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Finance Dictionary and Glossary of Investment Terms
Ginnie Mae pass-through
Definition 1.
A fixed-income security that represents an undivided interest in a pool of federally insured mortgages put together by Ginnie Mae. The investor in a Ginnie Mae pass-through receives both the principal and the interest from the pool of mortgages.
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Definition 2.
A security guaranteed by the Government National Mortgage Association that is backed by a collection of mortgages, in which the investor receives the interest and principal payments of participating homeowners.
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