BANK Definition

BANK is a financial entity that is licensed by a government to receive monetary deposits: commercial/retail banks and investment banks. In most countries, banks are regulated by a national government or central bank.

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WHOLE LOAN is a mortgage pass-through or CMO backed by non-agency, single-family home mortgages.

CURRENT FACE, in securities, is the current monthly remaining principal of a certificate computed by multiplying the original face value of the certificate by the current principal balance factor.

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