What was the role of gnma ginnie mae in the mortgage-backed


1. What was the role of GNMA (Ginnie Mae) in the mortgage-backed securities market of the 1970s?

2. Explain what is meant by (a) an ABS and (b) an ABS CDO.

3. What is a mezzanine tranche?

4. What is the waterfall in a securitization?

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Finance Basics: What was the role of gnma ginnie mae in the mortgage-backed
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