What is meant by a derivative mortgage-backed security?
What will be an ideal response?
A derivative is a financial contract or instrument that derives its value from an underlying asset. Thus, by a derivative mortgage-backed security we mean a security that is created and that derives its value from an underlying mortgage asset. In terms of the agency MBS market, an agency collateralized mortgage obligation (CMO) and an agency stripped MBS are derivatives because they derive their value from agency mortgage pass-through securities.
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Jillian Harmon supervises 5 cashiers at Jack's Market. In the past, each cashier served an average of 25 customers per hour. Two months ago, management remodeled the store and installed a new cash register system. Customers no longer need to take their groceries out of the basket. Last month the number of customers served was 5,185 and each cashier worked an average of 170 hours for the month
Based on this information, the service rate has a. increased 19 percent. b. decreased 21 percent. c. increased 22 percent. d. decreased 20 percent.
A country may issue to foreign citizens visas that permit them to enter the country for identified purposes or for specific periods of time
a. True b. False Indicate whether the statement is true or false
The Consumer Product Safety Commission tries to encourage safe product design, but the commission has almost no power to deal with unsafe products.
Answer the following statement true (T) or false (F)
Mona is induced by her guardian Newt to sign a contract to invest her student loan funds in OmniBank through Newt's investment firm. Unknown to Mona, Newt realizes ongoing commissions from the investment. Most likely, Mona may A) not rescind the contract
B) rescind the contract on the basis of undue influence. C) rescind the contract on the basis of mistake. D) rescind the contract on the basis of unconscionability.