CMO RESIDUAL Definition

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 CMO RESIDUAL is the residual is the cash flow remaining on each payment date after all payments on the CMO tranches have been made. The primary source of the residual is cash generated by the collateral that is greater than the payments due on the CMO tranches.

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REGISTERED BONDS are bonds for which the names and addresses of the bondholders are kept on file by the issuing company.

APR is Annual Percentage Rate, i.e. the true interest rate charged on a loan.

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