What is an alternative-A loan?
Answer to relevant QuestionsWhat is an FHA-insured loan? What does a conditional prepayment rate of 8% mean? What is a mortgage pass-through security? What is meant by a derivative mortgage-backed security? Suppose that a PAC bond is created assuming prepayments speeds of 80 PSA and 350 PSA. If the collateral pays at 100 PSA over its life, what will this PAC tranche’s average life be?
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