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Simple English definitions for legal terms

stripped mortgage-backed security

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A quick definition of stripped mortgage-backed security:

A stripped mortgage-backed security is a type of investment that is backed by a pool of mortgages. It is called "stripped" because it separates the interest payments from the principal payments, creating two separate securities. These securities can then be sold separately to investors. Essentially, it is a way for investors to invest in a pool of mortgages without having to buy the entire pool.

A more thorough explanation:

A stripped mortgage-backed security is a type of security that is created by separating the interest and principal payments of a mortgage-backed security into two separate securities. The interest payments are sold as one security, while the principal payments are sold as another security.

For example, let's say there is a mortgage-backed security that has a total value of $100,000. The interest payments on the mortgage are $5,000 per year, while the principal payments are $95,000. The issuer of the security can create two separate securities: one that pays the $5,000 in interest each year, and another that pays the $95,000 in principal when the mortgage is paid off.

The stripped mortgage-backed security allows investors to choose which type of payment they want to receive. Some investors may prefer the steady income from the interest payments, while others may prefer the lump sum payment of the principal when the mortgage is paid off.

Overall, the stripped mortgage-backed security is a way for investors to customize their investments based on their individual preferences.

strip | stripper well

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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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