Guaranteed Mortgage Certificates (GMC)

Definition:

First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Terms of Delivery

The part of a sales contract that indicates the point at which title and risk of loss of merchandise pass from the seller to the buyer. See: Incoterms.

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!


Create your free portfolio