Mortgage Securitization CMBS Commercial Mortgage-Backed Security — a bond backed by a pool of commercial mortgages.
Mortgage Securitization Master Servicer The party responsible for the day-to-day administration of loans in a securitized pool.
Mortgage Securitization Pari Passu Bonds Tranches within a securitization that share losses pro rata.
Mortgage Securitization Pooling and Servicing Agreement (PSA) The contract governing a securitized mortgage pool and its participants.
Mortgage Securitization Re-REMIC A re-securitization of mortgage-backed securities into new tranches.
Mortgage Securitization RMBS Residential Mortgage-Backed Security — a bond backed by residential mortgages.
Mortgage Securitization Servicer The company that collects payments and manages a mortgage on behalf of the loan owner.
Mortgage Securitization Servicing Strip The fee paid to the servicer carved out of the loan’s interest rate.
Mortgage Securitization Subordination Level The percentage of pool losses a senior tranche can absorb before being affected.
