QUOTATION Definition

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QUOTATION, dependent upon usage, is a. a statement of the current market price of a security or commodity; or, b. an offer to sell goods at a stated price and under specified conditions.

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AGENCIES is securities issued by various agencies of the U.S. Government, such as the Federal National Mortgage Association.

PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

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