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We discussed the Pepper Loans $750 million residential mortage-backed security transaction (PRS 31) a) Explain how Pepper created the note classes from A1-s to G?

We discussed the Pepper Loans $750 million residential mortage-backed security transaction (PRS 31)

a) Explain how Pepper created the note classes from A1-s to G?

b) The G tranche has a coupon of N/A. Why? Also, explain the function of the tranche.

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