Is it possible to know the typical number of mortgages that can be packaged into a MBS product, e.g. a pass-through MBS, or an agency backed TBA. I think the minimum size is \$1-million but if a typical mortgage is around \$100k then this means only 10 mortgages might be delivered, which seems a very small amount.

Is there any information to see what is typically delivered into a TBA?


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    $\begingroup$ I think that each TBA is backed by hundreds of mortgage pools, each of which contain a fractional interest in thousands of similar mortgages. Thus, you do not get delivered a whole mortgage in your TBA. $\endgroup$ – dm63 Dec 16 '17 at 13:15
  • $\begingroup$ @dm63 useful insight. Are you aware of any references which detail this splitting or structure ? $\endgroup$ – oliversm Dec 16 '17 at 13:41

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