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The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

term:

Stripped Mbs (Smbs)

stripped mbs (smbs)

securities created by "stripping" or separating the principal and interest payments from the underlying pool of mortgages into two classes of securities, with each receiving a different proportion of the principal and interest payments.



Source: U.S. Department of Housing and Urban Development

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