Base Offering Circular - Multifamily
482090
56
Standard
Abbreviation
Category of
Class
Definition
XAC
Index Allocation
Classes whose principal distribution allocations are based on the
value of an index.
INTEREST TYPES
ARB
Ascending Rate
Classes that have predetermined Interest Rates that increase changes
one or more times on dates determined before issuance.
DLY
Delay
Any class, other than a Fixed Rate Class, for which there is a delay
between the end of its Accrual Period and the related Distribution
Date.
DIF
Differential
Classes with Interest Rates that are equal to the difference between
two specified indices.
DRB
Descending Rate
Classes that have predetermined Interest Rates that decrease one or
more times on dates determined before issuance.
EXE
Excess
Classes that receive any principal and interest paid on the underlying
Ginnie Mae Multifamily Certificates in excess of the amount of the
prescribed principal and interest required to be paid on all Classes in
the Series. Excess Classes sometimes have specified principal
amounts but no specified Interest Rates.
FIX
Fixed Rate
Classes with Interest Rates that are fixed throughout the lives of the
Classes.
FLT
Floating Rate
Classes with Interest Rates that are reset periodically based on an
index and that vary directly with changes in the index.
INV
Inverse Floating
Rate
Classes with Interest Rates that are reset periodically based on an
index and that vary inversely with changes in the index.
IO
Interest Only
Classes that receive some or all of the interest payments made on the
underlying Ginnie Mae Multifamily Certificates and little or no
principal. Interest Only Classes have either a nominal or a notional
principal amount. A nominal principal amount represents actual
principal that will be paid on the Class. It is referred to as nominal
because it is extremely small compared to other Classes. A notional
principal amount is the amount used as a reference to calculate the
amount of interest due on an Interest Only Class that is not entitled to
any principal.
NPR
No Payment
Residual
Residual Classes that are designed to receive no distributions of
interest.
PO
Principal Only
Classes with a fixed interest rate of zero.