Project loan certificate


Also found in: Dictionary, Legal, Encyclopedia.

Project loan certificate (PLC)

A primary program of Ginnie Mae for securitizing FHA-insured and coinsured multifamily, hospital, and nursing home loans.

Project Loan Security

A mortgage-backed security issued by Ginnie Mae on mortgages for larger properties. As with all mortgage-backed securities, the coupons on guaranteed mortgage securities are paid out of the principal and interest on a pool of mortgages underlying the securities. Project loan securities are issued on mortgages on multi-family homes or large construction projects.
Mentioned in ?