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A mortgage pool is formed with mortgages with the following characteristics and assumptions: - Each morigage has a balance of $76825 - There are 75
A mortgage pool is formed with mortgages with the following characteristics and assumptions: - Each morigage has a balance of \$76825 - There are 75 mortgages in pool and all enter it at origination - Each mortgage has a 7% interest rate and are 10 year FRM with annual payments - Servicing and guarantee fee rate (total when adding both rates): 0.3% - No prepayment What is the servicing and guarantee fee payment in year 1 ? Write your answers into rounded cents. For example, If you get 1,421,333.321544, Write in 1421333.32
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