Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Illustrates cash flow patterns that are important when evaluating mortgage
pass-through securities?
Expert Solution
Step 1
Mortgage pass-through securities
Security is formed when an individual or number of mortgage holders create a mortgage pool and such a mortgage pool certificate or proportion is sold. The generation of cash flow through such pool is passed to the holder of the security as monthly payment by way of principal as well as an interest or by way of making a prepayment
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