I am not clear about mortgage passthrough securities, read once that they pay interest and principal pro rata, if so, do they have same coupon and maturity as well? (WAC and WAM)
Yes… all investors have the same prepayment risk so same maturity as well. PAC’s just redistribute that by tranching it out.
At least that’s what I remember. Maybe somebody with the books can clarify…
From what I remember, No.
I believe the entity that is in charge of distribution and clearing of each monthly payout gets a cut.
next reasiding sucks more