1. Consider the mortgage pass-through example presented in Table 273 . The total monthly payment by the...
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1. Consider the mortgage pass-through example presented in Table 27–3 . The total monthly payment by the borrowers reflecting a 12 percent mortgage rate is $1,028,610. The payment passed through to the ultimate investors reflecting an 11.5 percent return is $990,291. Who receives the difference between these two payments? How are the shares determined?
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Financial Institutions Management A Risk Management Approach
ISBN: 9780077211332
6th Edition
Authors: Anthony Saunders, Marcia Cornett
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