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.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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