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Net Interest Margin Security
(redirected from Net interest margin securities)

   Also found in: Wikipedia 0.02 sec.
Net Interest Margin Security
A security based on the value of excess cash flows received by a mortgage-backed security. That is, if an MBS receives more cash flows than are needed to make coupon and principal payments to holders, it may place these cash flows into a different account and issue NIMS entitling the holders to these cash flows.


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Three transactions remain on 'Under Analysis', indicating that Fitch will be issuing a rating action within 30 days and are as follows: --LBSBC Net Interest Margin Securities, series 2005-1; --LBSBC Net Interest Margin Securities, series 2005-2; --LBSBC Net Interest Margin Securities, series 2006-1.
LBSBC Net Interest Margin Securities, series 2005-1 --Class N2 'BB'; --Class N3 'B'.
TPG views the creation of PMI Guaranty as an important step in reaching its goal of becoming a leading global provider of credit enhancement, enabling it to broaden its product offerings into extensions of existing business lines such as net interest margin securities (NIMs) and second lien mortgages, both of which are excluded from the monoline mortgage insurance charter of PMI.
 
 
 
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