Question: A CMO has been issued with 3 tranches and a residual. At origination: - Tranche A investors own $2 thousand of principal with a coupon

A CMO has been issued with 3 tranches and a residual. At origination:

- Tranche A investors own $2 thousand of principal with a coupon rate of 3.50%.

- Tranche B investors own $19 thousand of principal with a coupon rate of 3.70%.

- Tranche Z investors own $15 thousand of principal with a coupon rate of 4.50%.

- The residual carries $1 thousand of principal and receives all residual payments.

Mortgages backing the security issued are fully amortizing fixed rate with mortgage rate of 4.50% with 30 year maturities and monthly payments. Assume no servicing/guarantee fee and no prepayments. Remember, the sum of tranches' principal is the total principal (balance) principal owed by the mortgage pool.

What is the mortgage pool's starting balance at origination? Round your answers to cents (e.g. if your answer is $5600.0444, write 5600.04).

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