Instructions 1. Order: Questions must be submitted in order. Any homework assignment with questions or parts of questions that are submitted out of order will receive no credit. The term order refers to the question numbers on the assignment. For example, if there are 5 questions, then the submitted solutions must be numbered from 1 to 5 in numerical order and each question must be answered completely under the appropriate number. Questions with subparts must also be answered in order.
2. Complete Assignment: to complete the assignment you must attempt all of the assigned problems/questions. If any of your answers are left blank or do not show sufficient effort the assignment will be marked incomplete. Incomplete assignments will receive no credit.
3. Work: to receive credit, you must show all of your work (for each calculation) in a complete, organized and legible fashion. Listing inputs to your calculator does not constitute showing your work.
4. Answers: • To receive credit, you must answer at least 50% of the assigned problems correctly • Your solutions must be clearly marked by placing a box or a circle around the final answer for calculation problems.
5. Format: homework must be hand written. Electronic copies of homework will receive no-credit
6. Submission: Homework must be submitted in class on the due date. The due date for each assignment is one week after it is assigned. Any other form of submission including but not limited to: late assignments, emailed assignments, assignments dropped in my mailbox or the department drop box will receive no-credit.
Question I a) What requirements must be satisfied for GNMA to insure a securitization?
All bonds in the pool must be insured against default by one of the major agencies FHA – Federal Housing Administration VA – Veterans Association FMHA - Federal Farmers Home Administration
b) What does GNMA insurance protect against?
GNMA insures the