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Pass-Through Certificate |
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Pass-Through Certificate A derivative security representing the receivables on some debt. That is, a shareholder of a pass-through certificate is entitled to a portion of the income from the debt. Generally, a pass-through certificate has a large number of debts underlying it; for example, a pass-through may represent a portion of several hundred car loans. The most common type of pass-through is a mortgage-backed security. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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