Collateral.

CFR · 2024-01-01 · US · Title 12

(a) (1) (ii) Privately issued mortgage-backed securities, excluding the following: (A) Securities that represent a share of only the interest payments or only the principal payments from the underlying mortgage loans; (B) Securities that represent a subordinate interest in the cash flows from the underlying mortgage loans; (C) Securities that represent an interest in any residual payments from the underlying pool of mortgage loans; or (D) Such other high-risk securities as the FHFA in its discretion may determine. (2) (i) Mortgage-backed securities issued or guaranteed by Freddie Mac, Fannie Mae, Ginnie Mae, or any other agency of the United States Government; (ii) Mortgages or other loans, regardless of delinquency status, to the extent that the mortgage or loan is insured or guaranteed by the United States or any agency thereof, or otherwise is backed by the full faith and (iii) Securities backed by, or representing an equity interest in, mortgages or other loans referred to in paragraph (a)(2)(ii) of this section. (3) (4) (A) Such collateral has a readily ascertainable value, can be reliably discounted to account for liquidation and other risks, and can be liquidated in due course; and (B) The Bank can perfect a security interest in such collateral. (ii) Eligible other real estate-related collateral may include, but is not limited to: (A) Privately issued mortgage-backed securities not otherwise eligible under paragraph (a)(1)(ii) of this section; (B) Second mortgage loans

official document · source cfr-2024 · id 12:§ 1266.7