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48-Hour Rule

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48-hour rule
PSA Uniform Practices requirement that all pool information in a to be announced (TBA) transaction be communicated by the seller to the buyer before 3 p.m. EST on the business day 48 hours prior to the agreed-upon trade date.
48-Hour Rule
A rule under the PSA Uniform Practices requiring that all information about the mortgages underlying a forward contract on a mortgage-backed security be communicated from a seller to a buyer by 3 p.m. two days before the delivery takes place. This contract is known as TBA.


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