抵押贷款担保证券的中文解释

英文Collateralized Mortgage Obligations的缩写，指以物业按揭(房地产抵押贷款)为抵押品而发行的证券。按揭贷款的现金流及期限差异很大，如果将其分类集中以便发行CMO，即可计算整体现金流及按计划支付利息。

CMO的英文解释

A security sold to investors with collateral based on property mortgages. Cash flows from mortgages, and their maturity dates, vary widely. If they are pooled and CMOs are issued against their collective value, it becomes possible to calculate an overall cash flow and to make predictable payments of interest.

• security [si´kjuəriti]   n.安全；证券；抵押品   (初中英语单词)
• mortgage [´mɔ:gidʒ]   a.&vt.抵押   (高中英语单词)
• maturity [mə´tjuəriti]   n.成熟；完备   (英语四级单词)
• collective [kə´lektiv]   a.集体的 n.集体   (英语六级单词)