Current through May 31, 2024
Section 320.8 - Excess Yield Securities(a)Definition. Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities.(b)GNMA guaranty. The Association guarantees the timely payment of interest as provided by the terms of the security.71 FR 32389, June 5, 2006