Mortgage-Backed Securities Clearing Corporation

Mortgage-Backed Securities Clearing Corporation (MBSCC)

"Founded" in 1979, MBSCC is the sole provider of automated post-trade comparison, netting, risk management and pool notification services to the mortgage-backed securities market. The organization is a registered clearing agency with the Securities and Exchange Commission and majority-owned by its members -- MBS dealers, inter-dealer brokers and other non-broker/dealers. MBSCC provides its specialized services to major market participants active in various Government National Mortgage Association (GNMA), Fannie Mae(FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) MBS programs.

MBS Clearing Corporation

A clearing corporation for transactions involving mortgage-backed securities. That is, it settles MBS transactions and ensures that the appropriate securities change hands and that all of the correct parties are paid the correct amount. It was established in 1979.
References in periodicals archive ?
He also was responsible for overseeing the financial operations of what was then known as the Government Securities Clearing Corporation (GSCC) and Mortgage-Backed Securities Clearing Corporation (MBSCC), two organizations that later merged to form FICC.
PTC was established in March 1989, as successor to the Mortgage-Backed Securities Clearing Corporation (MBSCC), to address a variety of inefficiencies in the process of physical delivery of GNMA I securities.