To be announced
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To be announced (TBA)
To Be Announced
A forward contract on a mortgage-backed security. The seller agrees to deliver the MBS for an agreed upon price on an agreed upon date (usually 48 hours after the contract is made), but makes no guarantee as to which or how many securities are to be delivered. In other words, the seller delivers the amount of mortgage-backed securities that equal the market value of the selling price at the time of delivery.