ASSET BACKED SECURITY is a debt instrument collateralized by credit card receivables, auto loans or other assets and securitized by a bank or financial institution. To reduce the possibility of a disruption in principal and interest payments, the cash flow from these assets is enhanced by a variety of methods including letter of credit support, insurance, overcollateralization and excess interest.
CMO see COLLATERALIZED MORTGAGE OBLIGATION.
USP is Unit Sales Price, Unique Selling Proposition, Unique Selling Point, or Usage Sensitive Pricing.
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