mortgage pool

Mortgage pool

A group of mortgages with similar class, interest rate, and maturity characteristics.

Mortgage Pool

A group of mortgages that may be placed into the same investment vehicle, especially a mortgage-backed security. The mortgage pool is collected and then divided up into smaller pieces, each containing the same proportion of the individual mortgages; the pieces are then sold as securities. Generally speaking, the mortgages in a mortgage pool have the same characteristics, such as similar maturities.

mortgage pool

A combination of similar mortgages used as collateral for loans or for participation certificates sold to investors. Also called pool.
References in periodicals archive ?
The aggregate mortgage pool trust consists of 1,921 fixed-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity of 30 years.
The mortgage pool consists of four separate loan groups.
Each of the senior certificates generally receives distributions based on principal and interest collected from mortgage loans in its corresponding mortgage pool.
1, 2006, the Group I mortgage pool consists of 200 conventional, fully amortizing, 15-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance of $112,277,350.
The Group II mortgage pool consists of 1,447 conventional, fully amortizing, 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance of $727,804,417.
Approximately 24% of the mortgage pool is fixed rate and 76% is adjustable.
Cash-out refinance loans represent 34% of the mortgage pool and second homes 6.
1, 2006, the Group I mortgage pool consists of 1,534 conventional, fully amortizing, 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance of $780,377,224.
The Group II mortgage pool consists of 541 conventional, fully amortizing, 15-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance of $307,307,119.
The mortgage pool consists primarily of first lien subprime loans.
The mortgage pool consists primarily of subprime first and second lien loans.
The Group 1 mortgage pool trust consists of 1,697 fixed-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity of 30 years.

Full browser ?