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- UID
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- 帖子
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- 2011-7-11
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- 2014-8-7
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| If I recall correctly, a sinking fund is one that allows prepayment. You can see the sinking fund factor as an extra spread, like phrenchy mentioned, to compensate for the fact mortgages are by definition negatively convex, or callable. (this is precisely why we treat prepayment risk with such seriousness in MBS). |
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发表于 2011-7-13 16:31
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