MBS Depository

Business / Finance / MBS Depository: A book-entry depository for GNMA securities. The depository was initially operated by MBSCC and is now a separately incorporated, participant-owned, limited-purpose trust company organized under the State of New York Banking Law.

MBS Servicing

Business / Finance / MBS Servicing: The requirement that the mortgage servicer maintain payment of the full amount of contractually due principal and interest payments whether or not actually collected. MORE

MBS Depository

Business / Finance / MBS Depository: A book-entry depository for GNMA securities. The depository was initially operated by MBSCC and is now a separately incorporated, participant-owned, limited-purpose trust company organized under the S MORE

International Depository Receipt (IDR)

Business / Finance / International Depository Receipt (IDR): A receipt issued by a bank as evidence of ownership of one or more shares of the underlying stock of a foreign corporation that the bank holds in trust. The advantage of the IDR structure is that the MORE

Honey Combs

Business / Construction / Honey Combs: The appearance concrete makes when rocks in the concrete are visible and where there are void areas in the foundation wall, especially around concrete foundation windows. MORE

Mortgage-Backed Securities (MBS)

Business / Finance / Mortgage-Backed Securities (MBS): Investment instruments backed by a pool of mortgage loans. MORE

Mortgage-Backed Securities Clearing Corporation (MBSCC)

Business / Finance / Mortgage-Backed Securities Clearing Corporation (MBSCC): A wholly owned subsidiary of the Midwest Stock Exchange that operates a clearing service for the comparison, netting, and margining of agency-guaranteed MBS transacted for forward delivery. MORE

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