id	sid	tid	token	lemma	pos
fsr-3796	1	1	pii	pii	PROPN
fsr-3796	1	2	:	:	PUNCT
fsr-3796	1	3	s1057	s1057	NOUN
fsr-3796	1	4	-	-	PUNCT
fsr-3796	1	5	0810(96)90004	0810(96)90004	NOUN
fsr-3796	1	6	-	-	PUNCT
fsr-3796	1	7	9	9	NUM
fsr-3796	1	8	financial	financial	ADJ
fsr-3796	1	9	services	service	NOUN
fsr-3796	1	10	review	review	NOUN
fsr-3796	1	11	,	,	PUNCT
fsr-3796	1	12	5(2	5(2	NUM
fsr-3796	1	13	):	):	PUNCT
fsr-3796	1	14	101	101	NUM
fsr-3796	1	15	-	-	SYM
fsr-3796	1	16	117	117	NUM
fsr-3796	1	17	copyright	copyright	NOUN
fsr-3796	1	18	0	0	NUM
fsr-3796	1	19	1996	1996	NUM
fsr-3796	1	20	by	by	ADP
fsr-3796	1	21	jai	jai	PROPN
fsr-3796	1	22	press	press	PROPN
fsr-3796	1	23	inc	inc	PROPN
fsr-3796	1	24	.	.	PROPN
fsr-3796	1	25	issn	issn	PROPN
fsr-3796	1	26	:	:	PUNCT
fsr-3796	1	27	1057	1057	NUM
fsr-3796	1	28	-	-	SYM
fsr-3796	1	29	08	08	NUM
fsr-3796	1	30	10	10	NUM
fsr-3796	1	31	all	all	DET
fsr-3796	1	32	rights	right	NOUN
fsr-3796	1	33	of	of	ADP
fsr-3796	1	34	reproduction	reproduction	NOUN
fsr-3796	1	35	in	in	ADP
fsr-3796	1	36	any	any	DET
fsr-3796	1	37	form	form	NOUN
fsr-3796	1	38	reserved	reserve	VERB
fsr-3796	1	39	.	.	PUNCT
fsr-3796	2	1	a	a	DET
fsr-3796	2	2	simulation	simulation	NOUN
fsr-3796	2	3	approach	approach	NOUN
fsr-3796	2	4	to	to	ADP
fsr-3796	2	5	the	the	DET
fsr-3796	2	6	choice	choice	NOUN
fsr-3796	2	7	between	between	ADP
fsr-3796	2	8	fixed	fix	VERB
fsr-3796	2	9	and	and	CCONJ
fsr-3796	2	10	adjustable	adjustable	ADJ
fsr-3796	2	11	rate	rate	NOUN
fsr-3796	2	12	mortgages	mortgage	NOUN
fsr-3796	2	13	william	william	PROPN
fsr-3796	2	14	k.	k.	PROPN
fsr-3796	2	15	templeton	templeton	PROPN
fsr-3796	2	16	,	,	PUNCT
fsr-3796	2	17	robert	robert	PROPN
fsr-3796	2	18	s.	s.	PROPN
fsr-3796	2	19	main	main	PROPN
fsr-3796	2	20	,	,	PUNCT
fsr-3796	2	21	and	and	CCONJ
fsr-3796	2	22	j.	j.	PROPN
fsr-3796	2	23	b.	b.	PROPN
fsr-3796	2	24	orris	orris	PROPN
fsr-3796	2	25	this	this	DET
fsr-3796	2	26	study	study	NOUN
fsr-3796	2	27	uses	use	VERB
fsr-3796	2	28	a	a	DET
fsr-3796	2	29	simulation	simulation	NOUN
fsr-3796	2	30	approach	approach	NOUN
fsr-3796	2	31	to	to	PART
fsr-3796	2	32	model	model	VERB
fsr-3796	2	33	the	the	DET
fsr-3796	2	34	choice	choice	NOUN
fsr-3796	2	35	between	between	ADP
fsr-3796	2	36	a	a	DET
fsr-3796	2	37	fixed	fix	VERB
fsr-3796	2	38	rate	rate	NOUN
fsr-3796	2	39	mort	mort	PROPN
fsr-3796	2	40	gage	gage	PROPN
fsr-3796	2	41	(	(	PUNCT
fsr-3796	2	42	frm	frm	PROPN
fsr-3796	2	43	}	}	PUNCT
fsr-3796	2	44	and	and	CCONJ
fsr-3796	2	45	an	an	DET
fsr-3796	2	46	adjustable	adjustable	ADJ
fsr-3796	2	47	rate	rate	NOUN
fsr-3796	2	48	mortgage	mortgage	NOUN
fsr-3796	2	49	(	(	PUNCT
fsr-3796	2	50	arm	arm	NOUN
fsr-3796	2	51	)	)	PUNCT
fsr-3796	2	52	.	.	PUNCT
fsr-3796	3	1	our	our	PRON
fsr-3796	3	2	simulations	simulation	NOUN
fsr-3796	3	3	help	help	VERB
fsr-3796	3	4	assess	assess	VERB
fsr-3796	3	5	the	the	DET
fsr-3796	3	6	risks	risk	NOUN
fsr-3796	3	7	and	and	CCONJ
fsr-3796	3	8	benefits	benefit	NOUN
fsr-3796	3	9	of	of	ADP
fsr-3796	3	10	choosing	choose	VERB
fsr-3796	3	11	an	an	DET
fsr-3796	3	12	arm	arm	NOUN
fsr-3796	3	13	rather	rather	ADV
fsr-3796	3	14	than	than	ADP
fsr-3796	3	15	a	a	DET
fsr-3796	3	16	frm	frm	PROPN
fsr-3796	3	17	.	.	PUNCT
fsr-3796	4	1	we	we	PRON
fsr-3796	4	2	represent	represent	VERB
fsr-3796	4	3	the	the	DET
fsr-3796	4	4	risk	risk	NOUN
fsr-3796	4	5	of	of	ADP
fsr-3796	4	6	the	the	DET
fsr-3796	4	7	arm	arm	NOUN
fsr-3796	4	8	with	with	ADP
fsr-3796	4	9	distributions	distribution	NOUN
fsr-3796	4	10	of	of	ADP
fsr-3796	4	11	present	present	ADJ
fsr-3796	4	12	value	value	NOUN
fsr-3796	4	13	cost	cost	NOUN
fsr-3796	4	14	differentials	differential	NOUN
fsr-3796	4	15	for	for	ADP
fsr-3796	4	16	a	a	DET
fsr-3796	4	17	variety	variety	NOUN
fsr-3796	4	18	of	of	ADP
fsr-3796	4	19	mortgage	mortgage	NOUN
fsr-3796	4	20	life	life	NOUN
fsr-3796	4	21	periods	period	NOUN
fsr-3796	4	22	.	.	PUNCT
fsr-3796	5	1	we	we	PRON
fsr-3796	5	2	provide	provide	VERB
fsr-3796	5	3	insight	insight	NOUN
fsr-3796	5	4	on	on	ADP
fsr-3796	5	5	thejinancial	thejinancial	ADJ
fsr-3796	5	6	planning	planning	NOUN
fsr-3796	5	7	aspect	aspect	NOUN
fsr-3796	5	8	by	by	ADP
fsr-3796	5	9	modeling	model	VERB
fsr-3796	5	10	the	the	DET
fsr-3796	5	11	impact	impact	NOUN
fsr-3796	5	12	of	of	ADP
fsr-3796	5	13	mortgage	mortgage	NOUN
fsr-3796	5	14	rate	rate	NOUN
fsr-3796	5	15	changes	change	NOUN
fsr-3796	5	16	on	on	ADP
fsr-3796	5	17	the	the	DET
fsr-3796	5	18	size	size	NOUN
fsr-3796	5	19	of	of	ADP
fsr-3796	5	20	payments	payment	NOUN
fsr-3796	5	21	for	for	ADP
fsr-3796	5	22	arms	arm	NOUN
fsr-3796	5	23	.	.	PUNCT
fsr-3796	6	1	the	the	DET
fsr-3796	6	2	simulations	simulation	NOUN
fsr-3796	6	3	yield	yield	VERB
fsr-3796	6	4	non	non	ADJ
fsr-3796	6	5	intuitive	intuitive	ADJ
fsr-3796	6	6	results	result	NOUN
fsr-3796	6	7	that	that	PRON
fsr-3796	6	8	may	may	AUX
fsr-3796	6	9	lead	lead	VERB
fsr-3796	6	10	to	to	ADP
fsr-3796	6	11	better	well	ADJ
fsr-3796	6	12	decision	decision	NOUN
fsr-3796	6	13	making	making	NOUN
fsr-3796	6	14	by	by	ADP
fsr-3796	6	15	borrowers	borrower	NOUN
fsr-3796	6	16	.	.	PUNCT
fsr-3796	7	1	mortgage	mortgage	NOUN
fsr-3796	7	2	borrowers	borrower	NOUN
fsr-3796	7	3	appear	appear	VERB
fsr-3796	7	4	to	to	PART
fsr-3796	7	5	have	have	VERB
fsr-3796	7	6	a	a	DET
fsr-3796	7	7	difficult	difficult	ADJ
fsr-3796	7	8	time	time	NOUN
fsr-3796	7	9	evaluating	evaluate	VERB
fsr-3796	7	10	the	the	DET
fsr-3796	7	11	costs	cost	NOUN
fsr-3796	7	12	and	and	CCONJ
fsr-3796	7	13	risks	risk	NOUN
fsr-3796	7	14	associ	associ	PROPN
fsr-3796	7	15	ated	ate	VERB
fsr-3796	7	16	with	with	ADP
fsr-3796	7	17	the	the	DET
fsr-3796	7	18	choice	choice	NOUN
fsr-3796	7	19	between	between	ADP
fsr-3796	7	20	a	a	DET
fsr-3796	7	21	fixed	fix	VERB
fsr-3796	7	22	rate	rate	NOUN
fsr-3796	7	23	mortgage	mortgage	NOUN
fsr-3796	7	24	(	(	PUNCT
fsr-3796	7	25	frm	frm	PROPN
fsr-3796	7	26	)	)	PUNCT
fsr-3796	7	27	and	and	CCONJ
fsr-3796	7	28	an	an	DET
fsr-3796	7	29	adjustable	adjustable	ADJ
fsr-3796	7	30	rate	rate	NOUN
fsr-3796	7	31	mortgage	mortgage	NOUN
fsr-3796	7	32	(	(	PUNCT
fsr-3796	7	33	arm	arm	NOUN
fsr-3796	7	34	)	)	PUNCT
fsr-3796	7	35	.	.	PUNCT
fsr-3796	8	1	anecdotal	anecdotal	ADJ
fsr-3796	8	2	evidence	evidence	NOUN
fsr-3796	8	3	suggests	suggest	VERB
fsr-3796	8	4	they	they	PRON
fsr-3796	8	5	often	often	ADV
fsr-3796	8	6	consider	consider	VERB
fsr-3796	8	7	only	only	ADV
fsr-3796	8	8	the	the	DET
fsr-3796	8	9	worst	bad	ADJ
fsr-3796	8	10	case	case	NOUN
fsr-3796	8	11	interest	interest	NOUN
fsr-3796	8	12	rate	rate	NOUN
fsr-3796	8	13	scenario	scenario	PROPN
fsr-3796	8	14	,	,	PUNCT
fsr-3796	8	15	misunderstand	misunderstand	VERB
fsr-3796	8	16	the	the	DET
fsr-3796	8	17	effect	effect	NOUN
fsr-3796	8	18	of	of	ADP
fsr-3796	8	19	the	the	DET
fsr-3796	8	20	time	time	NOUN
fsr-3796	8	21	value	value	NOUN
fsr-3796	8	22	of	of	ADP
fsr-3796	8	23	money	money	NOUN
fsr-3796	8	24	and	and	CCONJ
fsr-3796	8	25	the	the	DET
fsr-3796	8	26	expected	expect	VERB
fsr-3796	8	27	life	life	NOUN
fsr-3796	8	28	of	of	ADP
fsr-3796	8	29	the	the	DET
fsr-3796	8	30	mortgage	mortgage	NOUN
fsr-3796	8	31	in	in	ADP
fsr-3796	8	32	making	make	VERB
fsr-3796	8	33	this	this	DET
fsr-3796	8	34	choice	choice	NOUN
fsr-3796	8	35	,	,	PUNCT
fsr-3796	8	36	and	and	CCONJ
fsr-3796	8	37	often	often	ADV
fsr-3796	8	38	worry	worry	VERB
fsr-3796	8	39	more	more	ADV
fsr-3796	8	40	about	about	ADP
fsr-3796	8	41	the	the	DET
fsr-3796	8	42	uncertain	uncertain	ADJ
fsr-3796	8	43	prospect	prospect	NOUN
fsr-3796	8	44	of	of	ADP
fsr-3796	8	45	large	large	ADJ
fsr-3796	8	46	monthly	monthly	ADJ
fsr-3796	8	47	payments	payment	NOUN
fsr-3796	8	48	than	than	ADP
fsr-3796	8	49	the	the	DET
fsr-3796	8	50	effective	effective	ADJ
fsr-3796	8	51	costs	cost	NOUN
fsr-3796	8	52	of	of	ADP
fsr-3796	8	53	the	the	DET
fsr-3796	8	54	competing	compete	VERB
fsr-3796	8	55	mortgages	mortgage	NOUN
fsr-3796	8	56	.	.	PUNCT
fsr-3796	9	1	this	this	DET
fsr-3796	9	2	study	study	NOUN
fsr-3796	9	3	offers	offer	VERB
fsr-3796	9	4	an	an	DET
fsr-3796	9	5	approach	approach	NOUN
fsr-3796	9	6	by	by	ADP
fsr-3796	9	7	which	which	PRON
fsr-3796	9	8	borrowers	borrower	NOUN
fsr-3796	9	9	may	may	AUX
fsr-3796	9	10	more	more	ADV
fsr-3796	9	11	effectively	effectively	ADV
fsr-3796	9	12	evaluate	evaluate	VERB
fsr-3796	9	13	the	the	DET
fsr-3796	9	14	arm	arm	NOUN
fsr-3796	9	15	-	-	PUNCT
fsr-3796	9	16	frm	frm	PROPN
fsr-3796	9	17	choice	choice	NOUN
fsr-3796	9	18	.	.	PUNCT
fsr-3796	10	1	it	it	PRON
fsr-3796	10	2	provides	provide	VERB
fsr-3796	10	3	a	a	DET
fsr-3796	10	4	simulation	simulation	NOUN
fsr-3796	10	5	model	model	NOUN
fsr-3796	10	6	that	that	PRON
fsr-3796	10	7	yields	yield	VERB
fsr-3796	10	8	information	information	NOUN
fsr-3796	10	9	on	on	ADP
fsr-3796	10	10	a	a	DET
fsr-3796	10	11	number	number	NOUN
fsr-3796	10	12	of	of	ADP
fsr-3796	10	13	cost	cost	NOUN
fsr-3796	10	14	and	and	CCONJ
fsr-3796	10	15	risk	risk	NOUN
fsr-3796	10	16	factors	factor	NOUN
fsr-3796	10	17	of	of	ADP
fsr-3796	10	18	demonstrated	demonstrate	VERB
fsr-3796	10	19	importance	importance	NOUN
fsr-3796	10	20	to	to	ADP
fsr-3796	10	21	borrowers	borrower	NOUN
fsr-3796	10	22	.	.	PUNCT
fsr-3796	11	1	the	the	DET
fsr-3796	11	2	simulation	simulation	NOUN
fsr-3796	11	3	output	output	NOUN
fsr-3796	11	4	allows	allow	VERB
fsr-3796	11	5	a	a	DET
fsr-3796	11	6	borrower	borrower	NOUN
fsr-3796	11	7	to	to	PART
fsr-3796	11	8	view	view	VERB
fsr-3796	11	9	probability	probability	NOUN
fsr-3796	11	10	distributions	distribution	NOUN
fsr-3796	11	11	of	of	ADP
fsr-3796	11	12	present	present	ADJ
fsr-3796	11	13	value	value	NOUN
fsr-3796	11	14	cost	cost	NOUN
fsr-3796	11	15	differentials	differential	NOUN
fsr-3796	11	16	between	between	ADP
fsr-3796	11	17	the	the	DET
fsr-3796	11	18	arm	arm	NOUN
fsr-3796	11	19	and	and	CCONJ
fsr-3796	11	20	the	the	DET
fsr-3796	11	21	frm	frm	PROPN
fsr-3796	11	22	for	for	ADP
fsr-3796	11	23	a	a	DET
fsr-3796	11	24	variety	variety	NOUN
fsr-3796	11	25	of	of	ADP
fsr-3796	11	26	mortgage	mortgage	NOUN
fsr-3796	11	27	life	life	NOUN
fsr-3796	11	28	periods	period	NOUN
fsr-3796	11	29	.	.	PUNCT
fsr-3796	12	1	it	it	PRON
fsr-3796	12	2	also	also	ADV
fsr-3796	12	3	provides	provide	VERB
fsr-3796	12	4	a	a	DET
fsr-3796	12	5	distribution	distribution	NOUN
fsr-3796	12	6	of	of	ADP
fsr-3796	12	7	the	the	DET
fsr-3796	12	8	breakeven	breakeven	ADJ
fsr-3796	12	9	period	period	NOUN
fsr-3796	12	10	,	,	PUNCT
fsr-3796	12	11	the	the	DET
fsr-3796	12	12	number	number	NOUN
fsr-3796	12	13	of	of	ADP
fsr-3796	12	14	years	year	NOUN
fsr-3796	12	15	for	for	ADP
fsr-3796	12	16	which	which	PRON
fsr-3796	12	17	the	the	DET
fsr-3796	12	18	arm	arm	NOUN
fsr-3796	12	19	maintains	maintain	VERB
fsr-3796	12	20	its	its	PRON
fsr-3796	12	21	present	present	ADJ
fsr-3796	12	22	value	value	NOUN
fsr-3796	12	23	cost	cost	NOUN
fsr-3796	12	24	advantage	advantage	NOUN
fsr-3796	12	25	from	from	ADP
fsr-3796	12	26	the	the	DET
fsr-3796	12	27	initiation	initiation	NOUN
fsr-3796	12	28	of	of	ADP
fsr-3796	12	29	the	the	DET
fsr-3796	12	30	loan	loan	NOUN
fsr-3796	12	31	.	.	PUNCT
fsr-3796	13	1	finally	finally	ADV
fsr-3796	13	2	,	,	PUNCT
fsr-3796	13	3	the	the	DET
fsr-3796	13	4	simulation	simulation	NOUN
fsr-3796	13	5	permits	permit	VERB
fsr-3796	13	6	insight	insight	NOUN
fsr-3796	13	7	into	into	ADP
fsr-3796	13	8	the	the	DET
fsr-3796	13	9	financial	financial	ADJ
fsr-3796	13	10	planning	planning	NOUN
fsr-3796	13	11	aspect	aspect	NOUN
fsr-3796	13	12	of	of	ADP
fsr-3796	13	13	the	the	DET
fsr-3796	13	14	choice	choice	NOUN
fsr-3796	13	15	by	by	ADP
fsr-3796	13	16	modeling	model	VERB
fsr-3796	13	17	the	the	DET
fsr-3796	13	18	impact	impact	NOUN
fsr-3796	13	19	of	of	ADP
fsr-3796	13	20	mortgage	mortgage	NOUN
fsr-3796	13	21	rate	rate	NOUN
fsr-3796	13	22	changes	change	NOUN
fsr-3796	13	23	on	on	ADP
fsr-3796	13	24	the	the	DET
fsr-3796	13	25	size	size	NOUN
fsr-3796	13	26	of	of	ADP
fsr-3796	13	27	payments	payment	NOUN
fsr-3796	13	28	for	for	ADP
fsr-3796	13	29	the	the	DET
fsr-3796	13	30	arm	arm	NOUN
fsr-3796	13	31	.	.	PUNCT
fsr-3796	14	1	a	a	DET
fsr-3796	14	2	borrower	borrower	NOUN
fsr-3796	14	3	may	may	AUX
fsr-3796	14	4	then	then	ADV
fsr-3796	14	5	compare	compare	VERB
fsr-3796	14	6	this	this	DET
fsr-3796	14	7	uncertain	uncertain	ADJ
fsr-3796	14	8	payment	payment	NOUN
fsr-3796	14	9	to	to	ADP
fsr-3796	14	10	the	the	DET
fsr-3796	14	11	frm	frm	PROPN
fsr-3796	14	12	payment	payment	NOUN
fsr-3796	14	13	.	.	PUNCT
fsr-3796	15	1	william	william	PROPN
fsr-3796	15	2	k.	k.	PROPN
fsr-3796	15	3	templeton	templeton	PROPN
fsr-3796	15	4	,	,	PUNCT
fsr-3796	15	5	robert	robert	PROPN
fsr-3796	15	6	s.	s.	PROPN
fsr-3796	15	7	main	main	PROPN
fsr-3796	15	8	,	,	PUNCT
fsr-3796	15	9	and	and	CCONJ
fsr-3796	15	10	j.	j.	PROPN
fsr-3796	15	11	b.	b.	PROPN
fsr-3796	15	12	orris	orris	PROPN
fsr-3796	15	13	l	l	PROPN
fsr-3796	15	14	butler	butler	PROPN
fsr-3796	15	15	university	university	PROPN
fsr-3796	15	16	,	,	PUNCT
fsr-3796	15	17	4600	4600	NUM
fsr-3796	15	18	sunset	sunset	PROPN
fsr-3796	15	19	avenue	avenue	PROPN
fsr-3796	15	20	,	,	PUNCT
fsr-3796	15	21	indianapolis	indianapolis	PROPN
fsr-3796	15	22	,	,	PUNCT
fsr-3796	15	23	in	in	ADP
fsr-3796	15	24	46208	46208	NUM
fsr-3796	15	25	.	.	PUNCT
fsr-3796	16	1	102	102	NUM
fsr-3796	16	2	financial	financial	ADJ
fsr-3796	16	3	services	service	NOUN
fsr-3796	16	4	review	review	VERB
fsr-3796	16	5	s(2	s(2	NOUN
fsr-3796	16	6	)	)	PUNCT
fsr-3796	16	7	1996	1996	NUM
fsr-3796	16	8	i.	i.	PROPN
fsr-3796	16	9	literature	literature	PROPN
fsr-3796	16	10	review	review	PROPN
fsr-3796	16	11	thus	thus	ADV
fsr-3796	16	12	far	far	ADV
fsr-3796	16	13	,	,	PUNCT
fsr-3796	16	14	the	the	DET
fsr-3796	16	15	academic	academic	ADJ
fsr-3796	16	16	literature	literature	NOUN
fsr-3796	16	17	largely	largely	ADV
fsr-3796	16	18	has	have	AUX
fsr-3796	16	19	focused	focus	VERB
fsr-3796	16	20	on	on	ADP
fsr-3796	16	21	discovering	discover	VERB
fsr-3796	16	22	which	which	PRON
fsr-3796	16	23	variables	variable	NOUN
fsr-3796	16	24	signif	signif	VERB
fsr-3796	16	25	icantly	icantly	ADV
fsr-3796	16	26	influence	influence	VERB
fsr-3796	16	27	actual	actual	ADJ
fsr-3796	16	28	borrower	borrower	NOUN
fsr-3796	16	29	choice	choice	NOUN
fsr-3796	16	30	(	(	PUNCT
fsr-3796	16	31	e.g.	e.g.	ADV
fsr-3796	16	32	,	,	PUNCT
fsr-3796	16	33	see	see	VERB
fsr-3796	16	34	brueckner	brueckner	NOUN
fsr-3796	16	35	&	&	CCONJ
fsr-3796	16	36	follain	follain	NOUN
fsr-3796	16	37	,	,	PUNCT
