A jumbo pool is a mortgage-backed safety that is collateralized by multiple-issuer swimming pools of loans with similar characteristics. A Residential Mortgage Backed Security is just like a bond that pays out based mostly on funds from many particular person mortgages. As a response to the Great Depression of the 1930s, the government established the Federal Housing Administration to assist in the rehabilitation and development of residential houses. The company assisted in growing and standardizing the fixed-rate mortgage and popularizing its usage.