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PAC Band

A PSA range within which the underlying mortgage collateral should remain over time so that a PAC bond would stick…

    Support Bond

    A tranche-type bond that constitutes one of the two general parts (tranches) of a PAC-structured CMO (collateralized mortgage obligation), with...

      Companion Tranche

      A tranche (specifically, a CMO tranche) that is designed to protect investors from prepayment risk. To that end, it absorbs...