MORTGAGE-BACKED SECURITY is a security that returns principal and interest monthly as payments are received on the underlying mortgages. Mortgage-backed securities are made up of individual home mortgages guaranteed by the government and its agencies. The mortgages are packaged into pools by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corp. (FHLMC) or a nongovernment-affiliated entity. Unscheduled repayment of principal can shorten the maturity of the bonds.
PROFITABILITY RATIOS are measures of performance showing how much the firm is earning compared to its sales, assets or equity.
FOOT A COLUMN is to add a column of numbers. To test footing is to add the column again to check accuracy.
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