1. Consider the following pool of mortgages:

100 mortgages each with initial balance of $269513, interest rate 2.2%, issued for 30 years with monthly payments

80 mortgages each with initial balance of $288682, interest rate 3.0%, issued for 15 years with monthly payments

What is the Weighted Average Maturity for this pool at origination? Express your answer in months rounded to 2 decimal points (e.g. if your answer is 5.6744 months, write 5.67).

2. A mortgage pool is formed with mortgages with the following characteristics and assumptions:

Each mortgage has a balance of $143590

There are 82 mortgages in pool and all enter it at origination

Each mortgage in the pool has a 3% interest rate and are 10 year FRM with annual payments

No prepayment

No servicing or guarantee fee

What is the interest paid by the mortgage pool in year 1? (Note: this is the same as summing up all the interest payments of the mortgages in the pool) Write your answers into rounded cents. For example, if you get 1,421,333.321544, write in 1421333.32