§ 320.8 Excess Yield Securities.
Current through Aug 20, 2026 · Read all of Part 320
(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]