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QUESTION 9 BOA originates 15 Fully Amortizing Fixed Rate non-recourse Mortgages, each has a $120 balance, 12% interest rate (no fees), 2-year term, and annual

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QUESTION 9 BOA originates 15 Fully Amortizing Fixed Rate non-recourse Mortgages, each has a $120 balance, 12% interest rate (no fees), 2-year term, and annual payments. BOA immediately issues IO and PO strips backed by the pool of these mortgages and sells them to investors who discount payoffs at 5%. What is the value of the mortgage pool, according to investors? 1240 1860 1980 2480 3660 QUESTION 10 What is the value of all IO strips

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