Excess Yield Securities.

24 C.F.R. § 320.8
in effectEffective: 2024-07-01
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(a) Definition. Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities. (b) GNMA guaranty. The Association guarantees the timely payment of interest as provided by the terms of the security.

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