FLOATING-RATE CMO Definition

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FLOATING-RATE CMO is a collateralized mortgage obligation with a variable interest rate, usually reset quarterly, and set at a basis point spread over LIBOR. Also known as: Continuously Offered Long-Term Securities (COLTS), Floating Interest Rate Short-Term Securities (FIRSTS), Home Owner Mortgage Eurosecurities (HOMES), Option to Purchase or Sell Specific Mortgage-Backed Securities (OPOSSMS).

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EFTS is Electronic Fund Transfer System.

CONTRACTUAL ALLOWANCE, in healthcare, is the difference between what hospitals bill and what they receive in payment from third party payers, most commonly government programs; also known as contractual adjustment.

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