Explain in general terms how a protected amortization class CMO works.

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Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Question Posted: Sep 19, 2012 05:12 AM

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Explain in general terms how a protected amortization class (or PAC) CMO works.
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Explain in general terms how a protected amortization class CMO works.

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With a protected amortization class PAC CMO payments are made to one group of investors accordin...View the full answer

Fundamentals of Investments Valuation and Management

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