fsr-3796	16	38	1988	1988	NUM
fsr-3796	16	39	;	;	PUNCT
fsr-3796	16	40	dhillon	dhillon	PROPN
fsr-3796	16	41	,	,	PUNCT
fsr-3796	16	42	shilling	shilling	NOUN
fsr-3796	16	43	,	,	PUNCT
fsr-3796	16	44	dz	dz	PROPN
fsr-3796	16	45	sirmans	sirman	NOUN
fsr-3796	16	46	,	,	PUNCT
fsr-3796	16	47	1987	1987	NUM
fsr-3796	16	48	;	;	PUNCT
fsr-3796	16	49	goldberg	goldberg	PROPN
fsr-3796	16	50	&	&	CCONJ
fsr-3796	16	51	heuson	heuson	PROPN
fsr-3796	16	52	,	,	PUNCT
fsr-3796	16	53	1992	1992	NUM
fsr-3796	16	54	;	;	PUNCT
fsr-3796	16	55	o’brien	o’brien	PROPN
fsr-3796	16	56	&	&	CCONJ
fsr-3796	16	57	wong	wong	PROPN
fsr-3796	16	58	,	,	PUNCT
fsr-3796	16	59	1990	1990	NUM
fsr-3796	16	60	;	;	PUNCT
fsr-3796	16	61	phillips	phillips	PROPN
fsr-3796	16	62	&	&	CCONJ
fsr-3796	16	63	vanderhoff	vanderhoff	PROPN
fsr-3796	16	64	,	,	PUNCT
fsr-3796	16	65	1991	1991	NUM
fsr-3796	16	66	;	;	PUNCT
fsr-3796	16	67	tucker	tucker	PROPN
fsr-3796	16	68	,	,	PUNCT
fsr-3796	16	69	1989	1989	NUM
fsr-3796	16	70	)	)	PUNCT
fsr-3796	16	71	.	.	PUNCT
fsr-3796	17	1	these	these	DET
fsr-3796	17	2	studies	study	NOUN
fsr-3796	17	3	generally	generally	ADV
fsr-3796	17	4	show	show	VERB
fsr-3796	17	5	that	that	SCONJ
fsr-3796	17	6	pricing	pricing	NOUN
fsr-3796	17	7	variables	variable	NOUN
fsr-3796	17	8	are	be	AUX
fsr-3796	17	9	the	the	DET
fsr-3796	17	10	most	most	ADV
fsr-3796	17	11	important	important	ADJ
fsr-3796	17	12	determinants	determinant	NOUN
fsr-3796	17	13	of	of	ADP
fsr-3796	17	14	choice	choice	NOUN
fsr-3796	17	15	.	.	PUNCT
fsr-3796	18	1	these	these	DET
fsr-3796	18	2	factors	factor	NOUN
fsr-3796	18	3	include	include	VERB
fsr-3796	18	4	the	the	DET
fsr-3796	18	5	initial	initial	ADJ
fsr-3796	18	6	mortgage	mortgage	NOUN
fsr-3796	18	7	rate	rate	NOUN
fsr-3796	18	8	differential	differential	NOUN
fsr-3796	18	9	between	between	ADP
fsr-3796	18	10	arms	arm	NOUN
fsr-3796	18	11	and	and	CCONJ
fsr-3796	18	12	frms	frm	NOUN
fsr-3796	18	13	and	and	CCONJ
fsr-3796	18	14	discount	discount	NOUN
fsr-3796	18	15	point	point	NOUN
fsr-3796	18	16	differenti	differenti	PROPN
fsr-3796	18	17	~	~	PROPN
fsr-3796	18	18	s.	s.	PROPN
fsr-3796	18	19	normally	normally	ADV
fsr-3796	18	20	,	,	PUNCT
fsr-3796	18	21	an	an	DET
fsr-3796	18	22	arm	arm	NOUN
fsr-3796	18	23	offers	offer	VERB
fsr-3796	18	24	a	a	DET
fsr-3796	18	25	lower	low	ADJ
fsr-3796	18	26	initial	initial	ADJ
fsr-3796	18	27	mortgage	mortgage	NOUN
fsr-3796	18	28	rate	rate	NOUN
fsr-3796	18	29	compared	compare	VERB
fsr-3796	18	30	to	to	ADP
fsr-3796	18	31	a	a	DET
fsr-3796	18	32	frm	frm	PROPN
fsr-3796	18	33	.	.	PUNCT
fsr-3796	19	1	arms	arm	NOUN
fsr-3796	19	2	entail	entail	VERB
fsr-3796	19	3	a	a	DET
fsr-3796	19	4	higher	high	ADJ
fsr-3796	19	5	degree	degree	NOUN
fsr-3796	19	6	of	of	ADP
fsr-3796	19	7	risk	risk	NOUN
fsr-3796	19	8	with	with	ADP
fsr-3796	19	9	regard	regard	NOUN
fsr-3796	19	10	to	to	ADP
fsr-3796	19	11	cost	cost	NOUN
fsr-3796	19	12	,	,	PUNCT
fsr-3796	19	13	and	and	CCONJ
fsr-3796	19	14	introduce	introduce	VERB
fsr-3796	19	15	uncertainty	uncertainty	NOUN
fsr-3796	19	16	into	into	ADP
fsr-3796	19	17	the	the	DET
fsr-3796	19	18	financial	financial	ADJ
fsr-3796	19	19	planning	planning	NOUN
fsr-3796	19	20	process	process	NOUN
fsr-3796	19	21	.	.	PUNCT
fsr-3796	20	1	bor	bor	PROPN
fsr-3796	20	2	rowers	rower	NOUN
fsr-3796	20	3	ought	ought	AUX
fsr-3796	20	4	to	to	PART
fsr-3796	20	5	require	require	VERB
fsr-3796	20	6	a	a	DET
fsr-3796	20	7	lower	low	ADJ
fsr-3796	20	8	initial	initial	ADJ
fsr-3796	20	9	rate	rate	NOUN
fsr-3796	20	10	as	as	ADP
fsr-3796	20	11	compensation	compensation	NOUN
fsr-3796	20	12	.	.	PUNCT
fsr-3796	21	1	thus	thus	ADV
fsr-3796	21	2	,	,	PUNCT
fsr-3796	21	3	the	the	DET
fsr-3796	21	4	proportion	proportion	NOUN
fsr-3796	21	5	of	of	ADP
fsr-3796	21	6	bor	bor	NOUN
fsr-3796	21	7	rowers	rower	NOUN
fsr-3796	21	8	choosing	choose	VERB
fsr-3796	21	9	an	an	DET
fsr-3796	21	10	arm	arm	NOUN
fsr-3796	21	11	has	have	AUX
fsr-3796	21	12	been	be	AUX
fsr-3796	21	13	found	find	VERB
fsr-3796	21	14	to	to	PART
fsr-3796	21	15	be	be	AUX
fsr-3796	21	16	positively	positively	ADV
fsr-3796	21	17	related	relate	VERB
fsr-3796	21	18	to	to	ADP
fsr-3796	21	19	the	the	DET
fsr-3796	21	20	size	size	NOUN
fsr-3796	21	21	of	of	ADP
fsr-3796	21	22	the	the	DET
fsr-3796	21	23	initial	initial	ADJ
fsr-3796	21	24	rate	rate	NOUN
fsr-3796	21	25	differential	differential	NOUN
fsr-3796	21	26	.	.	PUNCT
fsr-3796	22	1	five	five	NUM
fsr-3796	22	2	of	of	ADP
fsr-3796	22	3	the	the	DET
fsr-3796	22	4	six	six	NUM
fsr-3796	22	5	studies	study	NOUN
fsr-3796	22	6	cited	cite	VERB
fsr-3796	22	7	above	above	ADV
fsr-3796	22	8	have	have	AUX
fsr-3796	22	9	found	find	VERB
fsr-3796	22	10	that	that	SCONJ
fsr-3796	22	11	the	the	DET
fsr-3796	22	12	rate	rate	NOUN
fsr-3796	22	13	level	level	NOUN
fsr-3796	22	14	of	of	ADP
fsr-3796	22	15	the	the	DET
fsr-3796	22	16	frm	frm	PROPN
fsr-3796	22	17	is	be	AUX
fsr-3796	22	18	signif	signif	NOUN
fsr-3796	22	19	icantly	icantly	ADV
fsr-3796	22	20	positively	positively	ADV
fsr-3796	22	21	associated	associate	VERB
fsr-3796	22	22	with	with	ADP
fsr-3796	22	23	the	the	DET
fsr-3796	22	24	probability	probability	NOUN
fsr-3796	22	25	of	of	ADP
fsr-3796	22	26	choosing	choose	VERB
fsr-3796	22	27	an	an	DET
fsr-3796	22	28	arm	arm	NOUN
fsr-3796	22	29	,	,	PUNCT
fsr-3796	22	30	celerisparibus	celerisparibus	PROPN
fsr-3796	22	31	.	.	PUNCT
fsr-3796	23	1	the	the	DET
fsr-3796	23	2	explanation	explanation	NOUN
fsr-3796	23	3	for	for	ADP
fsr-3796	23	4	this	this	PRON
fsr-3796	23	5	may	may	AUX
fsr-3796	23	6	be	be	AUX
fsr-3796	23	7	that	that	SCONJ
fsr-3796	23	8	borrowers	borrower	NOUN
fsr-3796	23	9	take	take	VERB
fsr-3796	23	10	advantage	advantage	NOUN
fsr-3796	23	11	of	of	ADP
fsr-3796	23	12	a	a	DET
fsr-3796	23	13	lower	low	ADJ
fsr-3796	23	14	initial	initial	ADJ
fsr-3796	23	15	rate	rate	NOUN
fsr-3796	23	16	on	on	ADP
fsr-3796	23	17	the	the	DET
fsr-3796	23	18	arm	arm	NOUN
fsr-3796	23	19	in	in	ADP
fsr-3796	23	20	order	order	NOUN
fsr-3796	23	21	to	to	PART
fsr-3796	23	22	qualify	qualify	VERB
fsr-3796	23	23	for	for	ADP
fsr-3796	23	24	a	a	DET
fsr-3796	23	25	larger	large	ADJ
fsr-3796	23	26	mortgage	mortgage	NOUN
fsr-3796	23	27	.	.	PUNCT
fsr-3796	24	1	an	an	DET
fsr-3796	24	2	alternative	alternative	ADJ
fsr-3796	24	3	explanation	explanation	NOUN
fsr-3796	24	4	is	be	AUX
fsr-3796	24	5	that	that	SCONJ
fsr-3796	24	6	when	when	SCONJ
fsr-3796	24	7	frm	frm	PROPN
fsr-3796	24	8	rates	rate	NOUN
fsr-3796	24	9	are	be	AUX
fsr-3796	24	10	high	high	ADJ
fsr-3796	24	11	,	,	PUNCT
fsr-3796	24	12	borrowers	borrower	NOUN
fsr-3796	24	13	assume	assume	VERB
fsr-3796	24	14	that	that	SCONJ
fsr-3796	24	15	rates	rate	NOUN
fsr-3796	24	16	will	will	AUX
fsr-3796	24	17	decline	decline	VERB
fsr-3796	24	18	and	and	CCONJ
fsr-3796	24	19	that	that	SCONJ
fsr-3796	24	20	the	the	DET
fsr-3796	24	21	arm	arm	NOUN
fsr-3796	24	22	will	will	AUX
fsr-3796	24	23	be	be	AUX
fsr-3796	24	24	the	the	DET
fsr-3796	24	25	lower	low	ADJ
fsr-3796	24	26	cost	cost	NOUN
fsr-3796	24	27	alternative	alternative	NOUN
fsr-3796	24	28	.	.	PUNCT
fsr-3796	25	1	at	at	ADP
fsr-3796	25	2	lower	low	ADJ
fsr-3796	25	3	frm	frm	PROPN
fsr-3796	25	4	rates	rate	NOUN
fsr-3796	25	5	borrowers	borrower	NOUN
fsr-3796	25	6	may	may	AUX
fsr-3796	25	7	prefer	prefer	VERB
fsr-3796	25	8	the	the	DET
fsr-3796	25	9	lower	low	ADJ
fsr-3796	25	10	risk	risk	NOUN
fsr-3796	25	11	of	of	ADP
fsr-3796	25	12	the	the	DET
fsr-3796	25	13	frm	frm	PROPN
fsr-3796	25	14	,	,	PUNCT
fsr-3796	25	15	or	or	CCONJ
fsr-3796	25	16	they	they	PRON
fsr-3796	25	17	may	may	AUX
fsr-3796	25	18	assume	assume	VERB
fsr-3796	25	19	that	that	SCONJ
fsr-3796	25	20	rates	rate	NOUN
fsr-3796	25	21	will	will	AUX
fsr-3796	25	22	increase	increase	VERB
fsr-3796	25	23	which	which	PRON
fsr-3796	25	24	would	would	AUX
fsr-3796	25	25	cause	cause	VERB
fsr-3796	25	26	the	the	DET
fsr-3796	25	27	arm	arm	NOUN
fsr-3796	25	28	to	to	PART
fsr-3796	25	29	be	be	AUX
fsr-3796	25	30	a	a	DET
fsr-3796	25	31	higher	high	ADJ
fsr-3796	25	32	cost	cost	NOUN
fsr-3796	25	33	alternative	alternative	NOUN
fsr-3796	25	34	.	.	PUNCT
fsr-3796	26	1	table	table	NOUN
fsr-3796	26	2	1	1	NUM
fsr-3796	26	3	contains	contain	VERB
fsr-3796	26	4	historical	historical	ADJ
fsr-3796	26	5	data	datum	NOUN
fsr-3796	26	6	on	on	ADP
fsr-3796	26	7	average	average	ADJ
fsr-3796	26	8	contract	contract	NOUN
fsr-3796	26	9	interest	interest	NOUN
fsr-3796	26	10	rates	rate	NOUN
fsr-3796	26	11	for	for	ADP
fsr-3796	26	12	both	both	DET
fsr-3796	26	13	frms	frm	NOUN
fsr-3796	26	14	and	and	CCONJ
fsr-3796	26	15	arms	arm	NOUN
fsr-3796	26	16	.	.	PUNCT
fsr-3796	27	1	it	it	PRON
fsr-3796	27	2	also	also	ADV
fsr-3796	27	3	shows	show	VERB
fsr-3796	27	4	the	the	DET
fsr-3796	27	5	percent	percent	NOUN
fsr-3796	27	6	of	of	ADP
fsr-3796	27	7	loans	loan	NOUN
fsr-3796	27	8	of	of	ADP
fsr-3796	27	9	each	each	DET
fsr-3796	27	10	variety	variety	NOUN
fsr-3796	27	11	.	.	PUNCT
fsr-3796	28	1	table	table	NOUN
fsr-3796	28	2	1	1	NUM
fsr-3796	28	3	con	con	NOUN
fsr-3796	28	4	firms	firm	NOUN
fsr-3796	28	5	that	that	PRON
fsr-3796	28	6	higher	high	ADJ
fsr-3796	28	7	frm	frm	PROPN
fsr-3796	28	8	rates	rate	NOUN
fsr-3796	28	9	generally	generally	ADV
fsr-3796	28	10	are	be	AUX
fsr-3796	28	11	associated	associate	VERB
fsr-3796	28	12	with	with	ADP
fsr-3796	28	13	a	a	DET
fsr-3796	28	14	higher	high	ADJ
fsr-3796	28	15	percentage	percentage	NOUN
fsr-3796	28	16	of	of	ADP
fsr-3796	28	17	arm	arm	NOUN
fsr-3796	28	18	loans	loan	NOUN
fsr-3796	28	19	.	.	PUNCT
fsr-3796	29	1	sprecher	sprecher	PROPN
fsr-3796	29	2	and	and	CCONJ
fsr-3796	29	3	willman	willman	PROPN
fsr-3796	29	4	(	(	PUNCT
fsr-3796	29	5	1993	1993	NUM
fsr-3796	29	6	)	)	PUNCT
fsr-3796	29	7	have	have	AUX
fsr-3796	29	8	used	use	VERB
fsr-3796	29	9	historical	historical	ADJ
fsr-3796	29	10	data	datum	NOUN
fsr-3796	29	11	to	to	PART
fsr-3796	29	12	determine	determine	VERB
fsr-3796	29	13	if	if	SCONJ
fsr-3796	29	14	borrowers	borrower	NOUN
fsr-3796	29	15	could	could	AUX
fsr-3796	29	16	have	have	AUX
fsr-3796	29	17	achieved	achieve	VERB
fsr-3796	29	18	an	an	DET
fsr-3796	29	19	effectively	effectively	ADV
fsr-3796	29	20	lower	low	ADJ
fsr-3796	29	21	mortgage	mortgage	NOUN
fsr-3796	29	22	rate	rate	NOUN
fsr-3796	29	23	using	use	VERB
fsr-3796	29	24	an	an	DET
fsr-3796	29	25	arm	arm	NOUN
fsr-3796	29	26	during	during	ADP
fsr-3796	29	27	a	a	DET
fsr-3796	29	28	period	period	NOUN
fsr-3796	29	29	(	(	PUNCT
fsr-3796	29	30	1987	1987	NUM
fsr-3796	29	31	to	to	ADP
fsr-3796	29	32	1991	1991	NUM
fsr-3796	29	33	)	)	PUNCT
fsr-3796	29	34	in	in	ADP
fsr-3796	29	35	which	which	PRON
fsr-3796	29	36	rates	rate	NOUN
fsr-3796	29	37	began	begin	VERB
fsr-3796	29	38	relatively	relatively	ADV
fsr-3796	29	39	low	low	ADJ
fsr-3796	29	40	and	and	CCONJ
fsr-3796	29	41	then	then	ADV
fsr-3796	29	42	increased	increase	VERB
fsr-3796	29	43	.	.	PUNCT
fsr-3796	30	1	they	they	PRON
fsr-3796	30	2	collected	collect	VERB
fsr-3796	30	3	a	a	DET
fsr-3796	30	4	sample	sample	NOUN
fsr-3796	30	5	of	of	ADP
fsr-3796	30	6	arm	arm	NOUN
fsr-3796	30	7	and	and	CCONJ
fsr-3796	30	8	frm	frm	PROPN
fsr-3796	30	9	loans	loan	NOUN
fsr-3796	30	10	initiated	initiate	VERB
fsr-3796	30	11	at	at	ADP
fsr-3796	30	12	the	the	DET
fsr-3796	30	13	beginning	beginning	NOUN
fsr-3796	30	14	of	of	ADP
fsr-3796	30	15	this	this	DET
fsr-3796	30	16	period	period	NOUN
fsr-3796	30	17	and	and	CCONJ
fsr-3796	30	18	compared	compare	VERB
fsr-3796	30	19	the	the	DET
fsr-3796	30	20	table	table	NOUN
fsr-3796	30	21	1	1	NUM
fsr-3796	30	22	annual	annual	ADJ
fsr-3796	30	23	averages	average	NOUN
fsr-3796	30	24	for	for	ADP
fsr-3796	30	25	mortgage	mortgage	NOUN
fsr-3796	30	26	interest	interest	NOUN
fsr-3796	30	27	rates	rate	NOUN
fsr-3796	30	28	for	for	ADP
fsr-3796	30	29	existing	exist	VERB
fsr-3796	30	30	homes	home	NOUN
fsr-3796	30	31	,	,	PUNCT
fsr-3796	30	32	1982	1982	NUM
fsr-3796	30	33	-	-	SYM
fsr-3796	30	34	1994	1994	NUM
fsr-3796	30	35	.	.	PUNCT
fsr-3796	31	1	excludes	exclude	NOUN
fsr-3796	31	2	refinancing	refinance	VERB
fsr-3796	31	3	loans	loan	NOUN
fsr-3796	31	4	and	and	CCONJ
fsr-3796	31	5	federally	federally	ADV
fsr-3796	31	6	underwritten	underwritten	ADJ
fsr-3796	31	7	loans	loan	NOUN
fsr-3796	31	8	year	year	NOUN
fsr-3796	31	9	contract	contract	NOUN
fsr-3796	31	10	interest	interest	NOUN
fsr-3796	31	11	rate	rate	NOUN
fsr-3796	31	12	(	(	PUNCT
fsr-3796	31	13	percent	percent	NOUN
fsr-3796	31	14	):	):	PUNCT
fsr-3796	31	15	percent	percent	NOUN
fsr-3796	31	16	of	of	ADP
fsr-3796	31	17	number	number	NOUN
fsr-3796	31	18	of	of	ADP
fsr-3796	31	19	loans	loan	NOUN
fsr-3796	31	20	with	with	ADP
fsr-3796	31	21	:	:	PUNCT
fsr-3796	31	22	fixed	fix	VERB
fsr-3796	31	23	rate	rate	NOUN
fsr-3796	31	24	a&stable	a&stable	ADJ
fsr-3796	31	25	rate	rate	NOUN
fsr-3796	31	26	fixed	fix	VERB
fsr-3796	31	27	rate	rate	NOUN
fsr-3796	31	28	adjustable	adjustable	ADJ
fsr-3796	31	29	rate	rate	NOUN
fsr-3796	31	30	1982	1982	NUM
fsr-3796	31	31	14.8	14.8	NUM
fsr-3796	31	32	14.7	14.7	NUM
fsr-3796	31	33	61	61	NUM
fsr-3796	31	34	39	39	NUM
fsr-3796	31	35	1983	1983	NUM
fsr-3796	31	36	12.6	12.6	NUM
fsr-3796	31	37	11.9	11.9	NUM
fsr-3796	31	38	59	59	NUM
fsr-3796	31	39	41	41	NUM
fsr-3796	31	40	1984	1984	NUM
fsr-3796	31	41	12.1	12.1	NUM
fsr-3796	31	42	11.6	11.6	NUM
fsr-3796	31	43	36	36	NUM
fsr-3796	31	44	64	64	NUM
fsr-3796	31	45	198.5	198.5	NUM
fsr-3796	31	46	11.9	11.9	NUM
fsr-3796	31	47	10.5	10.5	NUM
fsr-3796	31	48	50	50	NUM
fsr-3796	31	49	50	50	NUM
fsr-3796	31	50	1986	1986	NUM
fsr-3796	31	51	10.1	10.1	NUM
fsr-3796	31	52	9.1	9.1	NUM
fsr-3796	31	53	69	69	NUM
fsr-3796	31	54	31	31	NUM
fsr-3796	31	55	1987	1987	NUM
fsr-3796	31	56	9.5	9.5	NUM
fsr-3796	31	57	8.2	8.2	NUM
fsr-3796	31	58	56	56	NUM
fsr-3796	31	59	44	44	NUM
fsr-3796	31	60	1988	1988	NUM
fsr-3796	31	61	10.1	10.1	NUM
fsr-3796	31	62	8.2	8.2	NUM
fsr-3796	31	63	76	76	NUM
fsr-3796	31	64	24	24	NUM
fsr-3796	31	65	1989	1989	NUM
fsr-3796	31	66	10.2	10.2	NUM
fsr-3796	31	67	9.2	9.2	NUM
fsr-3796	31	68	63	63	NUM
fsr-3796	31	69	31	31	NUM
fsr-3796	31	70	1990	1990	NUM
fsr-3796	31	71	10.4	10.4	NUM
fsr-3796	31	72	9.2	9.2	NUM
fsr-3796	31	73	73	73	NUM
fsr-3796	31	74	21	21	NUM
fsr-3796	31	75	1991	1991	NUM
fsr-3796	31	76	9.7	9.7	NUM
fsr-3796	31	77	8.2	8.2	NUM
fsr-3796	31	78	78	78	NUM
fsr-3796	31	79	22	22	NUM
fsr-3796	31	80	1992	1992	NUM
fsr-3796	31	81	8.5	8.5	NUM
fsr-3796	31	82	6.5	6.5	NUM
fsr-3796	31	83	79	79	NUM
fsr-3796	31	84	21	21	NUM
