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I need this answered with work shown please. 4) Answer the below questions. (a) What is the role of a lockout in a CMO structure?

image text in transcribedI need this answered with work shown please.

4) Answer the below questions. (a) What is the role of a lockout in a CMO structure? (b) Explain why in a reverse PAC bond structure the longest average life bond can turn out to be effectively a support bond if all the support bonds in the structure are paid off. 4) Answer the below questions. (a) What is the role of a lockout in a CMO structure? (b) Explain why in a reverse PAC bond structure the longest average life bond can turn out to be effectively a support bond if all the support bonds in the structure are paid off

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