Description: A mortgage lender called Home Loans Inc., originates 2 loans, X and Y. The loans have Principal amounts of $700,000 and $400,000, respectively and both have a term of 30 years, with a fixed interest rate of 5%. Home Loans Inc. securitizes these loans with Fannie Mae. Fannie Mae creates a pass-through Mortgage Backed Security (MBS) for the lender and charges a guarantee-fee (G-Fee) of 25 basis points / per annum to guaranty the credit risk on each of the loans. The loans are serviced by a mortgage servicer called Loan Services LLC, who charges a servicing fee of 35Bps/annum for each of the loans, X and Y. Home Loans Inc. sells the MBS to a fixed-income mutual fund run by an asset manager called MBS Asset Management LP. Please calculate the following. Net payment received by MBS Asset Management LP 's mutual fund for the first month, which purchased the MBS securitie