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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CALL CENTER is the part of an organization that handles inbound/outbound communications with customers.

AUTHORITATIVE PRONOUNCEMENT is a formal declaration of opinion sanctioned by established authority.

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