GNMA-II
GNMA-II Mortgage-backed securities (MBS) on which registered holders receive an aggregate principal and interest payment from a central paying agent on all of their certificates. Principal and interest payments are disbursed on the 20th day of the month. GNMA-II MBS are backed by multiple-issuer pools or custom pools (one issuer but different interest rates that may vary within one percentage point). Multiple-issuer pools are known as "Jumbos." Jumbo pools are generally longer and offer certain mortgages that are more geographically diverse than single-issuer pools. Jumbo pool mortgage interest rates may vary within one percentage point.
Source: http://www.saint-claire.org/resources/Dictionary-of-Financial-and-Business-Terms.pdf
Web site to visit: http://www.saint-claire.org and www.terra.com.br
Author of the text: R. de Paula Lico Júnior
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