Interest-Only/Principal-Only Mortgage-Backed Strips: A Valuation and Risk Analysis
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We examine the risk characteristics of each portion of IO/PO mortgage strips, present results of a valuation model of these securities, and examine market prices of both the interest-only and principal-only portions of mortgage pools. We show that IO/PO securities are highly sensitive to the
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美国国家经济研究局创建时间：
1987-08-01
