Strip mortgage participation certificate (strip PC)

Definition:

Ownership interests in specified mortgages purchased by Freddie Mac from a single seller in exchange for separate instruments representing interests in the same mortgages.

Investing Essentials


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

Term of the Day

Reopen an issue

The Treasury, when it wants to sell additional securities, will occasionally sell more of an existing issue (reopen it) rather than offer a new issue.

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