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  • Publication Name: New Braunfels Herald Zeitung
  • Location: New Braunfels, Texas
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View Sample Pages : New Braunfels Herald Zeitung, July 08, 1987

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New Braunfels Herald Zeitung (Newspaper) - July 8, 1987, New Braunfels, Texas Page 6    Herald-Zeifung    New    Braunfels    Texas BodyShapers Wednesday July 8. 1987 Mortgage-backed securities Shape Appeal otters a waist table vibrator table • y ? hi*-* hit. table, waist trimmer table sit it: * ami leg table for ;i complete work out ■ *\ppr i s pi et Monday through friday from 8 Business briefs Ptisslw CHEVY SHOWROOM ACTION! Chevrolet’s SUMMER RATES OR REBATE PROGRAM Buy ( right 1987, SPEC 5.9 )t th :h t new Chevys ivery by A followina 1987 Ce imaro 1987 Spectrum 1987 Cc ilebrity 1987 Nova CC OO ivalier 1988 Corsica 1987 S 10 Pickups Ft Blazers (Reb ates aud Specials Rates) 1988 Beretta I Mus,,3kl I CaJ co OC OR Get $1 OOO. CASH BACK REBATE) on I the 1987 CA MA FTO Get $50* *1 f * /% t£5 LJ Q A f * I/ I J. UAonDAufx (REBATE ) on any of the otT listed!! ier Chevys BESE CHEVY NEWCOMERS ARE INCLUDED IN THE PROGRAM. CORSICA the SDOrtV fpati .ortv compact sedan with many highly styled plenty of leg room for hack seat riders " ii BFR! r TA the Aready p t tar ? door, sporting sophisticated styhr , d ^fictive da Aboard tavern handle doors on the body p Jar, and upswept rear with large tail lights. J KRUEGER *86 W San Antonio St., New Braunfels 625 3451 From Canyon Lake direct 964 3451 Fe rn San Antonio direct 658 7051 open door to mortgage market W W Williams locates SA branch Tin VV VV Williams Company of Co Lim bus Ohio, has just established :t> Williams Southwest subsidiary rn leased quarters at 151*03 Tradesman Drive Williams Southwest will allice i 12,000 ^quare-foot building uid uh adjoining I1--’ a< re-* tract as its South Texas heavy equipment sales. service and distribution center Shamrock takes checks \s part * its commitment to adorner service. Diamond Shamrock is now taking he ks a! its HU < imparn-operated stations in I exas and louisiana Most people understand that the concept of mortages from the borrowing side, but it's important also to know about mortgages as an investment. In the ‘70s the first of many new types of investments were created giving individual investors the opportunity to participate in the relatively high yield of home mortgages. The ‘80s have seen an explosion of additional securities to capitalize on the growth and further development of the mortgage market. Mortgage-backed securities, the fastest growing segment of the fixed-income marketplace, currently encompasses about $550 billion or about one-third of all existing residential mortgages. That is one of the main reasons for MBS's popularity: a large, and very active secondary market that enhances the liquidity of the investment. Another feature of MBS is their high yield; they typically earn as much as 1.5 percent more than treasury bonds with comparable maturities. This is because all mortgage-backed securities carry a prepayment stipulation:    If homeowners pay back their mortgages early, the MBS will be redeemed by the issuer early As an investor, you are compensated with higher yields for this uncertainty of early redemption Mortgage-backed securities are among the safest of all investments. They are triple “A" rated, or are guaranteed by the federal government or government-chartered organizations. The main attraction for most investors. however, is their flexibility These securities come in several varieties pass-throughs, builder bonds and collateralized mortgage obligations - that are likely to fit the investment strategies of any investor — Pass-throughs, as their name implies, let homeowners monthly payments of interest and principal be passed through" to investors You've probably heard of them by their nicknames Gmnie Mae. Fannie Mae and Freddie Mac These names come from the major issuers of pass-throughs GNMA Government National Mortgage Association . FNMA Federal National Mortgage Association* and FU LM A (Federal Home Loan Mortgage Association). Monthly cash fiow is one of the additional benefits of pass-throughs. You can invest in these certificates by directly purchasing a share of a specific mortgage pool, or through shares in a specialized mutual fund or unit trust, often for as little as $1,000. — Builder bonds, issued by a number of the nation’s largest home builders, are collateralized by GNMA and FNMA certificates. Consequently, they enjoy a triple “A” credit rating from Standard & Poor’s. I SAVE The bonds make monthly payments to investors based on interest payments only. This provides a more reliable source of monthly income than pass-throughs. — Collaterized mortgage obligations (CMO) are multi-class securities with eash class having its own interest rate and maturity Investors can select CMOs with maturities ranging from just one year to more than twenty years to meet either income or growth objectives. 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