fsr-3796	31	85	1993	1993	NUM
fsr-3796	31	86	7.5	7.5	NUM
fsr-3796	31	87	5.7	5.7	NUM
fsr-3796	31	88	so	so	ADV
fsr-3796	31	89	20	20	NUM
fsr-3796	31	90	1994	1994	NUM
fsr-3796	31	91	8.2	8.2	NUM
fsr-3796	31	92	6.4	6.4	NUM
fsr-3796	31	93	61	61	NUM
fsr-3796	31	94	39	39	NUM
fsr-3796	31	95	source	source	NOUN
fsr-3796	31	96	:	:	PUNCT
fsr-3796	31	97	statistical	statistical	ADJ
fsr-3796	31	98	abstract	abstract	NOUN
fsr-3796	31	99	of	of	ADP
fsr-3796	31	100	the	the	DET
fsr-3796	31	101	united	united	PROPN
fsr-3796	31	102	states	states	PROPN
fsr-3796	31	103	,	,	PUNCT
fsr-3796	31	104	various	various	ADJ
fsr-3796	31	105	years	year	NOUN
fsr-3796	31	106	.	.	PUNCT
fsr-3796	32	1	fined	fine	VERB
fsr-3796	32	2	and	and	CCONJ
fsr-3796	32	3	adjustable	adjustable	ADJ
fsr-3796	32	4	rate	rate	NOUN
fsr-3796	32	5	mortgages	mortgage	NOUN
fsr-3796	32	6	103	103	NUM
fsr-3796	32	7	effective	effective	ADJ
fsr-3796	32	8	rates	rate	NOUN
fsr-3796	32	9	of	of	ADP
fsr-3796	32	10	the	the	DET
fsr-3796	32	11	arms	arm	NOUN
fsr-3796	32	12	for	for	ADP
fsr-3796	32	13	this	this	DET
fsr-3796	32	14	period	period	NOUN
fsr-3796	32	15	to	to	ADP
fsr-3796	32	16	the	the	DET
fsr-3796	32	17	rates	rate	NOUN
fsr-3796	32	18	on	on	ADP
fsr-3796	32	19	the	the	DET
fsr-3796	32	20	frms	frm	NOUN
fsr-3796	32	21	.	.	PUNCT
fsr-3796	33	1	they	they	PRON
fsr-3796	33	2	found	find	VERB
fsr-3796	33	3	the	the	DET
fsr-3796	33	4	arm	arm	NOUN
fsr-3796	33	5	borrowers	borrower	NOUN
fsr-3796	33	6	paid	pay	VERB
fsr-3796	33	7	an	an	DET
fsr-3796	33	8	effective	effective	ADJ
fsr-3796	33	9	rate	rate	NOUN
fsr-3796	33	10	that	that	PRON
fsr-3796	33	11	was	be	AUX
fsr-3796	33	12	150	150	NUM
fsr-3796	33	13	basis	basis	NOUN
fsr-3796	33	14	points	point	NOUN
fsr-3796	33	15	lower	low	ADJ
fsr-3796	33	16	than	than	ADP
fsr-3796	33	17	the	the	DET
fsr-3796	33	18	frm	frm	PROPN
fsr-3796	33	19	borrowers	borrower	NOUN
fsr-3796	33	20	paid	pay	VERB
fsr-3796	33	21	.	.	PUNCT
fsr-3796	34	1	in	in	ADP
fsr-3796	34	2	the	the	DET
fsr-3796	34	3	present	present	ADJ
fsr-3796	34	4	study	study	NOUN
fsr-3796	34	5	,	,	PUNCT
fsr-3796	34	6	both	both	PRON
fsr-3796	34	7	of	of	ADP
fsr-3796	34	8	these	these	DET
fsr-3796	34	9	issues	issue	NOUN
fsr-3796	34	10	surface	surface	VERB
fsr-3796	34	11	.	.	PUNCT
fsr-3796	35	1	in	in	ADP
fsr-3796	35	2	the	the	DET
fsr-3796	35	3	first	first	ADJ
fsr-3796	35	4	reported	report	VERB
fsr-3796	35	5	simulation	simulation	NOUN
fsr-3796	35	6	,	,	PUNCT
fsr-3796	35	7	rates	rate	NOUN
fsr-3796	35	8	were	be	AUX
fsr-3796	35	9	relatively	relatively	ADV
fsr-3796	35	10	low	low	ADJ
fsr-3796	35	11	,	,	PUNCT
fsr-3796	35	12	but	but	CCONJ
fsr-3796	35	13	the	the	DET
fsr-3796	35	14	arm	arm	NOUN
fsr-3796	35	15	offered	offer	VERB
fsr-3796	35	16	a	a	DET
fsr-3796	35	17	large	large	ADJ
fsr-3796	35	18	initial	initial	ADJ
fsr-3796	35	19	rate	rate	NOUN
fsr-3796	35	20	advantage	advantage	NOUN
fsr-3796	35	21	.	.	PUNCT
fsr-3796	36	1	in	in	ADP
fsr-3796	36	2	the	the	DET
fsr-3796	36	3	second	second	ADJ
fsr-3796	36	4	simulation	simulation	NOUN
fsr-3796	36	5	,	,	PUNCT
fsr-3796	36	6	rates	rate	NOUN
fsr-3796	36	7	were	be	AUX
fsr-3796	36	8	relatively	relatively	ADV
fsr-3796	36	9	high	high	ADJ
fsr-3796	36	10	and	and	CCONJ
fsr-3796	36	11	the	the	DET
fsr-3796	36	12	initial	initial	ADJ
fsr-3796	36	13	rate	rate	NOUN
fsr-3796	36	14	advantage	advantage	NOUN
fsr-3796	36	15	of	of	ADP
fsr-3796	36	16	the	the	DET
fsr-3796	36	17	arm	arm	NOUN
fsr-3796	36	18	was	be	AUX
fsr-3796	36	19	much	much	ADV
fsr-3796	36	20	narrower	narrow	ADJ
fsr-3796	36	21	.	.	PUNCT
fsr-3796	37	1	a	a	DET
fsr-3796	37	2	survey	survey	NOUN
fsr-3796	37	3	conducted	conduct	VERB
fsr-3796	37	4	by	by	ADP
fsr-3796	37	5	lino	lino	NOUN
fsr-3796	37	6	(	(	PUNCT
fsr-3796	37	7	1992	1992	NUM
fsr-3796	37	8	)	)	PUNCT
fsr-3796	37	9	looked	look	VERB
fsr-3796	37	10	into	into	ADP
fsr-3796	37	11	borrower	borrower	NOUN
fsr-3796	37	12	perception	perception	NOUN
fsr-3796	37	13	of	of	ADP
fsr-3796	37	14	mortgage	mortgage	NOUN
fsr-3796	37	15	costs	cost	NOUN
fsr-3796	37	16	and	and	CCONJ
fsr-3796	37	17	risks	risk	NOUN
fsr-3796	37	18	.	.	PUNCT
fsr-3796	38	1	he	he	PRON
fsr-3796	38	2	found	find	VERB
fsr-3796	38	3	that	that	SCONJ
fsr-3796	38	4	borrowers	borrower	NOUN
fsr-3796	38	5	did	do	AUX
fsr-3796	38	6	not	not	PART
fsr-3796	38	7	properly	properly	ADV
fsr-3796	38	8	incorporate	incorporate	VERB
fsr-3796	38	9	expected	expect	VERB
fsr-3796	38	10	cost	cost	NOUN
fsr-3796	38	11	into	into	ADP
fsr-3796	38	12	their	their	PRON
fsr-3796	38	13	decision	decision	NOUN
fsr-3796	38	14	making	making	NOUN
fsr-3796	38	15	.	.	PUNCT
fsr-3796	39	1	he	he	PRON
fsr-3796	39	2	surveyed	survey	VERB
fsr-3796	39	3	recent	recent	ADJ
fsr-3796	39	4	mortgage	mortgage	NOUN
fsr-3796	39	5	borrowers	borrower	NOUN
fsr-3796	39	6	and	and	CCONJ
fsr-3796	39	7	found	find	VERB
fsr-3796	39	8	that	that	SCONJ
fsr-3796	39	9	many	many	ADJ
fsr-3796	39	10	were	be	AUX
fsr-3796	39	11	unable	unable	ADJ
fsr-3796	39	12	to	to	PART
fsr-3796	39	13	correctly	correctly	ADV
fsr-3796	39	14	determine	determine	VERB
fsr-3796	39	15	which	which	DET
fsr-3796	39	16	type	type	NOUN
fsr-3796	39	17	of	of	ADP
fsr-3796	39	18	mortgage	mortgage	NOUN
fsr-3796	39	19	had	have	VERB
fsr-3796	39	20	the	the	DET
fsr-3796	39	21	higher	high	ADJ
fsr-3796	39	22	expected	expect	VERB
fsr-3796	39	23	present	present	ADJ
fsr-3796	39	24	value	value	NOUN
fsr-3796	39	25	cost	cost	NOUN
fsr-3796	39	26	based	base	VERB
fsr-3796	39	27	on	on	ADP
fsr-3796	39	28	the	the	DET
fsr-3796	39	29	borrowers	borrower	NOUN
fsr-3796	39	30	’	'	PUNCT
fsr-3796	39	31	own	own	ADJ
fsr-3796	39	32	expectations	expectation	NOUN
fsr-3796	39	33	for	for	ADP
fsr-3796	39	34	interest	interest	NOUN
fsr-3796	39	35	rate	rate	NOUN
fsr-3796	39	36	changes	change	NOUN
fsr-3796	39	37	and	and	CCONJ
fsr-3796	39	38	the	the	DET
fsr-3796	39	39	life	life	NOUN
fsr-3796	39	40	of	of	ADP
fsr-3796	39	41	the	the	DET
fsr-3796	39	42	mort	mort	PROPN
fsr-3796	39	43	gage	gage	PROPN
fsr-3796	39	44	.	.	PUNCT
fsr-3796	40	1	for	for	ADP
fsr-3796	40	2	example	example	NOUN
fsr-3796	40	3	,	,	PUNCT
fsr-3796	40	4	borrowers	borrower	NOUN
fsr-3796	40	5	who	who	PRON
fsr-3796	40	6	expected	expect	VERB
fsr-3796	40	7	interest	interest	NOUN
fsr-3796	40	8	rates	rate	NOUN
fsr-3796	40	9	to	to	PART
fsr-3796	40	10	fall	fall	VERB
fsr-3796	40	11	and	and	CCONJ
fsr-3796	40	12	who	who	PRON
fsr-3796	40	13	expected	expect	VERB
fsr-3796	40	14	to	to	PART
fsr-3796	40	15	reside	reside	VERB
fsr-3796	40	16	in	in	ADP
fsr-3796	40	17	their	their	PRON
fsr-3796	40	18	homes	home	NOUN
fsr-3796	40	19	for	for	ADP
fsr-3796	40	20	less	less	ADJ
fsr-3796	40	21	than	than	ADP
fsr-3796	40	22	8	8	NUM
fsr-3796	40	23	years	year	NOUN
fsr-3796	40	24	should	should	AUX
fsr-3796	40	25	have	have	AUX
fsr-3796	40	26	viewed	view	VERB
fsr-3796	40	27	the	the	DET
fsr-3796	40	28	arm	arm	NOUN
fsr-3796	40	29	as	as	ADP
fsr-3796	40	30	the	the	DET
fsr-3796	40	31	lower	low	ADJ
fsr-3796	40	32	cost	cost	NOUN
fsr-3796	40	33	alterna	alterna	PROPN
fsr-3796	40	34	tive	tive	PROPN
fsr-3796	40	35	.	.	PUNCT
fsr-3796	41	1	lino	lino	PROPN
fsr-3796	41	2	found	find	VERB
fsr-3796	41	3	that	that	SCONJ
fsr-3796	41	4	30	30	NUM
fsr-3796	41	5	percent	percent	NOUN
fsr-3796	41	6	of	of	ADP
fsr-3796	41	7	these	these	DET
fsr-3796	41	8	actual	actual	ADJ
fsr-3796	41	9	borrowers	borrower	NOUN
fsr-3796	41	10	thought	think	VERB
fsr-3796	41	11	the	the	DET
fsr-3796	41	12	relative	relative	ADJ
fsr-3796	41	13	cost	cost	NOUN
fsr-3796	41	14	of	of	ADP
fsr-3796	41	15	frms	frm	NOUN
fsr-3796	41	16	and	and	CCONJ
fsr-3796	41	17	arms	arm	NOUN
fsr-3796	41	18	was	be	AUX
fsr-3796	41	19	the	the	DET
fsr-3796	41	20	same	same	ADJ
fsr-3796	41	21	under	under	ADP
fsr-3796	41	22	these	these	DET
fsr-3796	41	23	conditions	condition	NOUN
fsr-3796	41	24	.	.	PUNCT
fsr-3796	42	1	those	those	DET
fsr-3796	42	2	borrowers	borrower	NOUN
fsr-3796	42	3	who	who	PRON
fsr-3796	42	4	expected	expect	VERB
fsr-3796	42	5	rates	rate	NOUN
fsr-3796	42	6	to	to	PART
fsr-3796	42	7	increase	increase	VERB
fsr-3796	42	8	and	and	CCONJ
fsr-3796	42	9	who	who	PRON
fsr-3796	42	10	planned	plan	VERB
fsr-3796	42	11	a	a	DET
fsr-3796	42	12	residency	residency	NOUN
fsr-3796	42	13	of	of	ADP
fsr-3796	42	14	more	more	ADJ
fsr-3796	42	15	than	than	ADP
fsr-3796	42	16	12	12	NUM
fsr-3796	42	17	years	year	NOUN
fsr-3796	42	18	should	should	AUX
fsr-3796	42	19	have	have	AUX
fsr-3796	42	20	viewed	view	VERB
fsr-3796	42	21	the	the	DET
fsr-3796	42	22	frm	frm	PROPN
fsr-3796	42	23	as	as	ADP
fsr-3796	42	24	the	the	DET
fsr-3796	42	25	lower	low	ADJ
fsr-3796	42	26	cost	cost	NOUN
fsr-3796	42	27	alternative	alternative	NOUN
fsr-3796	42	28	.	.	PUNCT
fsr-3796	43	1	lino	lino	NOUN
fsr-3796	43	2	found	find	VERB
fsr-3796	43	3	10	10	NUM
fsr-3796	43	4	percent	percent	NOUN
fsr-3796	43	5	perceived	perceive	VERB
fsr-3796	43	6	the	the	DET
fsr-3796	43	7	frm	frm	PROPN
fsr-3796	43	8	as	as	ADP
fsr-3796	43	9	the	the	DET
fsr-3796	43	10	higher	high	ADJ
fsr-3796	43	11	cost	cost	NOUN
fsr-3796	43	12	alternative	alternative	NOUN
fsr-3796	43	13	and	and	CCONJ
fsr-3796	43	14	another	another	DET
fsr-3796	43	15	19	19	NUM
fsr-3796	43	16	percent	percent	NOUN
fsr-3796	43	17	thought	think	VERB
fsr-3796	43	18	there	there	PRON
fsr-3796	43	19	was	be	VERB
fsr-3796	43	20	no	no	DET
fsr-3796	43	21	difference	difference	NOUN
fsr-3796	43	22	in	in	ADP
fsr-3796	43	23	cost	cost	NOUN
fsr-3796	43	24	under	under	ADP
fsr-3796	43	25	these	these	DET
fsr-3796	43	26	expectations	expectation	NOUN
fsr-3796	43	27	.	.	PUNCT
fsr-3796	44	1	thus	thus	ADV
fsr-3796	44	2	,	,	PUNCT
fsr-3796	44	3	the	the	DET
fsr-3796	44	4	ability	ability	NOUN
fsr-3796	44	5	to	to	PART
fsr-3796	44	6	predict	predict	VERB
fsr-3796	44	7	interest	interest	NOUN
fsr-3796	44	8	rate	rate	NOUN
fsr-3796	44	9	movements	movement	NOUN
fsr-3796	44	10	and	and	CCONJ
fsr-3796	44	11	length	length	NOUN
fsr-3796	44	12	of	of	ADP
fsr-3796	44	13	residency	residency	NOUN
fsr-3796	44	14	is	be	AUX
fsr-3796	44	15	often	often	ADV
fsr-3796	44	16	beside	beside	ADP
fsr-3796	44	17	the	the	DET
fsr-3796	44	18	point	point	NOUN
fsr-3796	44	19	for	for	ADP
fsr-3796	44	20	borrowers	borrower	NOUN
fsr-3796	44	21	.	.	PUNCT
fsr-3796	45	1	a	a	DET
fsr-3796	45	2	substantial	substantial	ADJ
fsr-3796	45	3	minority	minority	NOUN
fsr-3796	45	4	are	be	AUX
fsr-3796	45	5	unable	unable	ADJ
fsr-3796	45	6	to	to	PART
fsr-3796	45	7	select	select	VERB
fsr-3796	45	8	the	the	DET
fsr-3796	45	9	low	low	ADJ
fsr-3796	45	10	-	-	PUNCT
fsr-3796	45	11	er	er	INTJ
fsr-3796	45	12	cost	cost	NOUN
fsr-3796	45	13	alternative	alternative	NOUN
fsr-3796	45	14	even	even	ADV
fsr-3796	45	15	given	give	VERB
fsr-3796	45	16	these	these	DET
fsr-3796	45	17	factors	factor	NOUN
fsr-3796	45	18	.	.	PUNCT
fsr-3796	46	1	lino	lino	NOUN
fsr-3796	46	2	also	also	ADV
fsr-3796	46	3	has	have	AUX
fsr-3796	46	4	shown	show	VERB
fsr-3796	46	5	that	that	SCONJ
fsr-3796	46	6	the	the	DET
fsr-3796	46	7	financial	financial	ADJ
fsr-3796	46	8	planning	planning	NOUN
fsr-3796	46	9	aspect	aspect	NOUN
fsr-3796	46	10	of	of	ADP
fsr-3796	46	11	the	the	DET
fsr-3796	46	12	mortgage	mortgage	NOUN
fsr-3796	46	13	payment	payment	NOUN
fsr-3796	46	14	commitment	commitment	NOUN
fsr-3796	46	15	and	and	CCONJ
fsr-3796	46	16	the	the	DET
fsr-3796	46	17	perceived	perceive	VERB
fsr-3796	46	18	risk	risk	NOUN
fsr-3796	46	19	of	of	ADP
fsr-3796	46	20	arms	arm	NOUN
fsr-3796	46	21	are	be	AUX
fsr-3796	46	22	quite	quite	ADV
fsr-3796	46	23	important	important	ADJ
fsr-3796	46	24	to	to	ADP
fsr-3796	46	25	borrowers	borrower	NOUN
fsr-3796	46	26	.	.	PUNCT
fsr-3796	47	1	indeed	indeed	ADV
fsr-3796	47	2	,	,	PUNCT
fsr-3796	47	3	these	these	DET
fsr-3796	47	4	factors	factor	NOUN
fsr-3796	47	5	were	be	AUX
fsr-3796	47	6	significant	significant	ADJ
fsr-3796	47	7	in	in	ADP
fsr-3796	47	8	a	a	DET
fsr-3796	47	9	logit	logit	NOUN
fsr-3796	47	10	analysis	analysis	NOUN
fsr-3796	47	11	predicting	predict	VERB
fsr-3796	47	12	mortgage	mortgage	NOUN
fsr-3796	47	13	choice	choice	NOUN
fsr-3796	47	14	,	,	PUNCT
fsr-3796	47	15	while	while	SCONJ
fsr-3796	47	16	cost	cost	NOUN
fsr-3796	47	17	variables	variable	NOUN
fsr-3796	47	18	were	be	AUX
fsr-3796	47	19	not	not	PART
fsr-3796	47	20	significant	significant	ADJ
fsr-3796	47	21	.	.	PUNCT
fsr-3796	48	1	borrowers	borrower	NOUN
fsr-3796	48	2	may	may	AUX
fsr-3796	48	3	be	be	AUX
fsr-3796	48	4	well	well	ADV
fsr-3796	48	5	served	serve	VERB
fsr-3796	48	6	by	by	ADP
fsr-3796	48	7	a	a	DET
fsr-3796	48	8	method	method	NOUN
fsr-3796	48	9	offering	offer	VERB
fsr-3796	48	10	insight	insight	NOUN
fsr-3796	48	11	into	into	ADP
fsr-3796	48	12	the	the	DET
fsr-3796	48	13	risk	risk	NOUN
fsr-3796	48	14	and	and	CCONJ
fsr-3796	48	15	planning	planning	NOUN
fsr-3796	48	16	aspects	aspect	NOUN
fsr-3796	48	17	of	of	ADP
fsr-3796	48	18	arms	arm	NOUN
fsr-3796	48	19	.	.	PUNCT
fsr-3796	49	1	yohannes	yohanne	NOUN
fsr-3796	49	2	(	(	PUNCT
fsr-3796	49	3	1991	1991	NUM
fsr-3796	49	4	)	)	PUNCT
fsr-3796	49	5	and	and	CCONJ
fsr-3796	49	6	tucker	tucker	PROPN
fsr-3796	49	7	(	(	PUNCT
fsr-3796	49	8	1991	1991	NUM
fsr-3796	49	9	)	)	PUNCT
fsr-3796	49	10	have	have	AUX
fsr-3796	49	11	offered	offer	VERB
fsr-3796	49	12	frameworks	framework	NOUN
fsr-3796	49	13	for	for	ADP
fsr-3796	49	14	helping	help	VERB
fsr-3796	49	15	individuals	individual	NOUN
fsr-3796	49	16	better	well	ADV
fsr-3796	49	17	make	make	VERB
fsr-3796	49	18	the	the	DET
fsr-3796	49	19	arm	arm	NOUN
fsr-3796	49	20	-	-	PUNCT
fsr-3796	49	21	frm	frm	PROPN
fsr-3796	49	22	choice	choice	NOUN
fsr-3796	49	23	.	.	PUNCT
fsr-3796	50	1	yohannes	yohanne	NOUN
fsr-3796	50	2	(	(	PUNCT
fsr-3796	50	3	1991	1991	NUM
fsr-3796	50	4	)	)	PUNCT
fsr-3796	50	5	has	have	AUX
fsr-3796	50	6	suggested	suggest	VERB
fsr-3796	50	7	using	use	VERB
fsr-3796	50	8	interest	interest	NOUN
fsr-3796	50	9	rate	rate	NOUN
fsr-3796	50	10	changes	change	NOUN
fsr-3796	50	11	implied	imply	VERB
fsr-3796	50	12	by	by	ADP
fsr-3796	50	13	forward	forward	ADJ
fsr-3796	50	14	rates	rate	NOUN
fsr-3796	50	15	to	to	PART
fsr-3796	50	16	construct	construct	VERB
fsr-3796	50	17	an	an	DET
fsr-3796	50	18	expected	expect	VERB
fsr-3796	50	19	breakeven	breakeven	ADJ
fsr-3796	50	20	number	number	NOUN
fsr-3796	50	21	of	of	ADP
fsr-3796	50	22	years	year	NOUN
fsr-3796	50	23	before	before	SCONJ
fsr-3796	50	24	the	the	DET
fsr-3796	50	25	present	present	ADJ
fsr-3796	50	26	value	value	NOUN
fsr-3796	50	27	cost	cost	NOUN
