mortgage pool

(redirected from Mortgage Pools)

Mortgage pool

A group of mortgages with similar class, interest rate, and maturity characteristics.

Mortgage Pool

A group of mortgages that may be placed into the same investment vehicle, especially a mortgage-backed security. The mortgage pool is collected and then divided up into smaller pieces, each containing the same proportion of the individual mortgages; the pieces are then sold as securities. Generally speaking, the mortgages in a mortgage pool have the same characteristics, such as similar maturities.

mortgage pool

A combination of similar mortgages used as collateral for loans or for participation certificates sold to investors. Also called pool.
References in periodicals archive ?
The certificates are collateralized by two separate mortgage pools, Pool A and Pool B, consisting of conventional, one- to four-family, fully amortizing, fixed rate, mortgage loans secured by first liens on primary residential properties.
The mortgage pools are currently 55 months seasoned.
The subordinate certificates will be cross-collateralized and will receive interest and principal from available funds collected in the aggregate from all mortgage pools.
The mortgage pools from the above transactions consist of fixed-rate, closed-end home equity mortgage loans, secured by residential properties which have original terms to maturity of 15 or 30 years.
Distributions of principal and interest on the class A7, A8, M1, M2, M3, M4, M5, M6, M7 and B certificates will be based on collections from all mortgage pools.
Distributions of principal and interest on the class A5, M1, M2, M3, M4, M5, M6, M7, and B1 certificates will be based on collections from all mortgage pools.
The subordinate certificates will be cross-collateralized and will receive interest and/or principal from available funds collected in the aggregate from all mortgage pools.
Distributions of principal and interest on the class M1, M2, M3, M4, M5, M6 and B certificates will be based on collections from all mortgage pools.
Distributions of interest on the class A-SIO certificates will be based on collections from the combined mortgage pools.
Distributions of interest on the class A-IO certificates will be based on collections from the combined mortgage pools.
Distributions of interest on the class A3 and A-IO certificates will be based on collections from the combined mortgage pools.
1, 2004), the mortgage pool consists of fixed-rate mortgage loans, which have 15- and 30-year amortization terms, with an approximate balance of $1,209,053,971.

Full browser ?