题目
Compared with the weighted average coupon rate of its underlying pool of mortgages, the pass-through rate on a mortgage pass-through security is:
选项
A.lower.
B.the same.
C.higher.
答案
A
解析
： A is correct. The coupon rate of a mortgage pass-through security is called the pass-through rate, whereas the mortgage rate on the underlying pool of mortgages is calculated as a weighted average coupon rate (WAC). The pass-through rate is lower than the WAC by an amount equal to the servicing fee and other administrative fees. ： A是正确的。抵押贷款转嫁证券的票面利率称为转手率，而基础按揭池的按揭利率则计算为加权平均票面利率（WAC）。转手率低于WAC的部分，等于服务费和其他管理费。