Active Tranche

A Collateralized Mortgage Obligations CMO tranche that is currently paying principal payments to investors.

REMARKS:
CMO - Collateralized Mortgage Obligations - also known as Real Estate Mortgage Investment Conduits (REMICs) - are one of the most innovative investment vehicles available today, offering regular payments, relative safety, and notable yield advantages over other fixed-income securities of comparable credit quality.

Z-Tranche: A special type of bond class in a sequential pay collateralized mortgage obligation. This class of bond does not receive any interest or principal payments until all other tranches have been completely paid off. In a Z-tranche, the interest that is not paid is accrued and added to the principal for future interest calculation purposes.