MBS Clearing Corporation(redirected from Mortgage Backed Securities Clearing Corporation)
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MBS Clearing Corporation
A clearing corporation for transactions involving mortgage-backed securities. That is, it settles MBS transactions and ensures that the appropriate securities change hands and that all of the correct parties are paid the correct amount. It was established in 1979.
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MBS Clearing Corporation (MBSCC)
A registered clearing agency with the SEC that provides automated post-trade comparison, netting, risk management, and pool notification services for the mortgage-backed securities market. MBSCC provides services to firms engaged in programs involving Ginnie Mae, Freddie Mac, and Fannie Mae.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.