What is the difference between a prime loan and a subprime loan?
Answer to relevant QuestionsHow are FICO scores used in classifying loans? On October 1, 2005, Fannie Mae issued a mortgage pass-through security and the prospectus supplement stated the following: FANNIE MAE MORTGAGE-BACKED SECURITIES PROGRAM SUPPLEMENT TO PROSPECTUS DATED JULY 01, ...Answer the below questions. (a) What factor can be used as a proxy for cash-out refinancing incentives? (b) Why are prepayments attributable to cash-out refinancing likely to be insensitive to changes in mortgage rates? What are the two types of private–label MBS? What was the motivation for the creation of PAC bonds?
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