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Real Estate Encyclopedia | Property Law Dictionary | Real Estate Terms | Meanings & Definitions |      Aug 07, 2020

More New Real Estate Terms


The packaging of a number of existing securitized debt obligations into a new tradable security. Securitized debt obligations may be packaged together either as a collection of similar obligations (collateralized mortgage obligations (CMOs), real estate mortgage investment conduits (REMICs), or commercial mortgage-backed securities (CMBSs)), or in the form of a diversified or mixed class of obligations (credit card loans and mortgage loans). As a rule classes of assets or loans are kept together to assist risk assessment, but creating 'multisector' pools of structured assets in order to provide diversification has become more prevalent. A pool of securitized debts is generally referred to as a collateralized debt obligation (CDO), although a multisector securitized pool of debts is also a CDO. Nearly all forms of asset-backed securities (ABSs) and mortgaged-backed securities (MBSs) have found their way into resecuritized CDOs. See also mortgage-backed obligation/mortgage-backed security, securitization.

    Terms in bold are defined elsewhere in the Encyclopedia — more in the User Guide.

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