GMC

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GMC

Guaranteed Mortgage Certificate

A mortgage-backed security issued by Freddie Mac. As with all mortgage-backed securities, the coupons on guaranteed mortgage certificates are paid out of the principal and interest on a pool of mortgages underlying the securities. However, GMCs have a guaranteed average life, meaning that Freddie Mac protects the investor from prepayment risk by guaranteeing principal and interest payments in the event that too many mortgage holders pay back their loans early, depriving the pool of interest it otherwise would have received. See also: collateralized mortgage obligation.
References in periodicals archive ?
Peitel admitted his convictions to the General Medical Council but denied making derogatory comments about the disabled.
Yesterday, the General Medical Council was told how his GP had effectively ``cleared'' him to drive by wrongly filling in a licence form.
He was struck off by the General Medical Council last July.
The General Medical Council was informed and the trust also sought and received advice from the National Clinical Assessment Service.
A General Medical Council spokeswoman said: "Although the Panel has made some adverse findings in relation to his behaviour and has concerns about this, on no occasion was patient safety compromised.
He was struck off by a General Medical Council Fitness to Practise Panel sitting in Manchester Last week the panel found almost all the charges against Prof van Velzen, from Oegstgeest in Holland, proved.
A GP will answer charges of serious professional misconduct in front of a General Medical Council panel tomorrow.
Dr Harding Price was struck off last December by Britain's General Medical Council after he was found guilty of serious professional misconduct.
But detectives have reported Dr Barkat Chowdhury to the General Medical Council for possible action to be taken regarding his licence to practise.
The "embarrassed and ashamed" surgeon notified the General Medical Council of his conviction.
Bosses at the General Medical Council want to give members of the public the chance to have their say about standards of medical care.
A PSYCHIATRIC doctor who is accused of asking a patient's carer for a pounds 300 loan and of taking medical records from Coventry without consent is set to appear before the General Medical Council.

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