---
kind: "section"
citation: "24 C.F.R. § 320.8"
title: "24"
number: "320.8"
heading: "Excess Yield Securities."
url: "https://uscodex.org/cfr/24/320.8"
---

# §320.8. Excess Yield Securities.

- (a) **Definition.** Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities.
- (b) **GNMA guaranty.** The Association guarantees the timely payment of interest as provided by the terms of the security.

## Notes

### Amendments

[71 FR 32389, June 5, 2006]

### Authority

Authority: 12 U.S.C. 1721(g) and 1723a(a); and 42 U.S.C. 3535(d).

### Source

Source: 60 FR 42015, Aug. 14, 1995, unless otherwise noted.

### Amendments

[71 FR 32389, June 5, 2006]