fsr-3796	50	28	of	of	ADP
fsr-3796	50	29	an	an	DET
fsr-3796	50	30	arm	arm	NOUN
fsr-3796	50	31	exceeds	exceed	VERB
fsr-3796	50	32	that	that	PRON
fsr-3796	50	33	of	of	ADP
fsr-3796	50	34	an	an	DET
fsr-3796	50	35	frm	frm	PROPN
fsr-3796	50	36	.	.	PUNCT
fsr-3796	51	1	this	this	PRON
fsr-3796	51	2	expected	expect	VERB
fsr-3796	51	3	breakeven	breakeven	ADJ
fsr-3796	51	4	period	period	NOUN
fsr-3796	51	5	,	,	PUNCT
fsr-3796	51	6	along	along	ADP
fsr-3796	51	7	with	with	ADP
fsr-3796	51	8	a	a	DET
fsr-3796	51	9	worst	bad	ADJ
fsr-3796	51	10	case	case	NOUN
fsr-3796	51	11	scenario	scenario	NOUN
fsr-3796	51	12	breakeven	breakeven	NOUN
fsr-3796	51	13	period	period	NOUN
fsr-3796	51	14	,	,	PUNCT
fsr-3796	51	15	offers	offer	VERB
fsr-3796	51	16	some	some	DET
fsr-3796	51	17	guidance	guidance	NOUN
fsr-3796	51	18	in	in	ADP
fsr-3796	51	19	making	make	VERB
fsr-3796	51	20	the	the	DET
fsr-3796	51	21	choice	choice	NOUN
fsr-3796	51	22	.	.	PUNCT
fsr-3796	52	1	this	this	DET
fsr-3796	52	2	approach	approach	NOUN
fsr-3796	52	3	is	be	AUX
fsr-3796	52	4	limited	limit	VERB
fsr-3796	52	5	in	in	ADP
fsr-3796	52	6	that	that	SCONJ
fsr-3796	52	7	it	it	PRON
fsr-3796	52	8	offers	offer	VERB
fsr-3796	52	9	just	just	ADV
fsr-3796	52	10	the	the	DET
fsr-3796	52	11	two	two	NUM
fsr-3796	52	12	cases	case	NOUN
fsr-3796	52	13	and	and	CCONJ
fsr-3796	52	14	concerns	concern	NOUN
fsr-3796	52	15	itself	itself	PRON
fsr-3796	52	16	only	only	ADV
fsr-3796	52	17	with	with	ADP
fsr-3796	52	18	the	the	DET
fsr-3796	52	19	present	present	ADJ
fsr-3796	52	20	value	value	NOUN
fsr-3796	52	21	cost	cost	NOUN
fsr-3796	52	22	breakeven	breakeven	ADJ
fsr-3796	52	23	period	period	NOUN
fsr-3796	52	24	.	.	PUNCT
fsr-3796	53	1	tucker	tucker	PROPN
fsr-3796	53	2	(	(	PUNCT
fsr-3796	53	3	199	199	NUM
fsr-3796	53	4	1	1	NUM
fsr-3796	53	5	)	)	PUNCT
fsr-3796	53	6	has	have	AUX
fsr-3796	53	7	shown	show	VERB
fsr-3796	53	8	that	that	SCONJ
fsr-3796	53	9	simulation	simulation	NOUN
fsr-3796	53	10	can	can	AUX
fsr-3796	53	11	reveal	reveal	VERB
fsr-3796	53	12	important	important	ADJ
fsr-3796	53	13	information	information	NOUN
fsr-3796	53	14	related	relate	VERB
fsr-3796	53	15	to	to	ADP
fsr-3796	53	16	the	the	DET
fsr-3796	53	17	expected	expect	VERB
fsr-3796	53	18	costs	cost	NOUN
fsr-3796	53	19	of	of	ADP
fsr-3796	53	20	mortgages	mortgage	NOUN
fsr-3796	53	21	to	to	ADP
fsr-3796	53	22	borrowers	borrower	NOUN
fsr-3796	53	23	.	.	PUNCT
fsr-3796	54	1	he	he	PRON
fsr-3796	54	2	has	have	AUX
fsr-3796	54	3	simulated	simulate	VERB
fsr-3796	54	4	interest	interest	NOUN
fsr-3796	54	5	rate	rate	NOUN
fsr-3796	54	6	changes	change	NOUN
fsr-3796	54	7	to	to	PART
fsr-3796	54	8	demonstrate	demonstrate	VERB
fsr-3796	54	9	the	the	DET
fsr-3796	54	10	present	present	ADJ
fsr-3796	54	11	value	value	NOUN
fsr-3796	54	12	cost	cost	NOUN
fsr-3796	54	13	differential	differential	NOUN
fsr-3796	54	14	for	for	ADP
fsr-3796	54	15	arms	arm	NOUN
fsr-3796	54	16	and	and	CCONJ
fsr-3796	54	17	frms	frm	NOUN
fsr-3796	54	18	assuming	assume	VERB
fsr-3796	54	19	a	a	DET
fsr-3796	54	20	variety	variety	NOUN
fsr-3796	54	21	of	of	ADP
fsr-3796	54	22	opportunity	opportunity	NOUN
fsr-3796	54	23	discount	discount	NOUN
fsr-3796	54	24	rates	rate	NOUN
fsr-3796	54	25	.	.	PUNCT
fsr-3796	55	1	his	his	PRON
fsr-3796	55	2	analysis	analysis	NOUN
fsr-3796	55	3	has	have	AUX
fsr-3796	55	4	shown	show	VERB
fsr-3796	55	5	that	that	SCONJ
fsr-3796	55	6	,	,	PUNCT
fsr-3796	55	7	based	base	VERB
fsr-3796	55	8	on	on	ADP
fsr-3796	55	9	loan	loan	NOUN
fsr-3796	55	10	data	datum	NOUN
fsr-3796	55	11	from	from	ADP
fsr-3796	55	12	a	a	DET
fsr-3796	55	13	connect	connect	NOUN
fsr-3796	55	14	icut	icut	VERB
fsr-3796	55	15	savings	saving	NOUN
fsr-3796	55	16	and	and	CCONJ
fsr-3796	55	17	loan	loan	NOUN
fsr-3796	55	18	institution	institution	NOUN
fsr-3796	55	19	and	and	CCONJ
fsr-3796	55	20	market	market	NOUN
fsr-3796	55	21	conditions	condition	NOUN
fsr-3796	55	22	in	in	ADP
fsr-3796	55	23	1985	1985	NUM
fsr-3796	55	24	to	to	ADP
fsr-3796	55	25	1989	1989	NUM
fsr-3796	55	26	,	,	PUNCT
fsr-3796	55	27	arms	arm	NOUN
fsr-3796	55	28	were	be	AUX
fsr-3796	55	29	often	often	ADV
fsr-3796	55	30	the	the	DET
fsr-3796	55	31	lower	low	ADJ
fsr-3796	55	32	cost	cost	NOUN
fsr-3796	55	33	alternative	alternative	NOUN
fsr-3796	55	34	.	.	PUNCT
fsr-3796	56	1	this	this	DET
fsr-3796	56	2	result	result	NOUN
fsr-3796	56	3	held	hold	VERB
fsr-3796	56	4	particularly	particularly	ADV
fsr-3796	56	5	true	true	ADJ
fsr-3796	56	6	for	for	ADP
fsr-3796	56	7	borrowers	borrower	NOUN
fsr-3796	56	8	who	who	PRON
fsr-3796	56	9	anticipated	anticipate	VERB
fsr-3796	56	10	a	a	DET
fsr-3796	56	11	shorter	short	ADJ
fsr-3796	56	12	life	life	NOUN
fsr-3796	56	13	for	for	ADP
fsr-3796	56	14	their	their	PRON
fsr-3796	56	15	mortgage	mortgage	NOUN
fsr-3796	56	16	and	and	CCONJ
fsr-3796	56	17	had	have	VERB
fsr-3796	56	18	higher	high	ADJ
fsr-3796	56	19	oppo	oppo	NOUN
fsr-3796	56	20	~	~	PUNCT
fsr-3796	56	21	unity	unity	NOUN
fsr-3796	56	22	cost	cost	NOUN
fsr-3796	56	23	discount	discount	NOUN
fsr-3796	56	24	rates	rate	NOUN
fsr-3796	56	25	.	.	PUNCT
fsr-3796	57	1	borrowers	borrower	NOUN
fsr-3796	57	2	with	with	ADP
fsr-3796	57	3	a	a	DET
fsr-3796	57	4	4	4	NUM
fsr-3796	57	5	percent	percent	NOUN
fsr-3796	57	6	discount	discount	NOUN
fsr-3796	57	7	rate	rate	NOUN
fsr-3796	57	8	(	(	PUNCT
fsr-3796	57	9	the	the	DET
fsr-3796	57	10	lowest	low	ADJ
fsr-3796	57	11	rate	rate	NOUN
fsr-3796	57	12	simulated	simulate	VERB
fsr-3796	57	13	in	in	ADP
fsr-3796	57	14	tucker	tucker	PROPN
fsr-3796	57	15	’s	’s	PART
fsr-3796	57	16	study	study	NOUN
fsr-3796	57	17	)	)	PUNCT
fsr-3796	57	18	would	would	AUX
fsr-3796	57	19	have	have	AUX
fsr-3796	57	20	found	find	VERB
fsr-3796	57	21	the	the	DET
fsr-3796	57	22	arm	arm	NOUN
fsr-3796	57	23	to	to	PART
fsr-3796	57	24	be	be	AUX
fsr-3796	57	25	the	the	DET
fsr-3796	57	26	lower	low	ADJ
fsr-3796	57	27	expected	expect	VERB
fsr-3796	57	28	cost	cost	NOUN
fsr-3796	57	29	alternative	alternative	NOUN
fsr-3796	57	30	if	if	SCONJ
fsr-3796	57	31	the	the	DET
fsr-3796	57	32	mortgage	mortgage	NOUN
fsr-3796	57	33	life	life	NOUN
fsr-3796	57	34	had	have	AUX
fsr-3796	57	35	been	be	AUX
fsr-3796	57	36	18	18	NUM
fsr-3796	57	37	years	year	NOUN
fsr-3796	57	38	or	or	CCONJ
fsr-3796	57	39	less	less	ADJ
fsr-3796	57	40	.	.	PUNCT
fsr-3796	58	1	borrowers	borrower	NOUN
fsr-3796	58	2	with	with	ADP
fsr-3796	58	3	an	an	DET
fsr-3796	58	4	8	8	NUM
fsr-3796	58	5	percent	percent	NOUN
fsr-3796	58	6	discount	discount	NOUN
fsr-3796	58	7	rate	rate	NOUN
fsr-3796	58	8	would	would	AUX
fsr-3796	58	9	have	have	AUX
fsr-3796	58	10	found	find	VERB
fsr-3796	58	11	that	that	SCONJ
fsr-3796	58	12	the	the	DET
fsr-3796	58	13	arm	arm	NOUN
fsr-3796	58	14	dominated	dominate	VERB
fsr-3796	58	15	the	the	DET
fsr-3796	58	16	frm	frm	PROPN
fsr-3796	58	17	in	in	ADP
fsr-3796	58	18	terms	term	NOUN
fsr-3796	58	19	of	of	ADP
fsr-3796	58	20	expected	expect	VERB
fsr-3796	58	21	present	present	ADJ
fsr-3796	58	22	value	value	NOUN
fsr-3796	58	23	cost	cost	NOUN
fsr-3796	58	24	for	for	ADP
fsr-3796	58	25	any	any	DET
fsr-3796	58	26	mortgage	mortgage	NOUN
fsr-3796	58	27	life	life	NOUN
fsr-3796	58	28	up	up	ADP
fsr-3796	58	29	to	to	PART
fsr-3796	58	30	30	30	NUM
fsr-3796	58	31	years	year	NOUN
fsr-3796	58	32	.	.	PUNCT
fsr-3796	59	1	we	we	PRON
fsr-3796	59	2	know	know	VERB
fsr-3796	59	3	,	,	PUNCT
fsr-3796	59	4	however	however	ADV
fsr-3796	59	5	,	,	PUNCT
fsr-3796	59	6	that	that	SCONJ
fsr-3796	59	7	borrowers	borrower	NOUN
fsr-3796	59	8	are	be	AUX
fsr-3796	59	9	concerned	concern	VERB
fsr-3796	59	10	with	with	ADP
fsr-3796	59	11	factors	factor	NOUN
fsr-3796	59	12	in	in	ADP
fsr-3796	59	13	addition	addition	NOUN
fsr-3796	59	14	to	to	ADP
fsr-3796	59	15	expected	expect	VERB
fsr-3796	59	16	present	present	ADJ
fsr-3796	59	17	value	value	NOUN
fsr-3796	59	18	cost	cost	NOUN
fsr-3796	59	19	.	.	PUNCT
fsr-3796	60	1	both	both	PRON
fsr-3796	60	2	risk	risk	NOUN
fsr-3796	60	3	and	and	CCONJ
fsr-3796	60	4	financial	financial	ADJ
fsr-3796	60	5	planning	planning	NOUN
fsr-3796	60	6	considerations	consideration	NOUN
fsr-3796	60	7	enter	enter	VERB
fsr-3796	60	8	into	into	ADP
fsr-3796	60	9	the	the	DET
fsr-3796	60	10	decision	decision	NOUN
fsr-3796	60	11	.	.	PUNCT
fsr-3796	61	1	104	104	NUM
fsr-3796	61	2	financial	financial	ADJ
fsr-3796	61	3	services	service	NOUN
fsr-3796	61	4	review	review	VERB
fsr-3796	61	5	5(2	5(2	NUM
fsr-3796	61	6	)	)	PUNCT
fsr-3796	61	7	1996	1996	NUM
fsr-3796	61	8	the	the	DET
fsr-3796	61	9	present	present	ADJ
fsr-3796	61	10	study	study	NOUN
fsr-3796	61	11	extends	extend	VERB
fsr-3796	61	12	the	the	DET
fsr-3796	61	13	simulation	simulation	NOUN
fsr-3796	61	14	approach	approach	NOUN
fsr-3796	61	15	to	to	ADP
fsr-3796	61	16	making	make	VERB
fsr-3796	61	17	the	the	DET
fsr-3796	61	18	arm	arm	NOUN
fsr-3796	61	19	-	-	PUNCT
fsr-3796	61	20	frm	frm	PROPN
fsr-3796	61	21	choice	choice	NOUN
fsr-3796	61	22	by	by	ADP
fsr-3796	61	23	including	include	VERB
fsr-3796	61	24	additional	additional	ADJ
fsr-3796	61	25	factors	factor	NOUN
fsr-3796	61	26	important	important	ADJ
fsr-3796	61	27	to	to	ADP
fsr-3796	61	28	borrowers	borrower	NOUN
fsr-3796	61	29	.	.	PUNCT
fsr-3796	62	1	in	in	ADP
fsr-3796	62	2	this	this	DET
fsr-3796	62	3	study	study	NOUN
fsr-3796	62	4	,	,	PUNCT
fsr-3796	62	5	we	we	PRON
fsr-3796	62	6	compare	compare	VERB
fsr-3796	62	7	a	a	DET
fsr-3796	62	8	thirty	thirty	NUM
fsr-3796	62	9	year	year	NOUN
fsr-3796	62	10	annually	annually	ADV
fsr-3796	62	11	adjusted	adjust	VERB
fsr-3796	62	12	arm	arm	NOUN
fsr-3796	62	13	to	to	ADP
fsr-3796	62	14	a	a	DET
fsr-3796	62	15	thirty	thirty	NUM
fsr-3796	62	16	year	year	NOUN
fsr-3796	62	17	frm	frm	PROPN
fsr-3796	62	18	.	.	PUNCT
fsr-3796	63	1	the	the	DET
fsr-3796	63	2	simulation	simulation	NOUN
fsr-3796	63	3	results	result	NOUN
fsr-3796	63	4	provide	provide	VERB
fsr-3796	63	5	informa	informa	ADJ
fsr-3796	63	6	tion	tion	NOUN
fsr-3796	63	7	on	on	ADP
fsr-3796	63	8	the	the	DET
fsr-3796	63	9	present	present	ADJ
fsr-3796	63	10	value	value	NOUN
fsr-3796	63	11	cost	cost	NOUN
fsr-3796	63	12	differentials	differential	NOUN
fsr-3796	63	13	,	,	PUNCT
fsr-3796	63	14	the	the	DET
fsr-3796	63	15	breakeven	breakeven	ADJ
fsr-3796	63	16	period	period	NOUN
fsr-3796	63	17	,	,	PUNCT
fsr-3796	63	18	and	and	CCONJ
fsr-3796	63	19	the	the	DET
fsr-3796	63	20	payment	payment	NOUN
fsr-3796	63	21	size	size	NOUN
fsr-3796	63	22	.	.	PUNCT
fsr-3796	64	1	they	they	PRON
fsr-3796	64	2	provide	provide	VERB
fsr-3796	64	3	both	both	DET
fsr-3796	64	4	expected	expect	VERB
fsr-3796	64	5	values	value	NOUN
fsr-3796	64	6	and	and	CCONJ
fsr-3796	64	7	distributions	distribution	NOUN
fsr-3796	64	8	of	of	ADP
fsr-3796	64	9	these	these	DET
fsr-3796	64	10	values	value	NOUN
fsr-3796	64	11	that	that	PRON
fsr-3796	64	12	would	would	AUX
fsr-3796	64	13	allow	allow	VERB
fsr-3796	64	14	bor	bor	NOUN
fsr-3796	64	15	rowers	rower	NOUN
fsr-3796	64	16	to	to	PART
fsr-3796	64	17	consider	consider	VERB
fsr-3796	64	18	both	both	DET
fsr-3796	64	19	cost	cost	NOUN
fsr-3796	64	20	and	and	CCONJ
fsr-3796	64	21	risk	risk	VERB
fsr-3796	64	22	and	and	CCONJ
fsr-3796	64	23	make	make	VERB
fsr-3796	64	24	a	a	DET
fsr-3796	64	25	more	more	ADV
fsr-3796	64	26	informed	informed	ADJ
fsr-3796	64	27	choice	choice	NOUN
fsr-3796	64	28	.	.	PUNCT
fsr-3796	65	1	even	even	ADV
fsr-3796	65	2	with	with	ADP
fsr-3796	65	3	a	a	DET
fsr-3796	65	4	more	more	ADV
fsr-3796	65	5	complete	complete	ADJ
fsr-3796	65	6	understanding	understanding	NOUN
fsr-3796	65	7	of	of	ADP
fsr-3796	65	8	cost	cost	NOUN
fsr-3796	65	9	and	and	CCONJ
fsr-3796	65	10	risk	risk	NOUN
fsr-3796	65	11	,	,	PUNCT
fsr-3796	65	12	borrower	borrower	NOUN
fsr-3796	65	13	choice	choice	NOUN
fsr-3796	65	14	would	would	AUX
fsr-3796	65	15	likely	likely	ADV
fsr-3796	65	16	depend	depend	VERB
fsr-3796	65	17	on	on	ADP
fsr-3796	65	18	individ	individ	PROPN
fsr-3796	65	19	ual	ual	ADJ
fsr-3796	65	20	risk	risk	NOUN
fsr-3796	65	21	preferences	preference	NOUN
fsr-3796	65	22	.	.	PUNCT
fsr-3796	66	1	ii	ii	X
fsr-3796	66	2	.	.	PUNCT
fsr-3796	66	3	~tho	~tho	NOUN
fsr-3796	66	4	~	~	X
fsr-3796	66	5	ology	ology	NOUN
fsr-3796	66	6	the	the	DET
fsr-3796	66	7	present	present	ADJ
fsr-3796	66	8	value	value	NOUN
fsr-3796	66	9	cost	cost	NOUN
fsr-3796	66	10	of	of	ADP
fsr-3796	66	11	a	a	DET
fsr-3796	66	12	mortgage	mortgage	NOUN
fsr-3796	66	13	is	be	AUX
fsr-3796	66	14	the	the	DET
fsr-3796	66	15	sum	sum	NOUN
fsr-3796	66	16	of	of	ADP
fsr-3796	66	17	the	the	DET
fsr-3796	66	18	discount	discount	NOUN
fsr-3796	66	19	points	point	NOUN
fsr-3796	66	20	,	,	PUNCT
fsr-3796	66	21	the	the	DET
fsr-3796	66	22	present	present	ADJ
fsr-3796	66	23	value	value	NOUN
fsr-3796	66	24	of	of	ADP
fsr-3796	66	25	the	the	DET
fsr-3796	66	26	payments	payment	NOUN
fsr-3796	66	27	,	,	PUNCT
fsr-3796	66	28	and	and	CCONJ
fsr-3796	66	29	the	the	DET
fsr-3796	66	30	present	present	ADJ
fsr-3796	66	31	value	value	NOUN
fsr-3796	66	32	of	of	ADP
fsr-3796	66	33	the	the	DET
fsr-3796	66	34	payoff	payoff	NOUN
fsr-3796	66	35	balance	balance	NOUN
fsr-3796	66	36	.	.	PUNCT
fsr-3796	67	1	the	the	DET
fsr-3796	67	2	discount	discount	NOUN
fsr-3796	67	3	points	point	NOUN
fsr-3796	67	4	and	and	CCONJ
fsr-3796	67	5	the	the	DET
fsr-3796	67	6	interest	interest	NOUN
fsr-3796	67	7	portion	portion	NOUN
fsr-3796	67	8	of	of	ADP
fsr-3796	67	9	the	the	DET
fsr-3796	67	10	payment	payment	NOUN
fsr-3796	67	11	are	be	AUX
fsr-3796	67	12	taken	take	VERB
fsr-3796	67	13	on	on	ADP
fsr-3796	67	14	an	an	DET
fsr-3796	67	15	after	after	ADP
fsr-3796	67	16	-	-	PUNCT
fsr-3796	67	17	tax	tax	NOUN
fsr-3796	67	18	basis	basis	NOUN
fsr-3796	67	19	.	.	PUNCT
fsr-3796	68	1	mathematically	mathematically	ADV
fsr-3796	68	2	,	,	PUNCT
fsr-3796	68	3	the	the	DET
fsr-3796	68	4	present	present	ADJ
fsr-3796	68	5	value	value	NOUN
fsr-3796	68	6	cost	cost	NOUN
fsr-3796	68	7	can	can	AUX
fsr-3796	68	8	be	be	AUX
fsr-3796	68	9	expressed	express	VERB
fsr-3796	68	10	as	as	ADP
fsr-3796	68	11	i	i	PRON
fsr-3796	68	12	t	t	PROPN
fsr-3796	68	13	epmt	epmt	PROPN
fsr-3796	68	14	,	,	PUNCT
fsr-3796	68	15	ft	ft	PROPN
fsr-3796	68	16	.	.	PUNCT
fsr-3796	69	1	(	(	PUNCT
fsr-3796	69	2	q)l	q)l	ADJ
fsr-3796	69	3	pvcost	pvcost	PRON
fsr-3796	69	4	=	=	NOUN
fsr-3796	69	5	m~(p)~(l	m~(p)~(l	PROPN
fsr-3796	69	6	-	-	PUNCT
fsr-3796	69	7	txj)+	txj)+	PROPN
fsr-3796	69	8	t	t	PROPN
fsr-3796	69	9	]	]	PUNCT
fsr-3796	69	10	1	1	NUM
fsr-3796	69	11	b	b	X
