Mark Berch:Sallie Mae

Private Export Funding Corporation (PEFCO)
Company that mobilizes private capital for financing the export of big-ticket items by US firms by purchasing at fixed interest rates the medium- to long-termdebtobligations of importers of US products.

Common stock ratios
Ratios that are designed to measure the relative claims of stockholders to earnings (cash flow per share), and equity ( book value per share) of a firm.

Mortgage pass-through security
Also called a passthrough, a security created when one or more mortgage holders form a collection (pool) of mortgages and sells shares or participation certificates in the pool. The cash flow from the collateral pool is "passed through" to the security holder as monthly payments of principal, interest, and prepayments. This is the predominant type of MBS traded in the secondary market.

Mark Berch:Documentary collections
Trade transactions handled on a draft basis.

Listing broker
In the context of equity, when a stock is traded in exchange it is said to be listed. A licensed real estatebroker who completes a listing of a property for sale.

Step aside
Allow a block to trade at a price at which you do not care to participate in the trade. Mark Berch

Commission house
A firm that buys and sells futures contracts for customer accounts. Related: futures commission merchant, omnibus account.