Consider a GNMA mortgage pool with principal of $24 million. The maturity is 30 years with a monthly mortgage payment of 10 percent per year. Assume no prepayments.

a.What is the monthly mortgage payment (100 percent amortizing) on the pool of mortgages?(Round your answer to 2 decimal places.)

b.If the GNMA insurance fee is 9 basis points and the servicing fee is 41 basis points, what is the yield on the GNMA pass-through?( Round your answer to 5 decimal places.)

c.What is the monthly payment on the GNMA in part (b)?(Round your answer to 2 decimal places.)

d.Calculate the first monthly servicing fee paid to the originating FIs.(Round your answer to the nearest dollar amount.)

e.Calculate the first monthly insurance fee paid to GNMA.(Round your answer to the nearest dollar amount.)