Whole loan


Also found in: Acronyms.

Whole loan

A term that distinguishes an investment representing an original mortgage loan from a loan representing a participation with one or more lenders.

Whole Loan

Describing a collateralized mortgage obligation that is too large to be issued or guaranteed by Ginnie Mae, Freddie Mac, or Fannie Mae. That is, a whole loan CMO represents jumbo mortgages, which can be riskier than other mortgages. As a result, whole loan CMOs pay a higher yield than those issued by a government agency; because of the lack of a government guarantee on coupon payments, they have a higher exposure to prepayment risk.
References in periodicals archive ?
Biegel previously served as Managing Director at Lone Star Funds, where he was the head of the residential whole loan business platform and responsible for its design and implementation.
This is a question that will need to be answered by the financial instruments project; however, it would seem appropriate for the seller to establish as an obligation the fair value of the credit guarantee and/or the interest rate swap issued in the whole loan sale.
Wang previously served as Senior Vice President of Loan Trading at Wunderlich Securities, where he managed the whole loan trading desk.
Carlton has been selling loans for banks since 1991 and has closed well over $20 billion of whole loans and mezzanine loans.
FIG's new whole loan trading capabilities are a terrific complement to our securities trading operations," said Ricardo Diaz, Head of Fixed Income for FIG Partners.
9%) of the outstanding whole loan balance by loan amount (which excludes MBS) is Federal Housing Administration (FHA)-insured, 17.
Given the amount of oversight in lending today, defaults on whole loans should be far lower than the default rate was in 1990-1993.
New Service Expands Company's Evaluation Offerings to Include Performing and Non-Performing Whole Loans
Paul and John are the first hires specializing in whole loan securitization for the firm and Mark brings an ABS focus and expertise to our distribution effort," commented Mr.
In addition, the mortgage whole loan portfolio will continue to produce cash flows as current loans pay down and non-performing loans become resolved.
These transactions represent a move by ABFS toward less reliance on quarterly securitizations of its loan originations, in favor of a greater emphasis on whole loan sales for cash, which will allow the Company to streamline operations, introduce a broader mortgage product line, and capture strategic efficiencies.
the current portfolio, which, as of July 31, 2009, consisted of approximately 91% MBS and 9% single-family whole loan mortgages;