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More complicated mortgage-backed securities, known as collateralized mortgage obligations (CMOs) or real estate mortgage investment conduits (REMICs), consist of multiple classes of securities designed to appeal to investors with different investment objectives and risk tolerances.
The ?Pooling and Servicing Agreement? is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.
A mortgage pool is a group of mortgages held in trust as collateral for the issuance of a mortgage-backed security. Some mortgage-backed securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae are known as "pools" themselves.
A mortgage pool is a form of alternative investment that provides mortgages to those who may not be approved through usual methods. Essentially, a group of investors pool their money together and invest in projects that range from commercial to residential property.
A collateralized mortgage obligation (CMO) is a fixed-income security with a pool of mortgage loans that are similar in a variety of ways, like credit score or loan amount, and are combined and resold as a single packaged investment to investors called a security.
Securitization. Act of pooling mortgages and then selling them as mortgage-backed securities. - Mortgage loans purchased from the primary mortgage market are assembled into pools by a government/quasi-governmental entity or a private investor who operates in the secondary mortgage market.