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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DEBENTURE is a corporate IOU that is not backed by the companys assets (unsecured) and is therefore somewhat riskier than a bond.

ASSET AVAILABILITY is the stated condition or availability of an asset for usability. The subject asset is not available if it is already in use, at capacity, undergoing maintenance, broken, etc.

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