1.   And the business has feasted for several years by transforming the simple pass-through bonds into far more complex securities known as collateralized mortgage obligations.

2.   At Salomon, Parseghian headed trading of collateralized mortgage obligations, the custom-made bonds cut from bundles of home mortgages.

3.   Known as collateralized mortgage obligations, or CMOs, they are bond-like securities created by carving out various cash flows from a pool of traditional mortgages.

4.   Korzelius will trade collateralized mortgage obligations issued by government-sponsored enterprises, such as the Federal National Mortgage Association.

5.   Kazdin said the plan may depress prices of the floating-rate collateralized mortgage obligations when thrifts value them at the end of the June reporting period.

6.   Meanwhile, the shortage of collateralized mortgage obligations -- custom-made mortgage securities cut from bundles of home mortgages -- has inflated prices, traders and investors said.

7.   Most recently, he was in charge of trading the more complex sort of mortgage bonds known as collateralized mortgage obligations.

8.   Still, demand from Wall Street securities firms creating new collateralized mortgage obligations may prevent yield spreads from widening much, say traders.

9.   Still, demand from Wall Street securities firms trying to create new collateralized mortgage obligations may prevent yield spreads from widening much, say traders.

10.   Still, demand from Wall Street securities firms creating new collateralized mortgage obligations, custom-made mortgage bonds, may prevent yield spreads from widening much, say traders.