fsr-3796	69	12	(	(	PUNCT
fsr-3796	69	13	1	1	NUM
fsr-3796	69	14	+	+	CCONJ
fsr-3796	69	15	‘	'	PUNCT
fsr-3796	69	16	j	j	X
fsr-3796	69	17	+	+	ADJ
fsr-3796	69	18	(	(	PUNCT
fsr-3796	69	19	1	1	NUM
fsr-3796	69	20	)	)	PUNCT
fsr-3796	69	21	t=	t=	NOUN
fsr-3796	69	22	1	1	NUM
fsr-3796	69	23	(	(	PUNCT
fsr-3796	69	24	1	1	NUM
fsr-3796	69	25	+	+	CCONJ
fsr-3796	69	26	qt	qt	NOUN
fsr-3796	69	27	where	where	SCONJ
fsr-3796	69	28	m	m	VERB
fsr-3796	69	29	p	p	ADJ
fsr-3796	69	30	4	4	NUM
fsr-3796	69	31	t	t	NOUN
fsr-3796	69	32	pm4	pm4	NOUN
fsr-3796	69	33	4	4	NUM
fsr-3796	69	34	and	and	CCONJ
fsr-3796	69	35	=	=	SYM
fsr-3796	69	36	the	the	DET
fsr-3796	69	37	mortgage	mortgage	NOUN
fsr-3796	69	38	amount	amount	NOUN
fsr-3796	69	39	=	=	PUNCT
fsr-3796	69	40	the	the	DET
fsr-3796	69	41	discount	discount	NOUN
fsr-3796	69	42	points	point	NOUN
fsr-3796	69	43	rate	rate	NOUN
fsr-3796	69	44	=	=	PUNCT
fsr-3796	69	45	the	the	DET
fsr-3796	69	46	personal	personal	ADJ
fsr-3796	69	47	tax	tax	NOUN
fsr-3796	69	48	rate	rate	NOUN
fsr-3796	69	49	of	of	ADP
fsr-3796	69	50	the	the	DET
fsr-3796	69	51	borrower	borrower	NOUN
fsr-3796	70	1	i	i	PRON
fsr-3796	70	2	=	=	PUNCT
fsr-3796	70	3	the	the	DET
fsr-3796	70	4	assumed	assume	VERB
fsr-3796	70	5	life	life	NOUN
fsr-3796	70	6	of	of	ADP
fsr-3796	70	7	the	the	DET
fsr-3796	70	8	mortgage	mortgage	NOUN
fsr-3796	70	9	in	in	ADP
fsr-3796	70	10	years	year	NOUN
fsr-3796	70	11	=	=	PUNCT
fsr-3796	70	12	the	the	DET
fsr-3796	70	13	mortgage	mortgage	NOUN
fsr-3796	70	14	payment	payment	NOUN
fsr-3796	70	15	at	at	ADP
fsr-3796	70	16	year	year	NOUN
fsr-3796	70	17	t	t	PROPN
fsr-3796	70	18	=	=	PUNCT
fsr-3796	70	19	the	the	DET
fsr-3796	70	20	interest	interest	NOUN
fsr-3796	70	21	portion	portion	NOUN
fsr-3796	70	22	of	of	ADP
fsr-3796	70	23	the	the	DET
fsr-3796	70	24	payment	payment	NOUN
fsr-3796	70	25	in	in	ADP
fsr-3796	70	26	dollars	dollar	NOUN
fsr-3796	70	27	at	at	ADP
fsr-3796	70	28	year	year	NOUN
fsr-3796	70	29	t	t	PROPN
fsr-3796	70	30	=	=	PUNCT
fsr-3796	70	31	the	the	DET
fsr-3796	70	32	oppo	oppo	ADJ
fsr-3796	70	33	~	~	PUNCT
fsr-3796	70	34	unity	unity	NOUN
fsr-3796	70	35	cost	cost	NOUN
fsr-3796	70	36	discount	discount	NOUN
fsr-3796	70	37	rate	rate	NOUN
fsr-3796	70	38	for	for	ADP
fsr-3796	70	39	borrower	borrower	NOUN
fsr-3796	70	40	i	i	PRON
fsr-3796	70	41	=	=	PUNCT
fsr-3796	70	42	the	the	DET
fsr-3796	70	43	payoff	payoff	NOUN
fsr-3796	70	44	balance	balance	NOUN
fsr-3796	70	45	at	at	ADP
fsr-3796	70	46	year	year	NOUN
fsr-3796	70	47	t.	t.	PROPN
fsr-3796	70	48	a	a	DET
fsr-3796	70	49	model	model	NOUN
fsr-3796	70	50	was	be	AUX
fsr-3796	70	51	constructed	construct	VERB
fsr-3796	70	52	in	in	ADP
fsr-3796	70	53	excel	excel	PROPN
fsr-3796	70	54	spreadsheet	spreadsheet	NOUN
fsr-3796	70	55	software	software	NOUN
fsr-3796	70	56	to	to	PART
fsr-3796	70	57	compare	compare	VERB
fsr-3796	70	58	the	the	DET
fsr-3796	70	59	present	present	ADJ
fsr-3796	70	60	value	value	NOUN
fsr-3796	70	61	costs	cost	NOUN
fsr-3796	70	62	of	of	ADP
fsr-3796	70	63	an	an	DET
fsr-3796	70	64	arm	arm	NOUN
fsr-3796	70	65	and	and	CCONJ
fsr-3796	70	66	frm	frm	PROPN
fsr-3796	70	67	over	over	ADP
fsr-3796	70	68	a	a	DET
fsr-3796	70	69	thirty	thirty	NUM
fsr-3796	70	70	year	year	NOUN
fsr-3796	70	71	term	term	NOUN
fsr-3796	70	72	using	use	VERB
fsr-3796	70	73	equation	equation	NOUN
fsr-3796	70	74	1	1	NUM
fsr-3796	70	75	.	.	PUNCT
fsr-3796	71	1	the	the	DET
fsr-3796	71	2	model	model	NOUN
fsr-3796	71	3	was	be	AUX
fsr-3796	71	4	simu	simu	NOUN
fsr-3796	71	5	lated	late	VERB
fsr-3796	71	6	using	use	VERB
fsr-3796	71	7	the	the	DET
fsr-3796	71	8	monte	monte	PROPN
fsr-3796	71	9	carlo	carlo	NOUN
fsr-3796	71	10	technique	technique	NOUN
fsr-3796	71	11	in	in	ADP
fsr-3796	71	12	@risk	@risk	PROPN
fsr-3796	71	13	simulation	simulation	NOUN
fsr-3796	71	14	software	software	NOUN
fsr-3796	71	15	.	.	PUNCT
fsr-3796	72	1	table	table	NOUN
fsr-3796	72	2	2	2	NUM
fsr-3796	72	3	shows	show	VERB
fsr-3796	72	4	a	a	DET
fsr-3796	72	5	sample	sample	NOUN
fsr-3796	72	6	input	input	NOUN
fsr-3796	72	7	section	section	NOUN
fsr-3796	72	8	of	of	ADP
fsr-3796	72	9	the	the	DET
fsr-3796	72	10	model	model	NOUN
fsr-3796	72	11	.	.	PUNCT
fsr-3796	73	1	a	a	DET
fsr-3796	73	2	large	large	ADJ
fsr-3796	73	3	,	,	PUNCT
fsr-3796	73	4	midwestem	midwestem	NOUN
fsr-3796	73	5	thrift	thrift	NOUN
fsr-3796	73	6	institution	institution	NOUN
fsr-3796	73	7	provided	provide	VERB
fsr-3796	73	8	loan	loan	NOUN
fsr-3796	73	9	terms	term	NOUN
fsr-3796	73	10	data	datum	NOUN
fsr-3796	73	11	for	for	ADP
fsr-3796	73	12	the	the	DET
fsr-3796	73	13	period	period	NOUN
fsr-3796	73	14	1989	1989	NUM
fsr-3796	73	15	through	through	ADP
fsr-3796	73	16	1992	1992	NUM
fsr-3796	73	17	.	.	PUNCT
fsr-3796	74	1	these	these	DET
fsr-3796	74	2	items	item	NOUN
fsr-3796	74	3	include	include	VERB
fsr-3796	74	4	discount	discount	NOUN
fsr-3796	74	5	points	point	NOUN
fsr-3796	74	6	and	and	CCONJ
fsr-3796	74	7	the	the	DET
fsr-3796	74	8	initial	initial	ADJ
fsr-3796	74	9	mortgage	mortgage	NOUN
fsr-3796	74	10	rates	rate	NOUN
fsr-3796	74	11	for	for	ADP
fsr-3796	74	12	both	both	CCONJ
fsr-3796	74	13	adjustable	adjustable	ADJ
fsr-3796	74	14	and	and	CCONJ
fsr-3796	74	15	fixed	fix	VERB
fsr-3796	74	16	rate	rate	NOUN
fsr-3796	74	17	mortgages	mortgage	NOUN
fsr-3796	74	18	,	,	PUNCT
fsr-3796	74	19	as	as	ADV
fsr-3796	74	20	well	well	ADV
fsr-3796	74	21	as	as	ADP
fsr-3796	74	22	the	the	DET
fsr-3796	74	23	selection	selection	NOUN
fsr-3796	74	24	of	of	ADP
fsr-3796	74	25	an	an	DET
fsr-3796	74	26	index	index	NOUN
fsr-3796	74	27	and	and	CCONJ
fsr-3796	74	28	margins	margin	NOUN
fsr-3796	74	29	over	over	ADP
fsr-3796	74	30	the	the	DET
fsr-3796	74	31	index	index	NOUN
fsr-3796	74	32	rate	rate	NOUN
fsr-3796	74	33	for	for	ADP
fsr-3796	74	34	the	the	DET
fsr-3796	74	35	arm	arm	NOUN
fsr-3796	74	36	.	.	PUNCT
fsr-3796	75	1	thus	thus	ADV
fsr-3796	75	2	,	,	PUNCT
fsr-3796	75	3	the	the	DET
fsr-3796	75	4	simulations	simulation	NOUN
fsr-3796	75	5	in	in	ADP
fsr-3796	75	6	this	this	DET
fsr-3796	75	7	study	study	NOUN
fsr-3796	75	8	were	be	AUX
fsr-3796	75	9	performed	perform	VERB
fsr-3796	75	10	using	use	VERB
fsr-3796	75	11	real	real	ADJ
fsr-3796	75	12	loan	loan	NOUN
fsr-3796	75	13	terms	term	NOUN
fsr-3796	75	14	as	as	ADP
fsr-3796	75	15	parameters	parameter	NOUN
fsr-3796	75	16	.	.	PUNCT
fsr-3796	76	1	simulating	simulate	VERB
fsr-3796	76	2	interest	interest	NOUN
fsr-3796	76	3	rate	rate	NOUN
fsr-3796	76	4	changes	change	NOUN
fsr-3796	76	5	over	over	ADP
fsr-3796	76	6	the	the	DET
fsr-3796	76	7	thirty	thirty	NUM
fsr-3796	76	8	year	year	NOUN
fsr-3796	76	9	term	term	NOUN
fsr-3796	76	10	of	of	ADP
fsr-3796	76	11	a	a	DET
fsr-3796	76	12	mortgage	mortgage	NOUN
fsr-3796	76	13	is	be	AUX
fsr-3796	76	14	the	the	DET
fsr-3796	76	15	engine	engine	NOUN
fsr-3796	76	16	that	that	PRON
fsr-3796	76	17	drives	drive	VERB
fsr-3796	76	18	these	these	DET
fsr-3796	76	19	simulations	simulation	NOUN
fsr-3796	76	20	.	.	PUNCT
fsr-3796	77	1	while	while	SCONJ
fsr-3796	77	2	the	the	DET
fsr-3796	77	3	loan	loan	NOUN
fsr-3796	77	4	parameters	parameter	NOUN
fsr-3796	77	5	can	can	AUX
fsr-3796	77	6	be	be	AUX
fsr-3796	77	7	taken	take	VERB
fsr-3796	77	8	from	from	ADP
fsr-3796	77	9	actual	actual	ADJ
fsr-3796	77	10	contracts	contract	NOUN
fsr-3796	77	11	,	,	PUNCT
fsr-3796	77	12	parameters	parameter	NOUN
fsr-3796	77	13	related	relate	VERB
fsr-3796	77	14	to	to	ADP
fsr-3796	77	15	the	the	DET
fsr-3796	77	16	rate	rate	NOUN
fsr-3796	77	17	changes	change	NOUN
fsr-3796	77	18	must	must	AUX
fsr-3796	77	19	be	be	AUX
fsr-3796	77	20	selected	select	VERB
fsr-3796	77	21	by	by	ADP
fsr-3796	77	22	the	the	DET
fsr-3796	77	23	modeler	modeler	NOUN
fsr-3796	77	24	.	.	PUNCT
fsr-3796	78	1	for	for	ADP
fsr-3796	78	2	the	the	DET
fsr-3796	78	3	most	most	ADJ
fsr-3796	78	4	part	part	NOUN
fsr-3796	78	5	,	,	PUNCT
fsr-3796	78	6	we	we	PRON
fsr-3796	78	7	use	use	VERB
fsr-3796	78	8	average	average	ADJ
fsr-3796	78	9	historical	historical	ADJ
fsr-3796	78	10	values	value	NOUN
fsr-3796	78	11	in	in	ADP
fsr-3796	78	12	setting	set	VERB
fsr-3796	78	13	these	these	DET
fsr-3796	78	14	parameters	parameter	NOUN
fsr-3796	78	15	.	.	PUNCT
fsr-3796	79	1	first	first	ADV
fsr-3796	79	2	,	,	PUNCT
fsr-3796	79	3	we	we	PRON
fsr-3796	79	4	collected	collect	VERB
fsr-3796	79	5	data	datum	NOUN
fsr-3796	79	6	on	on	ADP
fsr-3796	79	7	the	the	DET
fsr-3796	79	8	one	one	NUM
fsr-3796	79	9	year	year	NOUN
fsr-3796	79	10	constant	constant	ADJ
fsr-3796	79	11	maturity	maturity	NOUN
fsr-3796	79	12	yield	yield	NOUN
fsr-3796	79	13	of	of	ADP
fsr-3796	79	14	u.s	u.s	PROPN
fsr-3796	79	15	.	.	PROPN
fsr-3796	79	16	treasury	treasury	PROPN
fsr-3796	79	17	securities	security	NOUN
fsr-3796	79	18	as	as	SCONJ
fsr-3796	79	19	reported	report	VERB
fsr-3796	79	20	on	on	ADP
fsr-3796	79	21	a	a	DET
fsr-3796	79	22	weekly	weekly	ADJ
fsr-3796	79	23	basis	basis	NOUN
fsr-3796	79	24	by	by	ADP
fsr-3796	79	25	the	the	DET
fsr-3796	79	26	federal	federal	PROPN
fsr-3796	79	27	reserve	reserve	PROPN
fsr-3796	79	28	.	.	PUNCT
fsr-3796	80	1	from	from	ADP
fsr-3796	80	2	these	these	DET
fsr-3796	80	3	treasury	treasury	NOUN
fsr-3796	80	4	data	datum	NOUN
fsr-3796	80	5	,	,	PUNCT
fsr-3796	80	6	we	we	PRON
fsr-3796	80	7	calculated	calculate	VERB
fsr-3796	80	8	a	a	DET
fsr-3796	80	9	standard	standard	ADJ
fsr-3796	80	10	deviation	deviation	NOUN
fsr-3796	80	11	of	of	ADP
fsr-3796	80	12	annual	annual	ADJ
fsr-3796	80	13	index	index	NOUN
fsr-3796	80	14	rate	rate	NOUN
fsr-3796	80	15	changes	change	NOUN
fsr-3796	80	16	of	of	ADP
fsr-3796	80	17	2.52	2.52	NUM
fsr-3796	80	18	percentage	percentage	NOUN
fsr-3796	80	19	points	point	NOUN
fsr-3796	80	20	.	.	PUNCT
fsr-3796	81	1	see	see	VERB
fsr-3796	81	2	figure	figure	NOUN
fsr-3796	81	3	1	1	NUM
fsr-3796	81	4	for	for	ADP
fsr-3796	81	5	a	a	DET
fsr-3796	81	6	dis	dis	PROPN
fsr-3796	81	7	~	~	NOUN
fsr-3796	81	8	bution	bution	NOUN
fsr-3796	81	9	of	of	ADP
fsr-3796	81	10	annual	annual	ADJ
fsr-3796	81	11	changes	change	NOUN
fsr-3796	81	12	in	in	ADP
fsr-3796	81	13	this	this	DET
fsr-3796	81	14	index	index	NOUN
fsr-3796	81	15	from	from	ADP
fsr-3796	81	16	november	november	PROPN
fsr-3796	81	17	1979	1979	NUM
fsr-3796	81	18	to	to	ADP
fsr-3796	81	19	december	december	PROPN
fsr-3796	81	20	199	199	NUM
fsr-3796	81	21	1	1	NUM
fsr-3796	81	22	.	.	PUNCT
fsr-3796	82	1	this	this	PRON
fsr-3796	82	2	represents	represent	VERB
fsr-3796	82	3	the	the	DET
fsr-3796	82	4	fixed	fix	VERB
fsr-3796	82	5	and	and	CCONJ
fsr-3796	82	6	adjustable	adjustable	ADJ
fsr-3796	82	7	rate	rate	NOUN
fsr-3796	82	8	mortgages	mortgage	NOUN
fsr-3796	82	9	105	105	NUM
fsr-3796	82	10	table	table	NOUN
fsr-3796	82	11	2	2	NUM
fsr-3796	82	12	low	low	ADJ
fsr-3796	82	13	interest	interest	NOUN
fsr-3796	82	14	rate	rate	NOUN
fsr-3796	82	15	environment	environment	NOUN
fsr-3796	82	16	simulation	simulation	NOUN
fsr-3796	82	17	parameters	parameter	NOUN
fsr-3796	82	18	parameters	parameter	NOUN
fsr-3796	82	19	term	term	NOUN
fsr-3796	82	20	loan	loan	NOUN
fsr-3796	82	21	amount	amount	NOUN
fsr-3796	82	22	discount	discount	NOUN
fsr-3796	82	23	points	point	NOUN
fsr-3796	82	24	index	index	NOUN
fsr-3796	82	25	initial	initial	ADJ
fsr-3796	82	26	index	index	NOUN
fsr-3796	82	27	value	value	NOUN
fsr-3796	82	28	standard	standard	ADJ
fsr-3796	82	29	deviation	deviation	NOUN
fsr-3796	82	30	of	of	ADP
fsr-3796	82	31	index	index	NOUN
fsr-3796	82	32	maximum	maximum	ADJ
fsr-3796	82	33	value	value	NOUN
fsr-3796	82	34	of	of	ADP
fsr-3796	82	35	index	index	NOUN
fsr-3796	82	36	minimum	minimum	NOUN
fsr-3796	82	37	value	value	NOUN
fsr-3796	82	38	of	of	ADP
fsr-3796	82	39	index	index	NOUN
fsr-3796	82	40	margin	margin	NOUN
fsr-3796	82	41	over	over	ADP
fsr-3796	82	42	index	index	NOUN
fsr-3796	82	43	initial	initial	ADJ
fsr-3796	82	44	composite	composite	ADJ
fsr-3796	82	45	rate	rate	NOUN
fsr-3796	82	46	initial	initial	ADJ
fsr-3796	82	47	adjustable	adjustable	ADJ
fsr-3796	82	48	rate	rate	NOUN
fsr-3796	82	49	initial	initial	ADJ
fsr-3796	82	50	fixed	fix	VERB
fsr-3796	82	51	rate	rate	NOUN
fsr-3796	82	52	after	after	ADP
fsr-3796	82	53	-	-	PUNCT
fsr-3796	82	54	tax	tax	NOUN
fsr-3796	82	55	discount	discount	NOUN
fsr-3796	82	56	rate	rate	NOUN
fsr-3796	82	57	marginal	marginal	ADJ
fsr-3796	82	58	tax	tax	NOUN
fsr-3796	82	59	rate	rate	NOUN
fsr-3796	82	60	annual	annual	ADJ
fsr-3796	82	61	rate	rate	NOUN
fsr-3796	82	62	change	change	NOUN
fsr-3796	82	63	cap	cap	NOUN
fsr-3796	82	64	life	life	NOUN
fsr-3796	82	65	time	time	NOUN
fsr-3796	82	66	rate	rate	NOUN
fsr-3796	82	67	change	change	NOUN
fsr-3796	82	68	cap	cap	NOUN
fsr-3796	82	69	adjusfable	adjusfable	PROPN
fsr-3796	82	70	rare	rare	ADJ
fsr-3796	82	71	30	30	NUM
fsr-3796	82	72	years	year	NOUN
fsr-3796	82	73	$	$	SYM
fsr-3796	82	74	100,000	100,000	NUM
fsr-3796	82	75	.500	.500	NUM
fsr-3796	82	76	%	%	NOUN
fsr-3796	82	77	1	1	NUM
fsr-3796	82	78	year	year	NOUN
fsr-3796	82	79	treasury	treasury	NOUN
fsr-3796	82	80	3.16	3.16	NUM
fsr-3796	82	81	%	%	NOUN
fsr-3796	82	82	2.52	2.52	NUM
fsr-3796	82	83	%	%	NOUN
fsr-3796	82	84	11.00	11.00	NUM
fsr-3796	82	85	%	%	NOUN
fsr-3796	82	86	3.00	3.00	NUM
fsr-3796	82	87	%	%	NOUN
fsr-3796	82	88	2.75	2.75	NUM
fsr-3796	82	89	%	%	NOUN
fsr-3796	82	90	5.910	5.910	NUM
fsr-3796	82	91	%	%	NOUN
fsr-3796	82	92	5.375	5.375	NUM
fsr-3796	82	93	%	%	NOUN
fsr-3796	82	94	4.000	4.000	NUM
fsr-3796	82	95	%	%	NOUN
fsr-3796	82	96	28	28	NUM
fsr-3796	82	97	%	%	NOUN
fsr-3796	82	98	2.00	2.00	NUM
fsr-3796	82	99	%	%	NOUN
fsr-3796	82	100	6.00	6.00	NUM
fsr-3796	82	101	%	%	NOUN
fsr-3796	82	102	fixed	fix	VERB
fsr-3796	82	103	rate	rate	NOUN
fsr-3796	82	104	30	30	NUM
fsr-3796	82	105	years	year	NOUN
fsr-3796	82	106	$	$	SYM
fsr-3796	82	107	100,000	100,000	NUM
fsr-3796	82	108	1.000	1.000	NUM
fsr-3796	82	109	%	%	NOUN
fsr-3796	82	110	7.875	7.875	NUM
fsr-3796	82	111	%	%	NOUN
fsr-3796	82	112	4.000	4.000	NUM
fsr-3796	82	113	%	%	NOUN
fsr-3796	82	114	28	28	NUM
fsr-3796	82	115	%	%	NOUN
fsr-3796	82	116	period	period	NOUN
fsr-3796	82	117	from	from	ADP
fsr-3796	82	118	just	just	ADV
fsr-3796	82	119	after	after	ADP
fsr-3796	82	120	the	the	DET
fsr-3796	82	121	major	major	ADJ
fsr-3796	82	122	shift	shift	NOUN
fsr-3796	82	123	in	in	ADP
fsr-3796	82	124	fed	fed	PROPN
fsr-3796	82	125	policy	policy	NOUN
fsr-3796	82	126	regarding	regard	VERB
fsr-3796	82	127	managing	manage	VERB
fsr-3796	82	128	interest	interest	NOUN
fsr-3796	82	129	rates	rate	NOUN
