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PAC (1)

PAC (2)

PAC Bond

A collateralized mortgage obligation that seeks to protect investors from prepayment risk. PACs do this by setting a schedule of payments; if prepayments of the underlying mortgages exceed a certain rate, the life of the PAC is shortened. If they fall below a certain rate, the life of the tranche is extended. This helps protect investors in case the holders of the underlying mortgages do not pay off their mortgages as expected.


References in periodicals archive ?
Combining legislative advocacy at the federal, state and local levels with PAC contributions provides the best positioning for the industry.
Other top takers of Superfund-related PAC contributions in the House include: Alaska congressman Don Young (LCV, 0), who, when asked what he thinks of when he sees a tree, replied, "I see paper to blow your nose," $36,300 (see sidebar); House Majority Leader Dick Armey of Texas (LCV, 0), who consistently pushes anti-environmental legislation to the fore, $54,000; and Ohio Republican Michael Oxley (LCV, 0), who authored a Superfund bill that might well have been ghost-written by the polluters themselves, $75,900.
Thousands of subcontractors and their supplier&-benefit from B-2 production, and they have inundated pliable legislators with individual campaign contributions in addition to PAC money.
Critics say that eliminating PACs would only make candidates more dependent on wealthy contributors.
The PAC solicitation process has becomeroutinized and mechanized.
After sending more than 20 mailings, they have created a hefty file of names: 17,000 for the Central America PAC and 33,000 for the arms control PAC.