Main category
Economics (General Management)
Abstract
CHT sold bullet bonds of total notional N that pays C% semi annual coupon for 60 months to investors for P dollars. Using these proceedings, CHT bought a mortgage pool, whose dollar price was P, from the party and entered into a “seller swap” with the party. CHT will buy new mortgage pools from the principal payments generated from the mortgage pools that already bought from the party
Further reading
https://ia902902.us.archive.org/10/items/sellerSwap/sellerSwap.pdf
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