fsr-3796	82	130	through	through	ADP
fsr-3796	82	131	the	the	DET
fsr-3796	82	132	year	year	NOUN
fsr-3796	82	133	just	just	ADV
fsr-3796	82	134	prior	prior	ADV
fsr-3796	82	135	to	to	ADP
fsr-3796	82	136	when	when	SCONJ
fsr-3796	82	137	the	the	DET
fsr-3796	82	138	first	first	ADJ
fsr-3796	82	139	simulation	simulation	NOUN
fsr-3796	82	140	begins	begin	VERB
fsr-3796	82	141	.	.	PUNCT
fsr-3796	83	1	the	the	DET
fsr-3796	83	2	annual	annual	ADJ
fsr-3796	83	3	changes	change	NOUN
fsr-3796	83	4	appear	appear	VERB
fsr-3796	83	5	to	to	PART
fsr-3796	83	6	be	be	AUX
fsr-3796	83	7	approximately	approximately	ADV
fsr-3796	83	8	normally	normally	ADV
fsr-3796	83	9	distributed	distribute	VERB
fsr-3796	83	10	.	.	PUNCT
fsr-3796	84	1	we	we	PRON
fsr-3796	84	2	simply	simply	ADV
fsr-3796	84	3	observe	observe	VERB
fsr-3796	84	4	the	the	DET
fsr-3796	84	5	first	first	ADJ
fsr-3796	84	6	year	year	NOUN
fsr-3796	84	7	index	index	NOUN
fsr-3796	84	8	rate	rate	NOUN
fsr-3796	84	9	.	.	PUNCT
fsr-3796	85	1	the	the	DET
fsr-3796	85	2	index	index	NOUN
fsr-3796	85	3	rate	rate	NOUN
fsr-3796	85	4	for	for	ADP
fsr-3796	85	5	the	the	DET
fsr-3796	85	6	second	second	ADJ
fsr-3796	85	7	year	year	NOUN
fsr-3796	85	8	is	be	AUX
fsr-3796	85	9	modeled	model	VERB
fsr-3796	85	10	by	by	ADP
fsr-3796	85	11	multiplying	multiply	VERB
fsr-3796	85	12	a	a	DET
fsr-3796	85	13	randomly	randomly	ADV
fsr-3796	85	14	selected	select	VERB
fsr-3796	85	15	z	z	NOUN
fsr-3796	85	16	-	-	NOUN
fsr-3796	85	17	score	score	NOUN
fsr-3796	85	18	from	from	ADP
fsr-3796	85	19	a	a	DET
fsr-3796	85	20	normal	normal	ADJ
fsr-3796	85	21	distribution	distribution	NOUN
fsr-3796	85	22	times	time	NOUN
fsr-3796	85	23	the	the	DET
fsr-3796	85	24	standard	standard	ADJ
fsr-3796	85	25	deviation	deviation	NOUN
fsr-3796	85	26	of	of	ADP
fsr-3796	85	27	annual	annual	ADJ
fsr-3796	85	28	changes	change	NOUN
fsr-3796	85	29	and	and	CCONJ
fsr-3796	85	30	adding	add	VERB
fsr-3796	85	31	this	this	PRON
fsr-3796	85	32	to	to	ADP
fsr-3796	85	33	the	the	DET
fsr-3796	85	34	index	index	NOUN
fsr-3796	85	35	rate	rate	NOUN
fsr-3796	85	36	value	value	NOUN
fsr-3796	85	37	for	for	ADP
fsr-3796	85	38	the	the	DET
fsr-3796	85	39	previous	previous	ADJ
fsr-3796	85	40	year	year	NOUN
fsr-3796	85	41	.	.	PUNCT
fsr-3796	86	1	subsequent	subsequent	ADJ
fsr-3796	86	2	index	index	NOUN
fsr-3796	86	3	rates	rate	NOUN
fsr-3796	86	4	are	be	AUX
fsr-3796	86	5	modeled	model	VERB
fsr-3796	86	6	in	in	ADP
fsr-3796	86	7	the	the	DET
fsr-3796	86	8	same	same	ADJ
fsr-3796	86	9	way	way	NOUN
fsr-3796	86	10	.	.	PUNCT
fsr-3796	87	1	an	an	DET
fsr-3796	87	2	index	index	NOUN
fsr-3796	87	3	rate	rate	NOUN
fsr-3796	87	4	floor	floor	NOUN
fsr-3796	87	5	of	of	ADP
fsr-3796	87	6	3	3	NUM
fsr-3796	87	7	%	%	NOUN
fsr-3796	87	8	and	and	CCONJ
fsr-3796	87	9	a	a	DET
fsr-3796	87	10	ceiling	ceiling	NOUN
fsr-3796	87	11	of	of	ADP
fsr-3796	87	12	11	11	NUM
fsr-3796	87	13	%	%	NOUN
fsr-3796	87	14	were	be	AUX
fsr-3796	87	15	selected	select	VERB
fsr-3796	87	16	to	to	PART
fsr-3796	87	17	keep	keep	VERB
fsr-3796	87	18	the	the	DET
fsr-3796	87	19	simulated	simulated	ADJ
fsr-3796	87	20	index	index	NOUN
fsr-3796	87	21	rate	rate	NOUN
fsr-3796	87	22	within	within	ADP
fsr-3796	87	23	a	a	DET
fsr-3796	87	24	reasonable	reasonable	ADJ
fsr-3796	87	25	range	range	NOUN
fsr-3796	87	26	.	.	PUNCT
fsr-3796	88	1	this	this	DET
fsr-3796	88	2	method	method	NOUN
fsr-3796	88	3	of	of	ADP
fsr-3796	88	4	simulating	simulate	VERB
fsr-3796	88	5	interest	interest	NOUN
fsr-3796	88	6	rates	rate	NOUN
fsr-3796	88	7	follows	follow	VERB
fsr-3796	88	8	tucker	tucker	PROPN
fsr-3796	88	9	(	(	PUNCT
fsr-3796	88	10	1991	1991	NUM
fsr-3796	88	11	)	)	PUNCT
fsr-3796	88	12	in	in	ADP
fsr-3796	88	13	setting	set	VERB
fsr-3796	88	14	the	the	DET
fsr-3796	88	15	expected	expect	VERB
fsr-3796	88	16	index	index	NOUN
fsr-3796	88	17	value	value	NOUN
fsr-3796	88	18	for	for	ADP
fsr-3796	88	19	the	the	DET
fsr-3796	88	20	subsequent	subsequent	ADJ
fsr-3796	88	21	period	period	NOUN
fsr-3796	88	22	equal	equal	ADJ
fsr-3796	88	23	to	to	ADP
fsr-3796	88	24	the	the	DET
fsr-3796	88	25	present	present	ADJ
fsr-3796	88	26	index	index	NOUN
fsr-3796	88	27	value	value	NOUN
fsr-3796	88	28	.	.	PUNCT
fsr-3796	89	1	in	in	ADP
fsr-3796	89	2	short	short	ADJ
fsr-3796	89	3	,	,	PUNCT
fsr-3796	89	4	it	it	PRON
fsr-3796	89	5	assumes	assume	VERB
fsr-3796	89	6	no	no	DET
fsr-3796	89	7	reversion	reversion	NOUN
fsr-3796	89	8	toward	toward	ADP
fsr-3796	89	9	a	a	DET
fsr-3796	89	10	mean	mean	ADJ
fsr-3796	89	11	index	index	NOUN
fsr-3796	89	12	value	value	NOUN
fsr-3796	89	13	.	.	PUNCT
fsr-3796	90	1	we	we	PRON
fsr-3796	90	2	have	have	AUX
fsr-3796	90	3	added	add	VERB
fsr-3796	90	4	mean	mean	ADJ
fsr-3796	90	5	reversion	reversion	NOUN
fsr-3796	90	6	parameters	parameter	NOUN
fsr-3796	90	7	to	to	ADP
fsr-3796	90	8	our	our	PRON
fsr-3796	90	9	model	model	NOUN
fsr-3796	90	10	and	and	CCONJ
fsr-3796	90	11	run	run	VERB
fsr-3796	90	12	again	again	ADV
fsr-3796	90	13	the	the	DET
fsr-3796	90	14	simulations	simulation	NOUN
fsr-3796	90	15	reported	report	VERB
fsr-3796	90	16	in	in	ADP
fsr-3796	90	17	this	this	DET
fsr-3796	90	18	study	study	NOUN
fsr-3796	90	19	.	.	PUNCT
fsr-3796	91	1	the	the	DET
fsr-3796	91	2	effects	effect	NOUN
fsr-3796	91	3	on	on	ADP
fsr-3796	91	4	the	the	DET
fsr-3796	91	5	results	result	NOUN
fsr-3796	91	6	are	be	AUX
fsr-3796	91	7	not	not	PART
fsr-3796	91	8	markedly	markedly	ADV
fsr-3796	91	9	different	different	ADJ
fsr-3796	91	10	and	and	CCONJ
fsr-3796	91	11	the	the	DET
fsr-3796	91	12	conclusions	conclusion	NOUN
fsr-3796	91	13	we	we	PRON
fsr-3796	91	14	draw	draw	VERB
fsr-3796	91	15	would	would	AUX
fsr-3796	91	16	not	not	PART
fsr-3796	91	17	be	be	AUX
fsr-3796	91	18	affected	affect	VERB
fsr-3796	91	19	.	.	PUNCT
fsr-3796	92	1	because	because	SCONJ
fsr-3796	92	2	mean	mean	ADJ
fsr-3796	92	3	reversion	reversion	NOUN
fsr-3796	92	4	is	be	AUX
fsr-3796	92	5	a	a	DET
fsr-3796	92	6	controversial	controversial	ADJ
fsr-3796	92	7	issue	issue	NOUN
fsr-3796	92	8	(	(	PUNCT
fsr-3796	92	9	e.g.	e.g.	ADV
fsr-3796	92	10	,	,	PUNCT
fsr-3796	92	11	chan	chan	PROPN
fsr-3796	92	12	,	,	PUNCT
fsr-3796	92	13	et	et	PROPN
fsr-3796	92	14	al	al	PROPN
fsr-3796	92	15	.	.	PROPN
fsr-3796	92	16	,	,	PUNCT
fsr-3796	92	17	1992	1992	NUM
fsr-3796	92	18	find	find	VERB
fsr-3796	92	19	insignificant	insignificant	ADJ
fsr-3796	92	20	results	result	NOUN
fsr-3796	92	21	when	when	SCONJ
fsr-3796	92	22	testing	test	VERB
fsr-3796	92	23	for	for	ADP
fsr-3796	92	24	it	it	PRON
fsr-3796	92	25	in	in	ADP
fsr-3796	92	26	one	one	NUM
fsr-3796	92	27	month	month	NOUN
fsr-3796	92	28	treasury	treasury	NOUN
fsr-3796	92	29	yields	yield	NOUN
fsr-3796	92	30	)	)	PUNCT
fsr-3796	92	31	and	and	CCONJ
fsr-3796	92	32	it	it	PRON
fsr-3796	92	33	adds	add	VERB
fsr-3796	92	34	complexity	complexity	NOUN
fsr-3796	92	35	to	to	ADP
fsr-3796	92	36	the	the	DET
fsr-3796	92	37	model	model	NOUN
fsr-3796	92	38	,	,	PUNCT
fsr-3796	92	39	we	we	PRON
fsr-3796	92	40	report	report	VERB
fsr-3796	92	41	results	result	NOUN
fsr-3796	92	42	without	without	ADP
fsr-3796	92	43	it	it	PRON
fsr-3796	92	44	.	.	PUNCT
fsr-3796	93	1	however	however	ADV
fsr-3796	93	2	,	,	PUNCT
fsr-3796	93	3	mean	mean	ADJ
fsr-3796	93	4	reversion	reversion	NOUN
fsr-3796	93	5	can	can	AUX
fsr-3796	93	6	easily	easily	ADV
fsr-3796	93	7	be	be	AUX
fsr-3796	93	8	added	add	VERB
fsr-3796	93	9	to	to	ADP
fsr-3796	93	10	the	the	DET
fsr-3796	93	11	model	model	NOUN
fsr-3796	93	12	and	and	CCONJ
fsr-3796	93	13	a	a	DET
fsr-3796	93	14	user	user	NOUN
fsr-3796	93	15	who	who	PRON
fsr-3796	93	16	expected	expect	VERB
fsr-3796	93	17	mean	mean	ADJ
fsr-3796	93	18	reversion	reversion	NOUN
fsr-3796	93	19	could	could	AUX
fsr-3796	93	20	include	include	VERB
fsr-3796	93	21	it	it	PRON
fsr-3796	93	22	.	.	PUNCT
fsr-3796	94	1	figure	figure	NOUN
fsr-3796	94	2	2	2	NUM
fsr-3796	94	3	shows	show	VERB
fsr-3796	94	4	a	a	DET
fsr-3796	94	5	sample	sample	NOUN
fsr-3796	94	6	thirty	thirty	NUM
fsr-3796	94	7	year	year	NOUN
fsr-3796	94	8	series	series	NOUN
fsr-3796	94	9	of	of	ADP
fsr-3796	94	10	simulated	simulated	ADJ
fsr-3796	94	11	index	index	NOUN
fsr-3796	94	12	rate	rate	NOUN
fsr-3796	94	13	values	value	NOUN
fsr-3796	94	14	constructed	construct	VERB
fsr-3796	94	15	using	use	VERB
fsr-3796	94	16	the	the	DET
fsr-3796	94	17	technique	technique	NOUN
fsr-3796	94	18	just	just	ADV
fsr-3796	94	19	described	describe	VERB
fsr-3796	94	20	.	.	PUNCT
fsr-3796	95	1	it	it	PRON
fsr-3796	95	2	also	also	ADV
fsr-3796	95	3	shows	show	VERB
fsr-3796	95	4	an	an	DET
fsr-3796	95	5	actual	actual	ADJ
fsr-3796	95	6	series	series	NOUN
fsr-3796	95	7	of	of	ADP
fsr-3796	95	8	the	the	DET
fsr-3796	95	9	index	index	NOUN
fsr-3796	95	10	rate	rate	NOUN
fsr-3796	95	11	for	for	ADP
fsr-3796	95	12	comparison	comparison	NOUN
fsr-3796	95	13	’s	’s	PART
fsr-3796	95	14	sake	sake	NOUN
fsr-3796	95	15	.	.	PUNCT
fsr-3796	96	1	for	for	ADP
fsr-3796	96	2	simplicity	simplicity	NOUN
fsr-3796	96	3	,	,	PUNCT
fsr-3796	96	4	the	the	DET
fsr-3796	96	5	payments	payment	NOUN
fsr-3796	96	6	are	be	AUX
fsr-3796	96	7	treated	treat	VERB
fsr-3796	96	8	as	as	ADP
fsr-3796	96	9	annual	annual	ADJ
fsr-3796	96	10	rather	rather	ADV
fsr-3796	96	11	than	than	ADP
fsr-3796	96	12	monthly	monthly	ADV
fsr-3796	96	13	.	.	PUNCT
fsr-3796	97	1	the	the	DET
fsr-3796	97	2	payment	payment	NOUN
fsr-3796	97	3	for	for	ADP
fsr-3796	97	4	the	the	DET
fsr-3796	97	5	frm	frm	PROPN
fsr-3796	97	6	is	be	AUX
fsr-3796	97	7	the	the	DET
fsr-3796	97	8	constant	constant	ADJ
fsr-3796	97	9	annuity	annuity	NOUN
fsr-3796	97	10	mount	mount	NOUN
fsr-3796	97	11	that	that	PRON
fsr-3796	97	12	completely	completely	ADV
fsr-3796	97	13	amortizes	amortize	VERB
fsr-3796	97	14	the	the	DET
fsr-3796	97	15	loan	loan	NOUN
fsr-3796	97	16	over	over	ADP
fsr-3796	97	17	the	the	DET
fsr-3796	97	18	thirty	thirty	NUM
fsr-3796	97	19	year	year	NOUN
fsr-3796	97	20	life	life	NOUN
fsr-3796	97	21	of	of	ADP
fsr-3796	97	22	the	the	DET
fsr-3796	97	23	mortgage	mortgage	NOUN
fsr-3796	97	24	.	.	PUNCT
fsr-3796	98	1	the	the	DET
fsr-3796	98	2	payment	payment	NOUN
fsr-3796	98	3	for	for	ADP
fsr-3796	98	4	the	the	DET
fsr-3796	98	5	arm	arm	NOUN
fsr-3796	98	6	is	be	AUX
fsr-3796	98	7	recalculated	recalculate	VERB
fsr-3796	98	8	annually	annually	ADV
fsr-3796	98	9	.	.	PUNCT
fsr-3796	99	1	a	a	DET
fsr-3796	99	2	com	com	NOUN
fsr-3796	99	3	posite	posite	NOUN
fsr-3796	99	4	rate	rate	NOUN
fsr-3796	99	5	is	be	AUX
fsr-3796	99	6	determined	determine	VERB
fsr-3796	99	7	for	for	ADP
fsr-3796	99	8	each	each	DET
fsr-3796	99	9	period	period	NOUN
fsr-3796	99	10	by	by	ADP
fsr-3796	99	11	adding	add	VERB
fsr-3796	99	12	the	the	DET
fsr-3796	99	13	specified	specified	ADJ
fsr-3796	99	14	margin	margin	NOUN
fsr-3796	99	15	to	to	ADP
fsr-3796	99	16	the	the	DET
fsr-3796	99	17	simulated	simulate	VERB
fsr-3796	99	18	value	value	NOUN
fsr-3796	99	19	of	of	ADP
fsr-3796	99	20	the	the	DET
fsr-3796	99	21	index	index	NOUN
fsr-3796	99	22	rate	rate	NOUN
fsr-3796	99	23	.	.	PUNCT
fsr-3796	100	1	the	the	DET
fsr-3796	100	2	composite	composite	ADJ
fsr-3796	100	3	rate	rate	NOUN
fsr-3796	100	4	is	be	AUX
fsr-3796	100	5	subjected	subject	VERB
fsr-3796	100	6	to	to	ADP
fsr-3796	100	7	annual	annual	ADJ
fsr-3796	100	8	and	and	CCONJ
fsr-3796	100	9	lifetime	lifetime	NOUN
fsr-3796	100	10	caps	cap	NOUN
fsr-3796	100	11	speci	speci	PRON
fsr-3796	100	12	fied	fie	VERB
fsr-3796	100	13	in	in	ADP
fsr-3796	100	14	the	the	DET
fsr-3796	100	15	arm	arm	NOUN
fsr-3796	100	16	contract	contract	NOUN
fsr-3796	100	17	to	to	PART
fsr-3796	100	18	arrive	arrive	VERB
fsr-3796	100	19	at	at	ADP
fsr-3796	100	20	the	the	DET
fsr-3796	100	21	simulated	simulate	VERB
fsr-3796	100	22	mortgage	mortgage	NOUN
fsr-3796	100	23	rate	rate	NOUN
fsr-3796	100	24	for	for	ADP
fsr-3796	100	25	each	each	DET
fsr-3796	100	26	period	period	NOUN
fsr-3796	100	27	.	.	PUNCT
fsr-3796	101	1	the	the	DET
fsr-3796	101	2	sim	sim	ADJ
fsr-3796	101	3	ulated	ulated	ADJ
fsr-3796	101	4	mo	mo	NOUN
fsr-3796	101	5	~	~	NOUN
fsr-3796	101	6	gage	gage	NOUN
fsr-3796	101	7	rate	rate	NOUN
fsr-3796	101	8	,	,	PUNCT
fsr-3796	101	9	the	the	DET
fsr-3796	101	10	remaining	remain	VERB
fsr-3796	101	11	balance	balance	NOUN
fsr-3796	101	12	,	,	PUNCT
fsr-3796	101	13	and	and	CCONJ
fsr-3796	101	14	the	the	DET
fsr-3796	101	15	rem	rem	VERB
fsr-3796	101	16	~	~	NOUN
fsr-3796	101	17	ning	ning	ADJ
fsr-3796	101	18	number	number	NOUN
fsr-3796	101	19	of	of	ADP
fsr-3796	101	20	years	year	NOUN
fsr-3796	101	21	in	in	ADP
fsr-3796	101	22	the	the	DET
fsr-3796	101	23	mortgage	mortgage	NOUN
fsr-3796	101	24	determine	determine	VERB
fsr-3796	101	25	the	the	DET
fsr-3796	101	26	adjusted	adjusted	ADJ
fsr-3796	101	27	arm	arm	NOUN
fsr-3796	101	28	payment	payment	NOUN
fsr-3796	101	29	.	.	PUNCT
fsr-3796	102	1	the	the	DET
fsr-3796	102	2	opportunity	opportunity	NOUN
fsr-3796	102	3	discount	discount	NOUN
fsr-3796	102	4	rate	rate	NOUN
fsr-3796	102	5	is	be	AUX
fsr-3796	102	6	the	the	DET
fsr-3796	102	7	assumed	assumed	ADJ
fsr-3796	102	8	after	after	ADP
fsr-3796	102	9	-	-	PUNCT
fsr-3796	102	10	tax	tax	NOUN
fsr-3796	102	11	return	return	NOUN
fsr-3796	102	12	the	the	DET
fsr-3796	102	13	borrower	borrower	NOUN
fsr-3796	102	14	could	could	AUX
fsr-3796	102	15	earn	earn	VERB
fsr-3796	102	16	if	if	SCONJ
fsr-3796	102	17	the	the	DET
fsr-3796	102	18	difference	difference	NOUN
fsr-3796	102	19	between	between	ADP
fsr-3796	102	20	the	the	DET
fsr-3796	102	21	two	two	NUM
fsr-3796	102	22	payment	payment	NOUN
fsr-3796	102	23	amounts	amount	NOUN
fsr-3796	102	24	were	be	AUX
fsr-3796	102	25	invested	invest	VERB
fsr-3796	102	26	.	.	PUNCT
fsr-3796	103	1	we	we	PRON
fsr-3796	103	2	use	use	VERB
fsr-3796	103	3	an	an	DET
fsr-3796	103	4	after	after	ADP
fsr-3796	103	5	-	-	PUNCT
fsr-3796	103	6	tax	tax	NOUN
fsr-3796	103	7	106	106	NUM
fsr-3796	103	8	financial	financial	ADJ
fsr-3796	103	9	services	service	NOUN
fsr-3796	103	10	review	review	VERB
fsr-3796	103	11	5(2	5(2	NUM
fsr-3796	103	12	)	)	PUNCT
fsr-3796	103	13	1996	1996	NUM
fsr-3796	103	14	standard	standard	ADJ
fsr-3796	103	15	deviation	deviation	NOUN
fsr-3796	103	16	=	=	SYM
fsr-3796	103	17	2.52	2.52	NUM
fsr-3796	103	18	%	%	NOUN
fsr-3796	103	19	annual	annual	ADJ
fsr-3796	103	20	changes	change	NOUN
fsr-3796	103	21	figure	figure	VERB
fsr-3796	103	22	1	1	NUM
fsr-3796	103	23	.	.	PUNCT
fsr-3796	104	1	distribution	distribution	NOUN
fsr-3796	104	2	of	of	ADP
fsr-3796	104	3	annual	annual	ADJ
