
investment grade securities backed by a pool of mortgages or trust deeds. Principal and interest payments on the underlying mortgages are used to pay semiannual interest and principal on the securities. Income from the principal and interest payments on the underlying mortgages are used to pay off the bonds.
Most mortgage-backed securities, such as
Industry Associations
Chicago Stock Exchange
Brokers and dealers in local and national securities. Wholly-owned subsidiaries: Midwest Securities Trust Company; Midwest Clearing Corp.; Mortgage Backed Securities Clearing Corporation. Provides an auction market for purchase and sale ...
Members: 446
Founded: 1882