Answer the below questions. (a) What is the role of a lockout in a CMO structure? (b)
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(a) What is the role of a lockout in a CMO structure?
(b) Explain why in a reverse PAC bond structure the longest average life bond can turn out to be effectively a support bond if all the support bonds in the structure are paid off.
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a The role of a lockout in a CMO structure is to provide greater prepayment protection to all PAC bo...View the full answer
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Saud Ur Rehman
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