Collateralized Mortgage Obligation
A collateralized mortgage obligation is a multi-class mortgage security that reallocates principal and interest among tranches with different cash-flow timing.
Mortgage securitization terms for loan pools, pooling, multiple-issuer pools, CMOs, Z-bonds, REMICs, and tranche cash-flow analysis.
Mortgage Pools, CMOs, and REMICs covers mortgage-pool formation, collateral metrics, multi-class payment structures, accrual tranches, tax vehicles, and investor cash-flow analysis. Use this branch to distinguish the pooling process, underlying collateral, issuing or tax structure, and investor tranche.
Use these pages when mortgage loans are pooled, guaranteed, traded, securitized, or analyzed from an investor perspective. It sits inside Mortgage-Backed Securities and Pools, so readers can move up when the broader property-finance context matters.
Use the table below to choose the narrower mortgage or real-estate finance branch before applying a term to a loan file, closing record, servicing review, investor report, appraisal, or valuation model. Move into the term page when the document, calculation, party role, lien position, or property cash flow matters.
| Area | Use it for |
|---|---|
| Collateralized Mortgage Obligation | Multi-class mortgage security that redistributes principal, interest, prepayment, and extension exposure among tranches. |
| Z-Bond | CMO accrual tranche that defers cash while interest adds to principal and earlier classes receive priority. |
| Mortgage Pool | Defined loan collection and its WAC, factor, age, term, geography, borrower, and performance metrics. |
| Mortgage Pooling | Loan eligibility, selection, transfer, documentation, cutoff, and final collateral formation. |
| Multiple-Issuer Mortgage Pool | Mortgage pool containing loan packages contributed and serviced by more than one issuer. |
| Real Estate Mortgage Investment Conduit (REMIC) | U.S. tax election for a qualifying fixed mortgage pool with regular and residual interests. |
Mortgage-securities content is educational and does not provide investment, trading, tax, legal, or securities advice.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
A collateralized mortgage obligation is a multi-class mortgage security that reallocates principal and interest among tranches with different cash-flow timing.
A mortgage pool is a defined collection of mortgage loans assembled for securitization, guarantee, servicing, or investor cash-flow analysis.
Mortgage pooling is the process of selecting and combining eligible mortgage loans for securitization, guarantee, servicing, or structured funding.
A multiple-issuer mortgage pool combines loan packages from more than one issuer into one mortgage-backed security collateral pool.
A REMIC is a U.S. federal tax election for a qualifying fixed pool of mortgages with regular interests and one residual-interest class.
A Z-bond is a CMO accrual tranche that receives no current cash while interest compounds into principal and earlier tranches are paid down.