Shorting Home Equity Mezzanine Tranches
2007_Subprime_Shorting-Home-Equity-Mezzanine-Tranches
2007_Subprime_Shorting-Home-Equity-Mezzanine-Tranches
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Footnote Exhibits - Page 0997<br />
Strictly private & confidential<br />
Available funds cap: definition<br />
* Maximum net WAC caps the coupon paid to bondholders<br />
* Net WAC is gross WAC minus<br />
- Servicing fee<br />
- Trustee fee<br />
- Insurance premium (if any)<br />
- 10 payment (if any)<br />
" Designed to prevent bonds from defaulting because interest mismatch (as opposed to<br />
collateral performance)<br />
" Capped-out amount is carried forward and may be recouped in the next month<br />
Deutsche Bank /<br />
All numbers shown in this presentation are indicative and are based on a sample portfolio. Actual numbers will be<br />
different and will depend on the actual portfolios selected.<br />
73