jumbo pool

Definition

A term that describes a Ginnie Mae II (GNMA-II) mortgage-backed security that is backed by multiple-issuer pools, rather than single-issuer or custom pools. Jumbo pools are typically longer lasting, and offer mortgages with greater geographic diversity than single-issuer pools, and are generally considered safer investments as a result. Interest rates on mortgages within jumbo pools may vary by up to one percentage point.
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jumbo mortgage jump