SERIAL BOND Definition

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SERIAL BOND is a bond issue in which the bonds mature periodically over a number of years.

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FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) is a private corporation chartered by the U.S. Government to provide mortgage money for home buyers. FNMA buys mortgages from lenders and sells mortgages to investors. FNMA guarantees the timely payment of both interest and principal. Also known as "Fannie Mae".

MOTIVATION is the cause of the action, i.e. the reason that gives purpose and direction to behavior.

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