Net Interest Margin Security

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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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The required consents for a given loan modification will be even more difficult to obtain if(I) a pool of mortgage securities includes interests in other pools of mortgage loans, (2) any homeowner has more than one mortgage loan (each loan is usually securitized separately and included in a separate pool), (3) any homeowner has private mortgage insurance, which is generally terminated by a loan modification, (4) any net interest margin securities with respect to any pool (representing the residual or "equity" interest in such pool) have been insured by an insurer, since such insurer must also generally consent to any amendment to the pooling and servicing agreement, and (5) any loan modifications are significant enough to jeopardize the tax-free REMIC status of the pool.
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.
He also has experience in resecuritizations of residential mortgage-backed securities, net interest margin securities transactions and warehouse financings.
The updated cash flow modeling criteria will also affect the way net interest margin securities (NIMs) are analyzed and sized by Fitch.
NEW YORK -- Loss timing plays a pivotal role in cash flows for net interest margin securities (NIMs), which achieve investment grade ratings due to the sufficiently large amount of excess spread, net of losses, available to make payments to U.
The updated cash flow modeling criteria will affect the way net interest margin securities (NIMs) are analyzed and sized by Fitch.
CHICAGO -- Fitch has assigned ratings to Lehman Brothers Small Balance Commercial's (LBSBC) net interest margin securities, series 2006-1, as follows:
Net Interest Margin Securities (NIMS) issued hit a record high during second-quarter 2003 and continued to outperform original cash flow projections, according to the most recent edition of NIMS Quarterly Highlights, released this week by Standard & Poor's Ratings Services.
For net interest margin securities, the representations and warranties should be made in the transaction documents for the underlying mortgage-backed securitization.
net interest margin securities (NIMS) performance in first-quarter 2003-a quarter in which, on average, U.
Net Interest Margin Securities (NIMS) rated by Standard & Poor's continued to outperform original projections during the fourth quarter, as short-term rates, namely the London Interbank Offer Rate (LIBOR), remain at historic lows.
July 30, 2002-- Standard & Poor's Ratings Services today launched its first quarterly report dedicated to the net interest margin securities (NIMS) market.