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Simple English definitions for legal terms

pass-through security

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A quick definition of pass-through security:

A pass-through security is a type of investment that represents a share in a pool of assets, such as mortgages or loans. When people make payments on these assets, the money is passed through to the investors who own the pass-through security. This type of investment can be bought and sold on the stock market, and its value depends on the performance of the underlying assets.

A more thorough explanation:

A pass-through security is a type of security that represents a share in a pool of assets, such as mortgages or loans. The cash flows generated by these assets are passed through to the holders of the security, who receive a portion of the interest and principal payments.

For example, a mortgage-backed security is a type of pass-through security that represents a share in a pool of mortgages. The interest and principal payments made by the homeowners are passed through to the holders of the security, who receive a portion of these payments based on their ownership share.

Pass-through securities are popular with investors because they offer a steady stream of income and are often backed by collateral, which reduces the risk of default. However, they can also be complex and difficult to value, especially in times of economic uncertainty.

pass-through | past consideration

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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