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Definition: MBS Pool Number
Issuer of a mortgage backed security assigns a number or alphanumeric character with it as an identifier. This number/alphanumeric character is known as Mbs pool number. This pool numbers are generally six digits long. To make the issues unique issuers like Ginnie Mae, Fannie Mae and Freddie Mac has chosen different alpha characteristics as initial digits of the pool number.
As the pool numbers can be easily quoted and helps to identify the issuer (as initial digit is unique to a particular issuer), traders use it frequently. One can also find out which issue is old and which security has just been issued from this number. Apart from this the number also signifies the level of dissatisfaction, pre-payment option.Trader also find it easier than CUSIP number
For Example, Fannie Mae’s 20 year pool number maybe X12345 whereas Freddie Mac’s same duration pool number maybe Y12345.