§ 320.8 - Excess Yield Securities.

Latest version.

§ 320.8 Excess Yield Securities.

(a) Definition. Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities.

(b) GNMA guaranty. The Association guarantees the timely payment of interest as provided by the terms of the security.

[71 FR 32389, June 5, 2006]

                    
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§ 320.8 - Excess Yield Securities.

§ 320.8 Excess Yield Securities.