principal-only securities

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principal-only securities (POS)

Collateralized mortgage obligations issued by the Government National Mortgage Association (Ginnie Mae) that have been stripped out into bonds based only on interest payments (interest-only securities) and those based solely on principal payments (principal-only securities).

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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