One of the financial terms you might have heard recently is this one: mortgage pool. This term is being seen more as mortgage backed securities continue to make headlines, thanks to IndyMac, Fannie Mae, Freddie Mac and investment bank issues. Investopedia offers this definition of mortgage pool:
A group of mortgages held in trust as collateral for the issuance of a mortgage-backed security. Some mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae are known as "pools" themselves. These are the simplest form of mortgage-backed security.
image credit: US government
Also disconcerting: the fact that the provision was inserted into the bill without any floor debate. No one has scrutinized this or put up a fight.
Posted by: 花蓮民宿 | August 5, 2009 9:27 AM | Permalink to Comment