GMC

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GMC

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Guaranteed Mortgage Certificate

A mortgage-backed security issued by Freddie Mac. As with all mortgage-backed securities, the coupons on guaranteed mortgage certificates are paid out of the principal and interest on a pool of mortgages underlying the securities. However, GMCs have a guaranteed average life, meaning that Freddie Mac protects the investor from prepayment risk by guaranteeing principal and interest payments in the event that too many mortgage holders pay back their loans early, depriving the pool of interest it otherwise would have received. See also: collateralized mortgage obligation.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
However, there will be some changes, such as giving doctors the right to seek costs from the General Medical Council if they feel a case should never have been taken to a hearing.
The General Medical Council is expected to decide his fate later today.
The NSPCC urged the General Medical Council to follow their guidance "that no doctor registered as a sex offender should have unrestricted registration".
The General Medical Council confirmed that Moore has been restricted from carrying out any medical duties after its Interim Orders Panel suspended his registration for 18 months earlier this year.
At a General Medical Council Fitness to Practice hearing yesterday, Dr Ghosh was told: "The panel did not consider it appropriate to conclude the case by taking no further action.
A spokeswoman for the General Medical Council said: "Dr Harry was fully registered with us in 1993.
The General Medical Council will investigate allegations that Dr Kamlesh Oija failed to provide adequate treatment to a number of his patients.
The General Medical Council heard that Al-Kureshi did not always review or make full patient notes.
I HEAR that the General Medical Council is concerned at a loss in public faith and trust in their trade.
A General Medical Council fitness to practise panel heard the senior house officer paediatrician also persuaded four female nurses to inhale the gas in what were described as "Entonox parties".
THE General Medical Council is facing a judicial review over claims it failed to investigate the death of a 10-year-old boy.