Mortgage Pass-Through Security -
Mortgage Pass-Through Security is a security created when one or more
of the mortgage holders form a collection pool of the mortgages and
sell the shares or participation certificates in the pool, a pass-through.
A mortgage pass-through security consists of a set of marketable shares
in a portfolio of mortgages for which investors received monthly payments
of both interest and principal. Normally the package secured by credit
insurance (PMI) so the investors are safe from the credit risks of the
individual mortgages in the portfolio. No protection provided against
the cash flow and return volatility associated with unanticipated principal
Black Tuesday - Black Tuesday took place on October 29 in the year 1929 and was probably the most famous stock market crash ever to be remembered in stock market history. On this day, the stock market's stocks lost 13 percent of their value and...