SAFE HARBOR RULE Definition

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SAFE HARBOR RULE is a concept in statutes and regulations whereby a person who meets listed requirements will be preserved from adverse legal action. Frequently, safe harbors are used where a legal requirement is somewhat ambiguous and carries a risk of punishment for an unintended violation.

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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.

NON-FIXED INCOME refers to any income that is not fixed, e.g. wages, profits realized on the sale of assets and/or securities. See FIXED INCOME.

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