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FNMAFederal National Mortgage Association (Fannie Mae)
FNMAFundo Nacional do Meio Ambiente (Portuguese: National Environment Fund; Brazil)
FNMAFédération Nationale contre le Martyre des Animaux (French: National Federation against the Martyrdom of Animals)
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The average number of days, expressed as a proportion of the month, that unscheduled principal payments are held in custodial accounts during the month in which the refinancing occurred (GNMA __ this __ month, FNMA __ this __ month, FHLMC __ this __ month).
However, several types of securities issued by FNMA and FHLMC, such as residual interests and CMO classes that absorb more than their share of loss, are excluded from the lower risk weight and slotted in the 100 percent risk-weight category because of their extreme price volatility.
In addition, securities such as participation certificates and CMOs issued by FNMA or FHLMC will have a ris weight of 20 percent.
The 'AAA' rating also reflects the sufficient level of cash and investments held in the following accounts under the indenture: an Escrow Reserve Account to cover a portion of principal and interest payments on certain classes of certificates; a principal and interest (P&I) Reserve Fund as a reserve for payment of principal and interest on all classes of certificates; a FNMA Reserve Fund for payment of principal and interest on those certificates collateralized by FNMA certificates.
Shortly thereafter, the mortgage went into default, which prompted FNMA to complete a "loss mitigation review" of the property.
$276,943, 117 Pearl St, Faria, Gary S, and Bank Of America NA, to FNMA.
Accordingly, when we calibrate our agency prepayment model to take into account loan size differences, we can use it to value low WAC pools (using empirical WAC and average loan size from existing FHLMC and FNMA pools).
FNMA caused the IRS to reconsider its position regarding the proper treatment of hedging transactions.
The other major MBS guarantors are the housing GSEs: the Federal National Mortgage Association (FNMA or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mae).(2) Both also buy and hold mortgages in their own portfolios, financing them by issuing debt securities in the capital markets, and in fact they have the first- and fourth-largest mortgage portfolios, respectively, of all mortgage lenders in the United States.
The recently adopted Internal Revenue Service rules on hedging transactions certainly are welcome but, on examination, seem to do little more than capitulate to the decision on hedging rendered by the Tax Court in FNMA v.
where |d.sup.FNMA~ and |d.sup.TSY~ denote the FNMA and on-the-run Treasury discount functions, respectively.
Here's how ARMs work: Banks make adjustable rate mortgage loans and typically sell them to government agencies such as the Government National Mortgage Association (GNMA or Ginnie Mae), the Federal National Mortgage Association (FNMA or Fannie Mae), or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac).