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Islamic CDO

A collateralized debt obligation (CDO) that is structured in a way compliant with shari'ah rules and principles. The pool (reference...

CMBS Interest Only

It stands for commercial mortgage-backed securities (CMBS) interest only (IO). These IOs (stripped mortgage products) are coupons stripped from an...

CMBS IO

It stands for commercial mortgage-backed securities (CMBS) interest only (IO). These IOs (stripped mortgage products) are coupons stripped from an...

Pipeline Risk

The risk that mortgage brokers encounter in their business- i.e., provision of commitments to mortgage borrowers. It arises from adverse...

Deficiency Judgment

The amount for which a mortgagor/ borrower facing foreclosure is held personally liable if the sale proceeds of the foreclosed...

Distressed Asset Sale

The sale of an asset at less than its market value (or intrinsic value) in order to obtain funds as...

XAC Bond

A collateralized mortgage obligation (CMO) in which principal payment allocation is based on the value of a specific index. In...

GPM

It stands for graduated payment mortgage; a fixed rate mortgage that entails low payment (of interest and repayment of principal) in...

Jeep Mortgage

A fixed rate mortgage that entails low payment (of interest and repayment of principal) in the early years, and thereafter...

Graduated Payment Mortgage

A fixed rate mortgage that entails low payment (of interest and repayment of principal) in the early years, and thereafter...