Refers to the securitization structure where the SPV makes payments, or rather, passes payments to the investors, on the same periods, and subject to the same fluctuations, as are there in the actual receivables That is to say, amount collected every month is passed through to investors, after deducting fees and expenses Compare with pay through
Lines advance moving slightly to the left to pass the other line by right shoulders to face a new line If arches are used the couples moving towards the band arch, the others drop hands
(Spor) Used to get through the opposing team's defense. The attacking player passes the ball between defenders to a team member or into a space for them to move on to
An operation involving a foreign country's use of one country in a trade bloc to gain preferential treatment from other countries in the bloc Also known as transshipment
A security in which principal, interest, and prepayments are passed through to investors of the security each month, as received Mortgage collateral is held by a grantor trust in which investors own an undivided interest In accounting terms, a pass-through is treated as a sale of assets
A mortgage-backed security for which the payments on the underlying mortgages are passed from the mortgage holder through the servicing agent (who usually keeps a portion as a fee) to the security holder There are 3 types of pass-through securities
A security issued by the Government National Mortgage Association (Ginnie Mae) to mortgage investors Cash flows from the underlying block individual mortgage loans are "passed through" to the holders of the securities in pro rata share, including loan prepayments With a mortgage-backed security, the timely payment of principal and interest is guaranteed by Ginnie Mae In 1982, the Federal National Mortgage Association (Fannie Mae) instituted its own mortgage-backed securities program designed to attract billions of dollars into the conventional mortgage market from pension funds and other investors (See FHA, Fannie Mae, Freddie Mac, Ginnie Mae, mortgage-backed securities, VA loan)
A mortgage-backed security in which payments of principal, interest and prepayments on the underlying mortgages are passed through to investors of the security monthly, as received
{i} passage, area through which people or material can cross; small opening in a wall that is used to pass items from one room to another often used for passing food between the kitchen and dining room