Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this subpart, the following definitions will apply: (1) Pass-through securities or participation certificates that represent ownership of a fractional undivided interest in a specified pool of residential (excluding home equity loans), multifamily or commercial mortgages, or (2) A multiclass security (including collateralized mortgage obligations and real estate mortgage investment conduits) that is backed by a pool of residential, multifamily or commercial real estate mortgages, pass through MBS, or other multiclass MBS. (3) This definition does not include agricultural mortgage-backed securities guaranteed by Farmer Mac itself. (1) “Qualified loans” as defined in section 8.0(9) of the Farm Credit Act of 1971, as amended; or (2) Securities collateralized by “qualified loans.”

official document · source cfr-2024 · id 12:§ 652.5