COLLATERALIZED MORTGAGE OBLIGATION - CMO
Mortgage-backed security where principal repayments are organized based on its maturities and grouped into classes according to its risk profile. Serving as collateral, this special purpose entity can eliminate the risks connected to repayment since every security is divided into maturity classes paid off in order. Therefore, CMOs yield less than other types of mortgaged-backed securities. Income received from these is given to investors according to a preset rules, and investors receive money based on the tranche.
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Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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