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What I've gathered from the two reponses above is:

1. Yes, not just the support tranche's principal but their interest as well can be held off and sent to the PAC tranches if principal payments are slow.

2. Yield changes --> volatility in rates --> large increases in Vcall and Vput ---> causes large(r) changes in Vcallable bonds. Vnoncallable bonds change as well with changes in yield, but the effect is not as large since it is not impacted by call and put volatility.

Accurate?