Agency MBS Deal
Agency MBS Deal. An issue of securities backed by pools of mortgages held by government agencies.
These are Ginnie Mae, Freddie Mac and Fannie Mae (for the US). Of these agencies, GNMA (Ginnie Mae) issues mortgages in its own right (Investorwords differs on this). Fannie Mae and Freddie Mac purchase mortgages. Those mortgages are issued by banks. Before one of these agencies purchases a mortgage, there are certain criteria that have to be met. These are specified in terms of, for example, the balance of the mortgage, limits to credit ratings.
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