Freddie Mac REMIC tranches are denoted by a one or two letter convention. Do they have any particular significance or meaning?
Letters used for naming REMIC classes do not have any particular meaning except for classes that use double letters (e.g., LL) or three letters including a double letter combination (e.g., DAA), which represent retail classes that may have many different characteristics than other classes. REMIC classes beginning with the letter “R” (e.g., R or RS) represent residuals. REMIC classes with the letter “Z” generally represent accrual classes.
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