Explain how the following CMOs are constructed and their features: a. Sequential-pay tranche b. Sequential-pay tranches with
Question:
Explain how the following CMOs are constructed and their features:
a. Sequential-pay tranche
b. Sequential-pay tranches with an accrual bond tranche
c. Floating-rate and inverse floating-rate tranches
d. Notional IO tranche
e. PAC and support bonds
f. Sequential-pay PAC
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