fsr-3796	104	4	changes	change	NOUN
fsr-3796	104	5	in	in	ADP
fsr-3796	104	6	one	one	NUM
fsr-3796	104	7	year	year	NOUN
fsr-3796	104	8	constant	constant	ADJ
fsr-3796	104	9	maturity	maturity	NOUN
fsr-3796	104	10	treasury	treasury	NOUN
fsr-3796	104	11	rates	rate	NOUN
fsr-3796	104	12	,	,	PUNCT
fsr-3796	104	13	january	january	PROPN
fsr-3796	104	14	1979	1979	NUM
fsr-3796	104	15	to	to	ADP
fsr-3796	104	16	december	december	PROPN
fsr-3796	104	17	199	199	NUM
fsr-3796	104	18	1	1	NUM
fsr-3796	104	19	.	.	NOUN
fsr-3796	104	20	0	0	NUM
fsr-3796	104	21	5	5	NUM
fsr-3796	104	22	10	10	NUM
fsr-3796	104	23	15	15	NUM
fsr-3796	104	24	20	20	NUM
fsr-3796	104	25	25	25	NUM
fsr-3796	104	26	30	30	NUM
fsr-3796	104	27	year	year	NOUN
fsr-3796	104	28	i1	i1	PROPN
fsr-3796	104	29	year	year	NOUN
fsr-3796	104	30	constant	constant	ADJ
fsr-3796	104	31	maturity	maturity	NOUN
fsr-3796	104	32	treasuw	treasuw	NOUN
fsr-3796	104	33	yield	yield	NOUN
fsr-3796	104	34	-simulated	-simulate	VERB
fsr-3796	104	35	value	value	NOUN
fsr-3796	104	36	1	1	NUM
fsr-3796	104	37	figure	figure	NOUN
fsr-3796	104	38	2	2	NUM
fsr-3796	104	39	.	.	PUNCT
fsr-3796	105	1	an	an	DET
fsr-3796	105	2	actual	actual	ADJ
fsr-3796	105	3	thirty	thirty	NUM
fsr-3796	105	4	year	year	NOUN
fsr-3796	105	5	series	series	NOUN
fsr-3796	105	6	of	of	ADP
fsr-3796	105	7	the	the	DET
fsr-3796	105	8	one	one	NUM
fsr-3796	105	9	year	year	NOUN
fsr-3796	105	10	constant	constant	ADJ
fsr-3796	105	11	maturity	maturity	NOUN
fsr-3796	105	12	treasury	treasury	NOUN
fsr-3796	105	13	rate	rate	NOUN
fsr-3796	105	14	(	(	PUNCT
fsr-3796	105	15	observed	observe	VERB
fsr-3796	105	16	in	in	ADP
fsr-3796	105	17	the	the	DET
fsr-3796	105	18	first	first	ADJ
fsr-3796	105	19	week	week	NOUN
fsr-3796	105	20	of	of	ADP
fsr-3796	105	21	each	each	DET
fsr-3796	105	22	year	year	NOUN
fsr-3796	105	23	from	from	ADP
fsr-3796	105	24	1963	1963	NUM
fsr-3796	105	25	through	through	ADP
fsr-3796	105	26	1992	1992	NUM
fsr-3796	105	27	)	)	PUNCT
fsr-3796	105	28	compared	compare	VERB
fsr-3796	105	29	to	to	ADP
fsr-3796	105	30	a	a	DET
fsr-3796	105	31	sample	sample	NOUN
fsr-3796	105	32	iteration	iteration	NOUN
fsr-3796	105	33	of	of	ADP
fsr-3796	105	34	the	the	DET
fsr-3796	105	35	simulated	simulate	VERB
fsr-3796	105	36	rate	rate	NOUN
fsr-3796	105	37	.	.	PUNCT
fsr-3796	106	1	fixed	fix	VERB
fsr-3796	106	2	and	and	CCONJ
fsr-3796	106	3	adjustable	adjustable	ADJ
fsr-3796	106	4	rate	rate	NOUN
fsr-3796	106	5	mortgages	mortgage	NOUN
fsr-3796	106	6	107	107	NUM
fsr-3796	106	7	opportunity	opportunity	NOUN
fsr-3796	106	8	discount	discount	NOUN
fsr-3796	106	9	rate	rate	NOUN
fsr-3796	106	10	of	of	ADP
fsr-3796	106	11	4	4	NUM
fsr-3796	106	12	%	%	NOUN
fsr-3796	106	13	for	for	ADP
fsr-3796	106	14	all	all	DET
fsr-3796	106	15	the	the	DET
fsr-3796	106	16	simulations	simulation	NOUN
fsr-3796	106	17	described	describe	VERB
fsr-3796	106	18	in	in	ADP
fsr-3796	106	19	this	this	DET
fsr-3796	106	20	study	study	NOUN
fsr-3796	106	21	.	.	PUNCT
fsr-3796	107	1	an	an	DET
fsr-3796	107	2	altema	altema	NOUN
fsr-3796	107	3	tive	tive	PROPN
fsr-3796	107	4	way	way	NOUN
fsr-3796	107	5	to	to	PART
fsr-3796	107	6	think	think	VERB
fsr-3796	107	7	about	about	ADP
fsr-3796	107	8	the	the	DET
fsr-3796	107	9	opportunity	opportunity	NOUN
fsr-3796	107	10	discount	discount	NOUN
fsr-3796	107	11	rate	rate	NOUN
fsr-3796	107	12	is	be	AUX
fsr-3796	107	13	that	that	SCONJ
fsr-3796	107	14	it	it	PRON
fsr-3796	107	15	is	be	AUX
fsr-3796	107	16	the	the	DET
fsr-3796	107	17	borrower	borrower	NOUN
fsr-3796	107	18	’s	’s	PART
fsr-3796	107	19	next	next	ADJ
fsr-3796	107	20	best	good	ADJ
fsr-3796	107	21	borrowing	borrowing	NOUN
fsr-3796	107	22	rate	rate	NOUN
fsr-3796	107	23	.	.	PUNCT
fsr-3796	108	1	under	under	ADP
fsr-3796	108	2	that	that	DET
fsr-3796	108	3	view	view	NOUN
fsr-3796	108	4	the	the	DET
fsr-3796	108	5	rate	rate	NOUN
fsr-3796	108	6	would	would	AUX
fsr-3796	108	7	likely	likely	ADV
fsr-3796	108	8	be	be	AUX
fsr-3796	108	9	higher	high	ADJ
fsr-3796	108	10	.	.	PUNCT
fsr-3796	109	1	the	the	DET
fsr-3796	109	2	marginal	marginal	ADJ
fsr-3796	109	3	tax	tax	NOUN
fsr-3796	109	4	rate	rate	NOUN
fsr-3796	109	5	used	use	VERB
fsr-3796	109	6	in	in	ADP
fsr-3796	109	7	these	these	DET
fsr-3796	109	8	simulations	simulation	NOUN
fsr-3796	109	9	is	be	AUX
fsr-3796	109	10	28	28	NUM
fsr-3796	109	11	%	%	NOUN
fsr-3796	109	12	,	,	PUNCT
fsr-3796	109	13	a	a	DET
fsr-3796	109	14	rate	rate	NOUN
fsr-3796	109	15	typical	typical	ADJ
fsr-3796	109	16	of	of	ADP
fsr-3796	109	17	higher	high	ADJ
fsr-3796	109	18	income	income	NOUN
fsr-3796	109	19	borrowers	borrower	NOUN
fsr-3796	109	20	.	.	PUNCT
fsr-3796	110	1	for	for	ADP
fsr-3796	110	2	each	each	DET
fsr-3796	110	3	iteration	iteration	NOUN
fsr-3796	110	4	,	,	PUNCT
fsr-3796	110	5	the	the	DET
fsr-3796	110	6	spreadsheet	spreadsheet	NOUN
fsr-3796	110	7	collects	collect	VERB
fsr-3796	110	8	the	the	DET
fsr-3796	110	9	following	following	ADJ
fsr-3796	110	10	items	item	NOUN
fsr-3796	110	11	:	:	PUNCT
fsr-3796	110	12	l	l	NOUN
fsr-3796	110	13	the	the	DET
fsr-3796	110	14	difference	difference	NOUN
fsr-3796	110	15	in	in	ADP
fsr-3796	110	16	present	present	ADJ
fsr-3796	110	17	value	value	NOUN
fsr-3796	110	18	cost	cost	NOUN
fsr-3796	110	19	between	between	ADP
fsr-3796	110	20	the	the	DET
fsr-3796	110	21	frm	frm	PROPN
fsr-3796	110	22	and	and	CCONJ
fsr-3796	110	23	the	the	DET
fsr-3796	110	24	arm	arm	NOUN
fsr-3796	110	25	using	use	VERB
fsr-3796	110	26	equa	equa	NOUN
fsr-3796	110	27	tion	tion	NOUN
fsr-3796	110	28	1	1	NUM
fsr-3796	110	29	to	to	PART
fsr-3796	110	30	calculate	calculate	VERB
fsr-3796	110	31	each	each	PRON
fsr-3796	110	32	.	.	PUNCT
fsr-3796	111	1	we	we	PRON
fsr-3796	111	2	calculate	calculate	VERB
fsr-3796	111	3	the	the	DET
fsr-3796	111	4	difference	difference	NOUN
fsr-3796	111	5	in	in	ADP
fsr-3796	111	6	present	present	ADJ
fsr-3796	111	7	value	value	NOUN
fsr-3796	111	8	cost	cost	NOUN
fsr-3796	111	9	assum	assum	VERB
fsr-3796	111	10	ing	ing	ADJ
fsr-3796	111	11	termination	termination	NOUN
fsr-3796	111	12	of	of	ADP
fsr-3796	111	13	the	the	DET
fsr-3796	111	14	mortgage	mortgage	NOUN
fsr-3796	111	15	in	in	ADP
fsr-3796	111	16	each	each	PRON
fsr-3796	111	17	of	of	ADP
fsr-3796	111	18	years	year	NOUN
fsr-3796	111	19	1	1	NUM
fsr-3796	111	20	through	through	ADP
fsr-3796	111	21	30	30	NUM
fsr-3796	111	22	.	.	PUNCT
fsr-3796	112	1	l	l	X
fsr-3796	113	1	the	the	DET
fsr-3796	113	2	breakeven	breakeven	ADJ
fsr-3796	113	3	period	period	NOUN
fsr-3796	113	4	-	-	PUNCT
fsr-3796	113	5	the	the	DET
fsr-3796	113	6	number	number	NOUN
fsr-3796	113	7	of	of	ADP
fsr-3796	113	8	years	year	NOUN
fsr-3796	113	9	for	for	ADP
fsr-3796	113	10	which	which	PRON
fsr-3796	113	11	the	the	DET
fsr-3796	113	12	arm	arm	NOUN
fsr-3796	113	13	maintains	maintain	VERB
fsr-3796	113	14	its	its	PRON
fsr-3796	113	15	present	present	ADJ
fsr-3796	113	16	value	value	NOUN
fsr-3796	113	17	cost	cost	NOUN
fsr-3796	113	18	advantage	advantage	NOUN
fsr-3796	113	19	from	from	ADP
fsr-3796	113	20	the	the	DET
fsr-3796	113	21	initiation	initiation	NOUN
fsr-3796	113	22	of	of	ADP
fsr-3796	113	23	the	the	DET
fsr-3796	113	24	loan	loan	NOUN
fsr-3796	113	25	.	.	PUNCT
fsr-3796	114	1	typically	typically	ADV
fsr-3796	114	2	,	,	PUNCT
fsr-3796	114	3	an	an	DET
fsr-3796	114	4	arm	arm	NOUN
fsr-3796	114	5	begins	begin	VERB
fsr-3796	114	6	with	with	ADP
fsr-3796	114	7	a	a	DET
fsr-3796	114	8	lower	low	ADJ
fsr-3796	114	9	mortgage	mortgage	NOUN
fsr-3796	114	10	rate	rate	NOUN
fsr-3796	114	11	so	so	SCONJ
fsr-3796	114	12	that	that	SCONJ
fsr-3796	114	13	termination	termination	NOUN
fsr-3796	114	14	of	of	ADP
fsr-3796	114	15	the	the	DET
fsr-3796	114	16	mortgage	mortgage	NOUN
fsr-3796	114	17	in	in	ADP
fsr-3796	114	18	the	the	DET
fsr-3796	114	19	early	early	ADJ
fsr-3796	114	20	years	year	NOUN
fsr-3796	114	21	will	will	AUX
fsr-3796	114	22	result	result	VERB
fsr-3796	114	23	in	in	ADP
fsr-3796	114	24	a	a	DET
fsr-3796	114	25	present	present	ADJ
fsr-3796	114	26	value	value	NOUN
fsr-3796	114	27	cost	cost	NOUN
fsr-3796	114	28	advantage	advantage	NOUN
fsr-3796	114	29	for	for	ADP
fsr-3796	114	30	the	the	DET
fsr-3796	114	31	arm	arm	NOUN
fsr-3796	114	32	.	.	PUNCT
fsr-3796	115	1	this	this	DET
fsr-3796	115	2	advantage	advantage	NOUN
fsr-3796	115	3	often	often	ADV
fsr-3796	115	4	disappears	disappear	VERB
fsr-3796	115	5	as	as	SCONJ
fsr-3796	115	6	the	the	DET
fsr-3796	115	7	life	life	NOUN
fsr-3796	115	8	of	of	ADP
fsr-3796	115	9	the	the	DET
fsr-3796	115	10	mortgage	mortgage	NOUN
fsr-3796	115	11	lengthens	lengthen	VERB
fsr-3796	115	12	and	and	CCONJ
fsr-3796	115	13	the	the	DET
fsr-3796	115	14	arm	arm	NOUN
fsr-3796	115	15	mortgage	mortgage	NOUN
fsr-3796	115	16	rate	rate	NOUN
fsr-3796	115	17	has	have	VERB
fsr-3796	115	18	the	the	DET
fsr-3796	115	19	opportunity	opportunity	NOUN
fsr-3796	115	20	to	to	PART
fsr-3796	115	21	move	move	VERB
fsr-3796	115	22	higher	high	ADJ
fsr-3796	115	23	than	than	ADP
fsr-3796	115	24	the	the	DET
fsr-3796	115	25	frm	frm	PROPN
fsr-3796	115	26	,	,	PUNCT
fsr-3796	115	27	although	although	SCONJ
fsr-3796	115	28	it	it	PRON
fsr-3796	115	29	is	be	AUX
fsr-3796	115	30	possible	possible	ADJ
fsr-3796	115	31	for	for	SCONJ
fsr-3796	115	32	the	the	DET
fsr-3796	115	33	arm	arm	NOUN
fsr-3796	115	34	to	to	PART
fsr-3796	115	35	have	have	VERB
fsr-3796	115	36	a	a	DET
fsr-3796	115	37	present	present	ADJ
fsr-3796	115	38	value	value	NOUN
fsr-3796	115	39	cost	cost	NOUN
fsr-3796	115	40	advantage	advantage	NOUN
fsr-3796	115	41	for	for	ADP
fsr-3796	115	42	the	the	DET
fsr-3796	115	43	entire	entire	ADJ
fsr-3796	115	44	term	term	NOUN
fsr-3796	115	45	of	of	ADP
fsr-3796	115	46	the	the	DET
fsr-3796	115	47	mortgage	mortgage	NOUN
fsr-3796	115	48	.	.	PUNCT
fsr-3796	116	1	because	because	SCONJ
fsr-3796	116	2	of	of	ADP
fsr-3796	116	3	present	present	ADJ
fsr-3796	116	4	value	value	NOUN
fsr-3796	116	5	principles	principle	NOUN
fsr-3796	116	6	,	,	PUNCT
fsr-3796	116	7	the	the	DET
fsr-3796	116	8	years	year	NOUN
fsr-3796	116	9	of	of	ADP
fsr-3796	116	10	initial	initial	ADJ
fsr-3796	116	11	cost	cost	NOUN
fsr-3796	116	12	advantage	advantage	NOUN
fsr-3796	116	13	for	for	ADP
fsr-3796	116	14	the	the	DET
fsr-3796	116	15	arm	arm	NOUN
fsr-3796	116	16	may	may	AUX
fsr-3796	116	17	extend	extend	VERB
fsr-3796	116	18	several	several	ADJ
fsr-3796	116	19	years	year	NOUN
fsr-3796	116	20	after	after	SCONJ
fsr-3796	116	21	the	the	DET
fsr-3796	116	22	arm	arm	NOUN
fsr-3796	116	23	mortgage	mortgage	NOUN
fsr-3796	116	24	rate	rate	NOUN
fsr-3796	116	25	has	have	AUX
fsr-3796	116	26	risen	rise	VERB
fsr-3796	116	27	above	above	ADP
fsr-3796	116	28	the	the	DET
fsr-3796	116	29	frm	frm	PROPN
fsr-3796	116	30	rate	rate	NOUN
fsr-3796	116	31	.	.	PUNCT
fsr-3796	117	1	l	l	NOUN
fsr-3796	118	1	the	the	DET
fsr-3796	118	2	thirty	thirty	NUM
fsr-3796	118	3	different	different	ADJ
fsr-3796	118	4	payment	payment	NOUN
fsr-3796	118	5	amounts	amount	NOUN
fsr-3796	118	6	for	for	ADP
fsr-3796	118	7	the	the	DET
fsr-3796	118	8	arm	arm	NOUN
fsr-3796	118	9	and	and	CCONJ
fsr-3796	118	10	the	the	DET
fsr-3796	118	11	payment	payment	NOUN
fsr-3796	118	12	for	for	ADP
fsr-3796	118	13	the	the	DET
fsr-3796	118	14	frm	frm	PROPN
fsr-3796	118	15	.	.	PUNCT
fsr-3796	119	1	each	each	DET
fsr-3796	119	2	simulation	simulation	NOUN
fsr-3796	119	3	consists	consist	VERB
fsr-3796	119	4	of	of	ADP
fsr-3796	119	5	one	one	NUM
fsr-3796	119	6	thousand	thousand	NUM
fsr-3796	119	7	iterations	iteration	NOUN
fsr-3796	119	8	.	.	PUNCT
fsr-3796	120	1	expected	expect	VERB
fsr-3796	120	2	values	value	NOUN
fsr-3796	120	3	and	and	CCONJ
fsr-3796	120	4	a	a	DET
fsr-3796	120	5	distribu	distribu	NOUN
fsr-3796	120	6	tion	tion	NOUN
fsr-3796	120	7	of	of	ADP
fsr-3796	120	8	values	value	NOUN
fsr-3796	120	9	for	for	ADP
fsr-3796	120	10	the	the	DET
fsr-3796	120	11	collected	collect	VERB
fsr-3796	120	12	items	item	NOUN
fsr-3796	120	13	are	be	AUX
fsr-3796	120	14	then	then	ADV
fsr-3796	120	15	compiled	compile	VERB
fsr-3796	120	16	.	.	PUNCT
fsr-3796	121	1	iii	iii	X
fsr-3796	121	2	.	.	PUNCT
fsr-3796	121	3	low	low	ADJ
fsr-3796	121	4	interest	interest	NOUN
fsr-3796	121	5	rate	rate	NOUN
fsr-3796	121	6	environme~	environme~	PROPN
fsr-3796	121	7	simulation	simulation	NOUN
fsr-3796	121	8	month	month	NOUN
fsr-3796	121	9	end	end	NOUN
fsr-3796	121	10	of	of	ADP
fsr-3796	121	11	september	september	PROPN
fsr-3796	121	12	1992	1992	NUM
fsr-3796	121	13	represented	represent	VERB
fsr-3796	121	14	a	a	DET
fsr-3796	121	15	time	time	NOUN
fsr-3796	121	16	of	of	ADP
fsr-3796	121	17	relatively	relatively	ADV
fsr-3796	121	18	low	low	ADJ
fsr-3796	121	19	interest	interest	NOUN
fsr-3796	121	20	rates	rate	NOUN
fsr-3796	121	21	.	.	PUNCT
fsr-3796	122	1	we	we	PRON
fsr-3796	122	2	per	per	ADP
fsr-3796	122	3	formed	form	VERB
fsr-3796	122	4	this	this	DET
fsr-3796	122	5	first	first	ADJ
fsr-3796	122	6	simulation	simulation	NOUN
fsr-3796	122	7	using	use	VERB
fsr-3796	122	8	the	the	DET
fsr-3796	122	9	parameters	parameter	NOUN
fsr-3796	122	10	shown	show	VERB
fsr-3796	122	11	in	in	ADP
fsr-3796	122	12	table	table	NOUN
fsr-3796	122	13	2	2	NUM
fsr-3796	122	14	.	.	PUNCT
fsr-3796	123	1	we	we	PRON
fsr-3796	123	2	define	define	VERB
fsr-3796	123	3	the	the	DET
fsr-3796	123	4	differ	differ	NOUN
fsr-3796	123	5	ence	ence	NOUN
fsr-3796	123	6	between	between	ADP
fsr-3796	123	7	the	the	DET
fsr-3796	123	8	initial	initial	ADJ
fsr-3796	123	9	composite	composite	ADJ
fsr-3796	123	10	rate	rate	NOUN
fsr-3796	123	11	and	and	CCONJ
fsr-3796	123	12	the	the	DET
fsr-3796	123	13	initial	initial	ADJ
fsr-3796	123	14	mortgage	mortgage	NOUN
fsr-3796	123	15	rate	rate	NOUN
fsr-3796	123	16	offered	offer	VERB
fsr-3796	123	17	by	by	ADP
fsr-3796	123	18	the	the	DET
fsr-3796	123	19	lender	lender	NOUN
fsr-3796	123	20	as	as	ADP
fsr-3796	123	21	the	the	DET
fsr-3796	123	22	teaser	teaser	NOUN
fsr-3796	123	23	discount	discount	NOUN
fsr-3796	123	24	.	.	PUNCT
fsr-3796	124	1	it	it	PRON
fsr-3796	124	2	is	be	AUX
fsr-3796	124	3	customary	customary	ADJ
fsr-3796	124	4	for	for	SCONJ
fsr-3796	124	5	lenders	lender	NOUN
fsr-3796	124	6	to	to	PART
fsr-3796	124	7	entice	entice	VERB
fsr-3796	124	8	borrowers	borrower	NOUN
fsr-3796	124	9	to	to	PART
fsr-3796	124	10	choose	choose	VERB
fsr-3796	124	11	an	an	DET
fsr-3796	124	12	arm	arm	NOUN
fsr-3796	124	13	by	by	ADP
fsr-3796	124	14	offering	offer	VERB
fsr-3796	124	15	an	an	DET
