Term of the Day: Gnomes

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	INVESTOPEDIA Term Of The Day October 22, 2015 Gnomes 15-year, fixed-rate, pass-through securities offered by the Federal Home Loan Mortgage Corporation, or Freddie Mac's, cash program. The securities offered under this program have a maturity of 15 years. A pass-through security pools debt obligations and passes income obligations from the person or entity that owes the debt, to the shareholders. A mortgage-backed certificate is an example of a pass through. Breaking It Down: Under the Freddie Mac cash program, Freddie Mac buys mortgages for cash, then forms a pool of mortgages and... Read More Related to "Gnomes" Top 3 New York Municipal Bond ETFs New York municipal bond exchange-traded funds (ETFs) provide investors with exposure to the New York municipal bond market... Read More Profit From Mortgage Debt With MBS In its May 2006 edition of Research Quarterly, the Bond Market Association estimated that mortgage debt represents... Read More Top 4 Muni New York Mutual Funds New York municipal bond mutual funds provide investors with professionally managed exposure to... Read More Recently Added Definitions Substitute A "substitute" or "substitute good" in economics and consumer theory is a product or service that a consumer sees... Read More Conglomerate A conglomerate is a corporation that is made up of a number of different, seemingly unrelated... Read More Related Definitions Maturity Pass-Through Security Ginnie Mae - Government National Mortgage Association - GNMA Fannie Mae - Federal National Mortgage Association - FNMA Freddie Mac - Federal Home Loan Mortgage Corp - FHLMC Past Terms of the Day Smurf Elves Sleeping Beauty Leprechaun Leader Goldilocks Economy You are currently subscribed as: mondemand.forex@blogger.com Unsubscribe | Manage Subscriptions Investopedia US, A Division of IAC. Copyright © 2015, Investopedia, LLC. All Rights Reserved Follow Us: