Series 24: Collateralized Mortgage Obligations (CMOs)

Taken from our Series 24 Online Guide

Collateralized Mortgage Obligations (CMOs)

CMOs are highly risky debt instruments backed by a pool of mortgage pass-through securities or mortgage loans. All retail communications and correspondence concerning CMOs:

1. must include in the name of the offered product the term “Collateralized Mortgage Obligation”
2. may not compare CMOs to any other investment vehicle
3. must disclose that a government agency backing applies only to th

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