcate Ginnie Mae guaranty Ginnie Mae MBS Ginnie Mae REMIC Ginnie Mae securities guaranteed mortgages holders income tax purposes increase insured or guaranteed interest payments interest rate environment investment horizons lenders Mae guarantees Mae II Program Mae MBS Certiﬁcate Mae MBSs Mae REMIC securities Mae’s Market Risk maturity Offering Circular Supplement PAC band PAC classes payment of principal percent risk weight pool prepayment speeds principal amount principal and interest principal balance regular interest related REMIC REMI REMIC class REMIC Structure Example REMIC Trust residential mortgages residual classes risk weight category Rural Housing Service secondary market speciﬁc Support Class total cash ﬂow typically underlying collateral underlying Ginnie Mae weighted average