FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Given the following information of the mortgage pool that backs a MPT, what is the regular scheduled payment in month 1 of the security? Use WAC as the mortgage rate and WAM as the number of periods for your calculations. Round your final answer to two decimals.
• 30 year FRM, fully amortizing, monthly payments
• Loans seasoned for 3 months before entering pool
• WAM: 357
• WAC: 4%
• Servicer/Guaran
• Prepayment assumption: 75% PSA
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