Question
Holding all else equal, what would you expect to happen to the AAA subordination on a nonagency MBS deal if there are fewer loans in
Holding all else equal, what would you expect to happen to the AAA subordination on a nonagency MBS deal if there are fewer loans in the deal? Why? How does this explain differences in credit ratings for SASB versus conduit CMBS deals?
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International Finance Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
10th edition
978-0133425895, 133425894, 978-0133423631, 133423638, 978-0133423648
