Code of Federal Regulations · Section

§ 320.8 — Excess Yield Securities

24 C.F.R. § 320.8

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(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.

24 C.F.R. § 320.7 24 C.F.R. § 320.9

Authorizing Statute

Management and liquidation functions of Government National Mortgage Association
12 U.S.C. § 1721
Administrative provisions
42 U.S.C. § 3535