A mortgage-backed security that has only a subordinate claim to principal payments is referred to as which type of bond?

Name: A mortgage-backed security that has only a subordinate claim to principal payments is referred to as which type of bond?
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PAC support bonds are a type of mortgage-backed security that have a subordinate claim to principal payments, meaning they receive principal payments only after other tranches, such as PAC (Planned Amortization Class) bonds, have been paid.

A Mortgage-Backed Security That Has Only a Subordinate Claim to Principal