Asset-backed securities (ABS) * * * For the purpose of this subpart, ABS exclude mortgage-backed securities that are defined below.
Diversified investment fund (DIF) means an investment company registered under section 8 of the Investment Company Act of 1940.
Government-sponsored enterprise (GSE) means an entity established or chartered by the United States Government to serve public purposes specified by the United States Congress but whose debt obligations are not explicitly guaranteed by the full faith and credit of the United States Government.
Mortgage-backed securities (MBS) means securities that are either:
Pass-through securities or participation certificates that represent ownership of a fractional undivided interest in a specified pool of residential (excluding home equity loans), multifamily or commercial mortgages, or
A multiclass security (including collateralized mortgage obligations and real estate mortgage investment conduits) that is backed by a pool of residential, multifamily or commercial real estate mortgages, pass through MBS, or other multiclass MBS.
This definition does not include agricultural mortgage-backed securities guaranteed by Farmer Mac itself.
U.S. Government agency means an instrumentality of the U.S. Government whose obligations are fully guaranteed as to the payment of principal and interest by the full faith and credit of the U.S. Government.
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