GNMA Certificates Sample Clauses
The GNMA Certificates clause defines the treatment and handling of Government National Mortgage Association (GNMA) certificates within the context of the agreement. It typically outlines the rights and obligations of the parties regarding the purchase, sale, or custody of these certificates, including how interest and principal payments are managed and any requirements for recordkeeping or reporting. This clause ensures that both parties clearly understand their responsibilities and the procedures related to GNMA certificates, thereby reducing the risk of disputes and ensuring compliance with regulatory standards.
GNMA Certificates. Mortgage-backed pass-through certificates issued by private entities, evidencing undivided interests in pools of first lien mortgages or deeds of trust on single family residences, guaranteed by the Government National Mortgage Association (GNMA) with the full faith and credit of the United States, issued after July 18, 1984 and having a remaining maturity of not more than 30 years. * * * *
GNMA Certificates. Mortgage-backed pass-through certificates issued by private entities, evidencing undivided interests in pools of first lien mortgages or deeds of trust on single family residences, guaranteed by the Government National Mortgage Association (GNMA) with the full faith and credit of the United States, issued after July 18, 1984 and having a remaining maturity of not more than 30 years. 100 % 86% (weekly valuation) (U) Commercial Mortgage-Backed Securities. Floating rate commercial mortgage-backed securities rated AAA by two major rating agencies (including S&P so long as it is a Rating Agency hereunder) with a minimum par or face amount of $250 million (excluding securities issued under Rule 144A) (“Commercial Mortgage-Backed Securities”) having a remaining maturity of not more than 5 years. 96.2 95.1 (V) Commercial Mortgage-Backed Securities having a remaining maturity of more than 5 years and not more than 10 years. 92.9 90.9 (W) Commercial Mortgage-Backed Securities having a remaining maturity of more than 10 years. 91.0 88.6
GNMA Certificates. Mortgage-backed pass-through certificates issued by private entities, evidencing undivided interests in pools of first lien mortgages or deeds of trust on single family residences, guaranteed by the Government National Mortgage Association (GNMA) with the full faith and credit of the United States, issued after July 18, 1984 and having a remaining maturity of not more than 30 years. * * 98% (Less than 5 years) 92% (5 to 10 years) 78.4% (Less than 5 years) 73.6% (5 to 10 years)