ORIGINAL FACE Definition

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ORIGINAL FACE is the the face value (original principal amount) of a security, generally a mortgage- or asset­-backed security, as of its issue date.

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GOLD PC is a mortgage pool program offered by the Federal Home Loan Mortgage Corporation (FHLMC) that reduces the delay in payments from 45 days to 15 days and broadens its guarantee to include the timely payment of principal.

ON ACCOUNT is a partial payment made towards satisfaction of a debt.

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