FANNIE MAE Definition

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FANNIE MAE (FNMA) see FEDERAL NATIONAL MORTGAGE ASSOCIATION.

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CUT-OFF RATE is the predetermined maximum rate and/or minimum rate at which the subject is still acceptable, but where a rate above the proscribed higher or below the proscribed lower rate is no longer acceptable.

TIGHT MARKET is a market in which the spread, or dif­ference, between the bid and asked price of a security is extremely small. It is usually an indication that there is an abundant supply of the security and it is being actively traded. See THIN MARKET.

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