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The American Heritage Dictionary of Business Terms » guaranteed mortgage certificate
guaranteed mortgage certificate
guaranteed mortgage certificate definition - business
guaranteed mortgage certificate
A pass through issued by Freddie Mac in which conventional mortgages purchased by Freddie Mac are resold to investors in $100,000, $500,000, and $1,000,000 principal amounts. Interest is paid semiannually and principal repayments are made annually. See also pass-through security.
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