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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.

 
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 Related Terms
 Gnma
Gnma i
Gnma midget
Gnma pass through certificate
Government national mortgage association gnma or ginnie mae
Levels i, ii and iii
Modigliani and miller proposition ii

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