Mock exam afternoon session Q13-18 talks about a pool of 30-year, fixed rate morgages “…She explains that the pool has a WAC of 7.10% and a WAM of 356 months…” It seems WAM indicates current month is month 4 (360-356), but what does WAM stand for? And what is WAC? Thanks.
Weighted Average Coupon/Maturity
An 80’s band 