24 C.F.R. § 320.8 Excess Yield Securities.
Title 24 - Housing and Urban Development
(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]
Title 24: Housing and Urban Development
PART 320—GUARANTY OF MORTGAGE-BACKED SECURITIES
Subpart A—Pass-Through Type Securities
§ 320.8 Excess Yield Securities.
