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Question 18 Problem set of 2 questions worth 1 mark each New Bank has a mortgage pool with principal of $12 million. The maturity of
Question 18 Problem set of 2 questions worth 1 mark each New Bank has a mortgage pool with principal of $12 million. The maturity of these mortgages is 15 years with monthly mortgage payments and interest rate of 11 per cent per annum. (Assume no prepayments.) If the mortgage-backed security insurance fee is 60 basis points and the servicing fee is 60 basis points, what is the monthly payment on the pass-through security issued from this pool of mortgages? O $158,350.31 O $160,924.52 O $129,489.68 O $127,488.34 Question 19 Problem set of 2 questions worth 1 mark each New Bank has a mortgage pool with principal of $12 million. The maturity of these mortgages is 15 years with monthly mortgage payments and an interest rate of 11 per cent per annum. (Assume no prepayments.) What is the monthly mortgage payment (100 per cent amortising) on the pool of mortgages? O $165,236.25 O $136,798.75 O $133,004.33 O $136,391.63
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