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2. Compare and contrast the three major types of mortgage backed securities: 1. Pass Through Security 2. Collateralized Mortgage Obligation or CMO 3. Mortgage Backed
2. Compare and contrast the three major types of mortgage backed securities: 1. Pass Through Security 2. Collateralized Mortgage Obligation or CMO 3. Mortgage Backed Bond How are they created/originated, where are they traded (primary or secondary markets), where do the principal and interest payments come from and how are they distributed to investors, and explain any guarantees-implied or explicit.
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