Jumbo Pool

Jumbo Pool
A pass-through Ginnie Mae II mortgage-backed security that is collateralized by multiple-issuer pools. These pools combine loans with similar characteristics and are generally larger than single-issuer pools. The mortgages contained in jumbo pools are more diverse on a geographical basis than single-issuer pools.

Registered holders of Ginnie Mae II securities receive aggregate principal and interest payments from a central paying agent. Interest rates on mortgage loans contained within jumbo pools may vary within one percentage point. Because these pools are backed by multiple issuers, they are typically considered a safer form of mortgage-backed security investment.

Investment dictionary. . 2012.

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