fnctId=bbs,fnctNo=62 All 말머리 분류 All MBS MBS&MBB(Covered Bond) payment plan Credit rating disclosure Issuance details MBB Basic terms Underlying assets and securities repayment Basic asset repayment details Delinquency rate of underlying assets Underlying assets details CLC Data US MBS 게시글 리스트 용어 목록. 번호, 용어로 구성 No. Term 40 GSE 39 CLP 38 CLC 37 Housing bond 36 3-month CPR 35 1-month SMM 34 Prior redemption amount of the month 33 Prior redemption rate of the month 32 Overdue loan balance 31 Delinquency rate 30 Interest repayment amount 29 Prior redemption rate 28 Call option exercise amount 27 Coupon bond 26 Coupon rate 25 Jeokgyeok Loan 24 Didimdol Loan 23 u- Bogeumjari Loan 22 t-Bogeumjari Loan (tPlus Bogeumjari Loan) 21 Private placement 20 Public offering 19 Listing 18 Credit enhancement 17 Subordinated 16 Senior 15 (sf) 14 BB(sf) 13 AAA(sf) 12 Advanced repayment date 11 Tranche 10 Issue no. 9 Securities standard code 8 Call option 7 Right of recourse 6 Covered bond 5 BIS ratio 4 Self-trust 3 Trust 2 MBS payment guarantee 1 Beneficiary certificate Explanation Government-Sponsored Enterprise Explanation Collateral Loan Performance Explanation Collateral Loan Characteristics Explanation A financial institution loans housing fund to a home buyer, and acquires the bond with a mortgage as collateral. Explanation Constant Prepayment Rate: Annual prepayment rate based on the last 3-month SMM Explanation Single Monthly Mortality rate: Simple monthly prepayment rate Explanation The amount of the principal repaid before due Explanation Prior redemption amount of the month / Loan balance at the end of the previous month Explanation (1) Before ‘06.12.31: Total unpaid capital and interest overdue less than 1 month + Total overdue balance over 1 month (2) After ‘07.01.31: Total overdue balance over 1 month Explanation Total overdue loan balance / Loan balance of the month Explanation Disclosure of Pass-through MBS only. Sum of interest, delay damages and interim repayment fee Explanation Redemption before maturity during a month/Loan balance at the end of the previous month Explanation Total amount of securities * Call option exercise rate Explanation The most common type of bond which is issued at the face value and for which annual interest is paid according to the coupon rate at regular intervals. It is called a coupon bond since coupons are attached to the bond’s face. Interest is paid for the coupon detached on the payment date. Explanation A coupon rate is the annual interest rate for the face value of a bond, which is indicated on the surface of the bond. Because it is a subject to withholding tax, the lower coupon rate of a bond is favorable. Explanation Mortgage loan products of financial companies, which are handled in accordance with the acquisition criteria of HF on the on the premise of securitization. Explanation Policy mortgage was divided into the first-time home buyers loan of Housing and Urban Fund and Bogeumjari Loan of HF. In 2014, these two loans were merged into a fixed rate long-term installment repayment mortgage loan. Users can choose between a fixed rate or a 5-year variable rate for Didimdol Loan. Explanation A fixed rate long-term installment repayment mortgage designed for the user to pay back the installments over 10~30 years. For U-Bogeumjari Loan, the entire process of mortgage load including marketing is conducted under the initiative of HF, except for mortgage settlement and loan execution. HF examines eligibility of applicants and manages bonds. Explanation A fixed rate long-term installment repayment mortgage designed for the user to pay back the installments over 10~30 years. Unlike U-Bogeumjari Loan, the applicant must apply for a load in person at the bank. Explanation The issuer can issue securities through individual negotiations with less than 50 investors. Explanation One of the ways to publicize securities is to invite 50 or more people to apply for acquisition of ‘new’ securities. Explanation Designation of items to be sold and bought on the stock exchange. If stocks are traded on the stock exchange, the issuing company can enjoy increased social appraisal, and can easily increase capital or issue bonds. Issuer of securities requests listing on the stock exchange, and the stock exchange screens companies to be listed according to the standard listing criteria for public confidence. Explanation The process of enhancing credit through guarantee insurance or excess collateral if the value of the asset is unclear or the asset holder has low credit rating. Credit enhancement is provided to protect the interests of investors in asset backed securities if the value of the securitized asset (collateral asset) falls in the course of issuance of the asset-backed securities. Explanation Corporate bonds issued on credit of the issuer only without collateral. These bonds have the lowest repayment order in case of insolvency or bankruptcy of the issuer. Explanation The bonds that can be recovered prior to other bonds on collateral. Explanation For assessment of structured financing, “(sf)” is added after the rating symbol. Explanation There is no problem in certainty of payment of principal and interest, but there are speculative elements in terms of future stability. Explanation Certainty of payment of principal and interest is at the highest level, and is stable enough that it is not affected by any future change of environment that is reasonably foreseeable at this stage. Explanation The date on which the principal is to be paid in advance of the due date. Explanation A financial institution may pool individual loans, and based on which, re-issue a bond (tranche). E.g., MBS2010-01-1-8, MBS2017-24-1-3 Explanation "MBS" "20○○ : Year" - "○○ : Issue no." e.g., MBS 2016-23 Explanation The securities standard code is the standardized code for securities consisting of alphabets and numbers assigned by NNA (National Numbering Agency) in accordance with ISIN (International Securities Identification Number). According to “ISO 6166” established and recommended by ISO, Korea enacted the securities code in 1993, and Korea Stock Exchange, as a code assigning institution, began to assign the securities standard codes. The standard code number of a stock consists of 12 digits, including 2 digits of country code (KR), 1 digit code number indicating the properties of the stock (share, government bond, local bond, etc.), 5 digit code number of the corresponding item, 3 digits indicating the type of stock (common, preferred, new, etc.), and 1 digit of inspection number. If you enter the 5 digits of the item number, you can find the price of the item. (e.g., KR3544087017). Explanation The right to buy underlying assets at maturity or at a striking price predetermined before maturity. Explanation The right to seek reimbursement from endorsers or the issuer if payment of a bill or check is refused. If a bill or check is returned, the holder of the bill or check may immediately exercise its right of recourse to claim compensation from the issuer or endorsers. Explanation A type of secured bond issued with outstanding assets (mortgages, government bonds) owned by a financial institution as the security. The investor has the right of recourse against the issuer of the covered bond, and the preferred right for the pledged asset if the issuer goes bankrupt. It is similar to ABS (Asset Backed Securities) issued with loan asset as a security or MBS (Mortgage Backed Securities) issued with mortgage as a security, but this financial product imposes repayment obligation to the issuing financial institution for increased stability. Therefore, even if the issuing bank goes bankrupt, investors are given the right to be reimbursed for their secured assets preferentially, and they are generally given a high credit rating, which has the advantage of lower funding rate (cost). It is also called a dual recourse bond. Explanation The risky asset to equity ratio of a bank set by BIS (Bank for International Settlements). BIS requires a minimum BIS ratio of 8%. Explanation The trust established by the truster declaring that he/she as a trustee owns his/her or a third party’s property, and manages or disposes of it for the beneficiary. Explanation The legal relationship in which the truster transfers or disposes of certain property rights to the trustee, and the trustee manages/disposes the property rights for the benefit of the beneficiary or a particular purpose. Explanation Payment of principal and dividend income to MBS investors is guaranteed for up to 50 times of the equity capital. Explanation A security that indicates the beneficiary right in a trust contract. In case of trusting the operation of property to others, the beneficiary certificate indicates the right to receive profits.