Industry WIKI

In the United States secondary mortgage market, the Constant Maturity Mortgage (CMM) rate is a financial index representing the theoretical yield of a par value agency residential mortgage-backed security (agency RMBS). Unlike the constant-maturity treasury (CMT) which reflects government borrowing costs, the CMM reflects the yield required by investors to transact agency RMBS (such as t

A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of secured short-term borrowing, usually, though not always, using government securities as collateral. A contracting party sells a security to a lender and, by agreement between the two parties, repurchases the security back shortly afterwards, at a slightly higher contracted price. The differe