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A 1 percent owner of a pass-through mortgage security issue is entitled to a 1 percent share of the principal and interest payments made over

A 1 percent owner of a pass-through mortgage security issue is entitled to a 1 percent share of the principal and interest payments made over the life of the mortgages underlying the pool of securities. The originating financial institutions or a third party servicer receives principal and interest payments from the mortgage holder and passes these payments through to the pass-through security holders.

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