fsr-3796	124	16	initial	initial	ADJ
fsr-3796	124	17	mortgage	mortgage	NOUN
fsr-3796	124	18	rate	rate	NOUN
fsr-3796	124	19	below	below	ADP
fsr-3796	124	20	the	the	DET
fsr-3796	124	21	composite	composite	ADJ
fsr-3796	124	22	rate	rate	NOUN
fsr-3796	124	23	for	for	ADP
fsr-3796	124	24	the	the	DET
fsr-3796	124	25	first	first	ADJ
fsr-3796	124	26	year	year	NOUN
fsr-3796	124	27	.	.	PUNCT
fsr-3796	125	1	at	at	ADP
fsr-3796	125	2	the	the	DET
fsr-3796	125	3	first	first	ADJ
fsr-3796	125	4	annual	annual	ADJ
fsr-3796	125	5	adjustment	adjustment	NOUN
fsr-3796	125	6	,	,	PUNCT
fsr-3796	125	7	the	the	DET
fsr-3796	125	8	mortgage	mortgage	NOUN
fsr-3796	125	9	rate	rate	NOUN
fsr-3796	125	10	would	would	AUX
fsr-3796	125	11	increase	increase	VERB
fsr-3796	125	12	even	even	ADV
fsr-3796	125	13	if	if	SCONJ
fsr-3796	125	14	the	the	DET
fsr-3796	125	15	index	index	NOUN
fsr-3796	125	16	rate	rate	NOUN
fsr-3796	125	17	did	do	AUX
fsr-3796	125	18	not	not	PART
fsr-3796	125	19	increase	increase	VERB
fsr-3796	125	20	,	,	PUNCT
fsr-3796	125	21	because	because	SCONJ
fsr-3796	125	22	the	the	DET
fsr-3796	125	23	teaser	teaser	NOUN
fsr-3796	125	24	discount	discount	NOUN
fsr-3796	125	25	disappears	disappear	VERB
fsr-3796	125	26	.	.	PUNCT
fsr-3796	126	1	figures	figure	NOUN
fsr-3796	126	2	3,4	3,4	NUM
fsr-3796	126	3	,	,	PUNCT
fsr-3796	126	4	and	and	CCONJ
fsr-3796	126	5	5	5	NUM
fsr-3796	126	6	show	show	NOUN
fsr-3796	126	7	results	result	NOUN
fsr-3796	126	8	of	of	ADP
fsr-3796	126	9	the	the	DET
fsr-3796	126	10	low	low	ADJ
fsr-3796	126	11	interest	interest	NOUN
fsr-3796	126	12	rate	rate	NOUN
fsr-3796	126	13	environment	environment	NOUN
fsr-3796	126	14	simulation	simulation	NOUN
fsr-3796	126	15	.	.	PUNCT
fsr-3796	127	1	in	in	ADP
fsr-3796	127	2	fig	fig	NOUN
fsr-3796	127	3	ure	ure	NOUN
fsr-3796	127	4	3	3	NUM
fsr-3796	127	5	,	,	PUNCT
fsr-3796	127	6	the	the	DET
fsr-3796	127	7	heavy	heavy	ADJ
fsr-3796	127	8	black	black	ADJ
fsr-3796	127	9	line	line	NOUN
fsr-3796	127	10	shows	show	VERB
fsr-3796	127	11	the	the	DET
fsr-3796	127	12	expected	expect	VERB
fsr-3796	127	13	present	present	ADJ
fsr-3796	127	14	value	value	NOUN
fsr-3796	127	15	cost	cost	NOUN
fsr-3796	127	16	difference	difference	NOUN
fsr-3796	127	17	(	(	PUNCT
fsr-3796	127	18	m	m	NOUN
fsr-3796	127	19	-	-	NOUN
fsr-3796	127	20	arm	arm	NOUN
fsr-3796	127	21	)	)	PUNCT
fsr-3796	127	22	for	for	ADP
fsr-3796	127	23	mortgage	mortgage	NOUN
fsr-3796	127	24	lives	life	NOUN
fsr-3796	127	25	ranging	range	VERB
fsr-3796	127	26	from	from	ADP
fsr-3796	127	27	1	1	NUM
fsr-3796	127	28	to	to	PART
fsr-3796	127	29	30	30	NUM
fsr-3796	127	30	years	year	NOUN
fsr-3796	127	31	.	.	PUNCT
fsr-3796	128	1	when	when	SCONJ
fsr-3796	128	2	the	the	DET
fsr-3796	128	3	line	line	NOUN
fsr-3796	128	4	appears	appear	VERB
fsr-3796	128	5	above	above	ADP
fsr-3796	128	6	the	the	DET
fsr-3796	128	7	ho	ho	PROPN
fsr-3796	128	8	~	~	PROPN
fsr-3796	128	9	zontal	zontal	NOUN
fsr-3796	128	10	axis	axis	NOUN
fsr-3796	128	11	the	the	DET
fsr-3796	128	12	cost	cost	NOUN
fsr-3796	128	13	advantage	advantage	NOUN
fsr-3796	128	14	is	be	AUX
fsr-3796	128	15	with	with	ADP
fsr-3796	128	16	the	the	DET
fsr-3796	128	17	arm	arm	NOUN
fsr-3796	128	18	.	.	PUNCT
fsr-3796	129	1	when	when	SCONJ
fsr-3796	129	2	it	it	PRON
fsr-3796	129	3	goes	go	VERB
fsr-3796	129	4	below	below	ADP
fsr-3796	129	5	the	the	DET
fsr-3796	129	6	axis	axis	NOUN
fsr-3796	129	7	the	the	DET
fsr-3796	129	8	frm	frm	PROPN
fsr-3796	129	9	has	have	VERB
fsr-3796	129	10	the	the	DET
fsr-3796	129	11	cost	cost	NOUN
fsr-3796	129	12	advantage	advantage	NOUN
fsr-3796	129	13	.	.	PUNCT
fsr-3796	130	1	this	this	DET
fsr-3796	130	2	line	line	NOUN
fsr-3796	130	3	resembles	resemble	VERB
fsr-3796	130	4	the	the	DET
fsr-3796	130	5	results	result	NOUN
fsr-3796	130	6	shown	show	VERB
fsr-3796	130	7	in	in	ADP
fsr-3796	130	8	figure	figure	NOUN
fsr-3796	130	9	2	2	NUM
fsr-3796	130	10	of	of	ADP
fsr-3796	130	11	tucker	tucker	PROPN
fsr-3796	130	12	’s	’s	PART
fsr-3796	130	13	(	(	PUNCT
fsr-3796	130	14	1991	1991	NUM
fsr-3796	130	15	,	,	PUNCT
fsr-3796	130	16	p.	p.	NOUN
fsr-3796	130	17	455	455	NUM
fsr-3796	130	18	)	)	PUNCT
fsr-3796	130	19	study	study	NOUN
fsr-3796	130	20	.	.	PUNCT
fsr-3796	131	1	our	our	PRON
fsr-3796	131	2	figure	figure	NOUN
fsr-3796	131	3	3	3	NUM
fsr-3796	131	4	contains	contain	VERB
fsr-3796	131	5	more	more	ADJ
fsr-3796	131	6	information	information	NOUN
fsr-3796	131	7	,	,	PUNCT
fsr-3796	131	8	however	however	ADV
fsr-3796	131	9	.	.	PUNCT
fsr-3796	132	1	it	it	PRON
fsr-3796	132	2	also	also	ADV
fsr-3796	132	3	shows	show	VERB
fsr-3796	132	4	the	the	DET
fsr-3796	132	5	expected	expect	VERB
fsr-3796	132	6	present	present	ADJ
fsr-3796	132	7	value	value	NOUN
fsr-3796	132	8	cost	cost	NOUN
fsr-3796	132	9	difference	difference	NOUN
fsr-3796	132	10	plus	plus	CCONJ
fsr-3796	132	11	or	or	CCONJ
fsr-3796	132	12	minus	minus	ADP
fsr-3796	132	13	one	one	NUM
fsr-3796	132	14	standard	standard	ADJ
fsr-3796	132	15	deviation	deviation	NOUN
fsr-3796	132	16	and	and	CCONJ
fsr-3796	132	17	the	the	DET
fsr-3796	132	18	range	range	NOUN
fsr-3796	132	19	that	that	PRON
fsr-3796	132	20	includes	include	VERB
fsr-3796	132	21	ninety	ninety	NUM
fsr-3796	132	22	percent	percent	NOUN
fsr-3796	132	23	of	of	ADP
fsr-3796	132	24	the	the	DET
fsr-3796	132	25	present	present	ADJ
fsr-3796	132	26	value	value	NOUN
fsr-3796	132	27	cost	cost	NOUN
fsr-3796	132	28	differentials	differential	NOUN
fsr-3796	132	29	.	.	PUNCT
fsr-3796	133	1	from	from	ADP
fsr-3796	133	2	figure	figure	NOUN
fsr-3796	133	3	3	3	NUM
fsr-3796	133	4	we	we	PRON
fsr-3796	133	5	see	see	VERB
fsr-3796	133	6	that	that	SCONJ
fsr-3796	133	7	if	if	SCONJ
fsr-3796	133	8	an	an	DET
fsr-3796	133	9	individual	individual	NOUN
fsr-3796	133	10	with	with	ADP
fsr-3796	133	11	a	a	DET
fsr-3796	133	12	4	4	NUM
fsr-3796	133	13	%	%	NOUN
fsr-3796	133	14	discount	discount	NOUN
fsr-3796	133	15	rate	rate	NOUN
fsr-3796	133	16	were	be	AUX
fsr-3796	133	17	to	to	PART
fsr-3796	133	18	hold	hold	VERB
fsr-3796	133	19	a	a	DET
fsr-3796	133	20	mortgage	mortgage	NOUN
fsr-3796	133	21	just	just	ADV
fsr-3796	133	22	6	6	NUM
fsr-3796	133	23	years	year	NOUN
fsr-3796	133	24	,	,	PUNCT
fsr-3796	133	25	the	the	DET
fsr-3796	133	26	arm	arm	NOUN
fsr-3796	133	27	would	would	AUX
fsr-3796	133	28	have	have	VERB
fsr-3796	133	29	an	an	DET
fsr-3796	133	30	expected	expect	VERB
fsr-3796	133	31	present	present	ADJ
fsr-3796	133	32	value	value	NOUN
fsr-3796	133	33	cost	cost	NOUN
fsr-3796	133	34	advantage	advantage	NOUN
fsr-3796	133	35	of	of	ADP
fsr-3796	133	36	approximately	approximately	ADV
fsr-3796	133	37	$	$	SYM
fsr-3796	133	38	5,000	5,000	NUM
fsr-3796	133	39	.	.	PUNCT
fsr-3796	134	1	the	the	DET
fsr-3796	134	2	distribution	distribution	NOUN
fsr-3796	134	3	around	around	ADP
fsr-3796	134	4	that	that	DET
fsr-3796	134	5	expected	expect	VERB
fsr-3796	134	6	advantage	advantage	NOUN
fsr-3796	134	7	,	,	PUNCT
fsr-3796	134	8	though	though	ADV
fsr-3796	134	9	,	,	PUNCT
fsr-3796	134	10	suggests	suggest	VERB
fsr-3796	134	11	there	there	PRON
fsr-3796	134	12	could	could	AUX
fsr-3796	134	13	be	be	AUX
fsr-3796	134	14	a	a	DET
fsr-3796	134	15	cost	cost	NOUN
fsr-3796	134	16	disadvantage	disadvantage	NOUN
fsr-3796	134	17	to	to	ADP
fsr-3796	134	18	the	the	DET
fsr-3796	134	19	108	108	NUM
fsr-3796	134	20	financial	financial	ADJ
fsr-3796	134	21	services	service	NOUN
fsr-3796	134	22	review	review	NOUN
fsr-3796	134	23	s(2	s(2	NOUN
fsr-3796	134	24	)	)	PUNCT
fsr-3796	134	25	1996	1996	NUM
fsr-3796	134	26	arm	arm	NOUN
fsr-3796	134	27	for	for	ADP
fsr-3796	134	28	that	that	DET
fsr-3796	134	29	mortgage	mortgage	NOUN
fsr-3796	134	30	life	life	NOUN
fsr-3796	134	31	in	in	ADP
fsr-3796	134	32	roughly	roughly	ADV
fsr-3796	134	33	one	one	NUM
fsr-3796	134	34	-	-	PUNCT
fsr-3796	134	35	sixth	sixth	NOUN
fsr-3796	134	36	of	of	ADP
fsr-3796	134	37	the	the	DET
fsr-3796	134	38	cases	case	NOUN
fsr-3796	134	39	.	.	PUNCT
fsr-3796	135	1	at	at	ADP
fsr-3796	135	2	the	the	DET
fsr-3796	135	3	extremes	extreme	NOUN
fsr-3796	135	4	,	,	PUNCT
fsr-3796	135	5	the	the	DET
fsr-3796	135	6	arm	arm	NOUN
fsr-3796	135	7	could	could	AUX
fsr-3796	135	8	have	have	VERB
fsr-3796	135	9	a	a	DET
fsr-3796	135	10	cost	cost	NOUN
fsr-3796	135	11	advantage	advantage	NOUN
fsr-3796	135	12	of	of	ADP
fsr-3796	135	13	roughly	roughly	ADV
fsr-3796	135	14	$	$	SYM
fsr-3796	135	15	11,000	11,000	NUM
fsr-3796	135	16	or	or	CCONJ
fsr-3796	135	17	the	the	DET
fsr-3796	135	18	ffw	ffw	NOUN
fsr-3796	135	19	could	could	AUX
fsr-3796	135	20	have	have	VERB
fsr-3796	135	21	a	a	DET
fsr-3796	135	22	cost	cost	NOUN
fsr-3796	135	23	advantage	advantage	NOUN
fsr-3796	135	24	of	of	ADP
fsr-3796	135	25	roughly	roughly	ADV
fsr-3796	135	26	$	$	SYM
fsr-3796	135	27	6,000	6,000	NUM
fsr-3796	135	28	.	.	PUNCT
fsr-3796	136	1	the	the	DET
fsr-3796	136	2	iterations	iteration	NOUN
fsr-3796	136	3	produce	produce	VERB
fsr-3796	136	4	widely	widely	ADV
fsr-3796	136	5	disparate	disparate	ADJ
fsr-3796	136	6	results	result	NOUN
fsr-3796	136	7	,	,	PUNCT
fsr-3796	136	8	and	and	CCONJ
fsr-3796	136	9	the	the	DET
fsr-3796	136	10	expected	expect	VERB
fsr-3796	136	11	cost	cost	NOUN
fsr-3796	136	12	is	be	AUX
fsr-3796	136	13	just	just	ADV
fsr-3796	136	14	one	one	NUM
fsr-3796	136	15	component	component	NOUN
fsr-3796	136	16	of	of	ADP
fsr-3796	136	17	a	a	DET
fsr-3796	136	18	thorough	thorough	ADJ
fsr-3796	136	19	analysis	analysis	NOUN
fsr-3796	136	20	.	.	PUNCT
fsr-3796	137	1	borrowers	borrower	NOUN
fsr-3796	137	2	must	must	AUX
fsr-3796	137	3	compare	compare	VERB
fsr-3796	137	4	these	these	DET
fsr-3796	137	5	expected	expect	VERB
fsr-3796	137	6	bene	bene	NOUN
fsr-3796	137	7	fits	fit	VERB
fsr-3796	137	8	to	to	ADP
fsr-3796	137	9	the	the	DET
fsr-3796	137	10	risks	risk	NOUN
fsr-3796	137	11	inherent	inherent	ADJ
fsr-3796	137	12	in	in	ADP
fsr-3796	137	13	the	the	DET
fsr-3796	137	14	arm	arm	NOUN
fsr-3796	137	15	.	.	PUNCT
fsr-3796	138	1	an	an	DET
fsr-3796	138	2	inference	inference	NOUN
fsr-3796	138	3	that	that	PRON
fsr-3796	138	4	may	may	AUX
fsr-3796	138	5	be	be	AUX
fsr-3796	138	6	drawn	draw	VERB
fsr-3796	138	7	from	from	ADP
fsr-3796	138	8	the	the	DET
fsr-3796	138	9	expected	expect	VERB
fsr-3796	138	10	cost	cost	NOUN
fsr-3796	138	11	information	information	NOUN
fsr-3796	138	12	is	be	AUX
fsr-3796	138	13	that	that	SCONJ
fsr-3796	138	14	the	the	DET
fsr-3796	138	15	arm	arm	NOUN
fsr-3796	138	16	is	be	AUX
fsr-3796	138	17	advantageous	advantageous	ADJ
fsr-3796	138	18	as	as	ADV
fsr-3796	138	19	long	long	ADV
fsr-3796	138	20	as	as	SCONJ
fsr-3796	138	21	the	the	DET
fsr-3796	138	22	expected	expect	VERB
fsr-3796	138	23	mortgage	mortgage	NOUN
fsr-3796	138	24	life	life	NOUN
fsr-3796	138	25	is	be	AUX
fsr-3796	138	26	14	14	NUM
fsr-3796	138	27	years	year	NOUN
fsr-3796	138	28	or	or	CCONJ
fsr-3796	138	29	less	less	ADJ
fsr-3796	138	30	.	.	PUNCT
fsr-3796	139	1	in	in	ADP
fsr-3796	139	2	figure	figure	NOUN
fsr-3796	139	3	4	4	NUM
fsr-3796	139	4	,	,	PUNCT
fsr-3796	139	5	we	we	PRON
fsr-3796	139	6	show	show	VERB
fsr-3796	139	7	the	the	DET
fsr-3796	139	8	distribution	distribution	NOUN
fsr-3796	139	9	of	of	ADP
fsr-3796	139	10	this	this	DET
fsr-3796	139	11	initial	initial	ADJ
fsr-3796	139	12	cost	cost	NOUN
fsr-3796	139	13	advantage	advantage	NOUN
fsr-3796	139	14	to	to	ADP
fsr-3796	139	15	the	the	DET
fsr-3796	139	16	arm	arm	NOUN
fsr-3796	139	17	.	.	PUNCT
fsr-3796	140	1	of	of	ADP
fsr-3796	140	2	the	the	DET
fsr-3796	140	3	1,000	1,000	NUM
fsr-3796	140	4	iterations	iteration	NOUN
fsr-3796	140	5	,	,	PUNCT
fsr-3796	140	6	the	the	DET
fsr-3796	140	7	arm	arm	NOUN
fsr-3796	140	8	present	present	ADJ
fsr-3796	140	9	value	value	NOUN
fsr-3796	140	10	cost	cost	NOUN
fsr-3796	140	11	dominated	dominate	VERB
fsr-3796	140	12	the	the	DET
fsr-3796	140	13	frm	frm	PROPN
fsr-3796	140	14	cost	cost	NOUN
fsr-3796	140	15	for	for	ADP
fsr-3796	140	16	the	the	DET
fsr-3796	140	17	entire	entire	ADJ
fsr-3796	140	18	thirty	thirty	NUM
fsr-3796	140	19	year	year	NOUN
fsr-3796	140	20	term	term	NOUN
fsr-3796	140	21	over	over	ADP
fsr-3796	140	22	35	35	NUM
fsr-3796	140	23	percent	percent	NOUN
fsr-3796	140	24	of	of	ADP
fsr-3796	140	25	the	the	DET
fsr-3796	140	26	time	time	NOUN
fsr-3796	140	27	.	.	PUNCT
fsr-3796	141	1	on	on	ADP
fsr-3796	141	2	the	the	DET
fsr-3796	141	3	other	other	ADJ
fsr-3796	141	4	hand	hand	NOUN
fsr-3796	141	5	,	,	PUNCT
fsr-3796	141	6	the	the	DET
fsr-3796	141	7	initial	initial	ADJ
fsr-3796	141	8	cost	cost	NOUN
fsr-3796	141	9	advantage	advantage	NOUN
fsr-3796	141	10	to	to	ADP
fsr-3796	141	11	the	the	DET
fsr-3796	141	12	arm	arm	NOUN
fsr-3796	141	13	would	would	AUX
fsr-3796	141	14	have	have	AUX
fsr-3796	141	15	lasted	last	VERB
fsr-3796	141	16	only	only	ADV
fsr-3796	141	17	3	3	NUM
fsr-3796	141	18	years	year	NOUN
fsr-3796	141	19	about	about	ADV
fsr-3796	141	20	8	8	NUM
fsr-3796	141	21	percent	percent	NOUN
fsr-3796	141	22	of	of	ADP
fsr-3796	141	23	the	the	DET
fsr-3796	141	24	time	time	NOUN
fsr-3796	141	25	.	.	PUNCT
fsr-3796	142	1	clearly	clearly	ADV
fsr-3796	142	2	,	,	PUNCT
fsr-3796	142	3	the	the	DET
fsr-3796	142	4	expected	expect	VERB
fsr-3796	142	5	value	value	NOUN
fsr-3796	142	6	of	of	ADP
fsr-3796	142	7	14	14	NUM
fsr-3796	142	8	years	year	NOUN
fsr-3796	142	9	means	mean	VERB
fsr-3796	142	10	little	little	ADJ
fsr-3796	142	11	given	give	VERB
fsr-3796	142	12	the	the	DET
fsr-3796	142	13	distribution	distribution	NOUN
fsr-3796	142	14	of	of	ADP
fsr-3796	142	15	these	these	DET
fsr-3796	142	16	results	result	NOUN
fsr-3796	142	17	.	.	PUNCT
fsr-3796	143	1	one	one	PRON
fsr-3796	143	2	must	must	AUX
fsr-3796	143	3	be	be	AUX
fsr-3796	143	4	careful	careful	ADJ
fsr-3796	143	5	in	in	ADP
fsr-3796	143	6	interpreting	interpret	VERB
fsr-3796	143	7	fig	fig	NOUN
fsr-3796	143	8	50,000	50,000	NUM
fsr-3796	143	9	40,000	40,000	NUM
fsr-3796	143	10	30,000	30,000	NUM
fsr-3796	143	11	20,000	20,000	NUM
fsr-3796	143	12	tl	tl	PROPN
fsr-3796	143	13	q	q	PROPN
fsr-3796	143	14	z	z	PROPN
fsr-3796	143	15	0	0	NUM
fsr-3796	143	16	10,000	10,000	NUM
fsr-3796	143	17	i	i	NOUN
fsr-3796	143	18	”	"	PUNCT
fsr-3796	144	1	z	z	NOUN
fsr-3796	144	2	e	e	NOUN
fsr-3796	144	3	$	$	SYM
fsr-3796	144	4	0	0	NUM
fsr-3796	144	5	e	e	NOUN
fsr-3796	144	6	!	!	PUNCT
fsr-3796	145	1	a	a	DET
fsr-3796	145	2	-10,000	-10,000	PROPN
fsr-3796	145	3	-20,000	-20,000	PROPN
fsr-3796	145	4	-30,000	-30,000	PUNCT
fsr-3796	145	5	~0,000	~0,000	NUM
fsr-3796	145	6	4	4	NUM
fsr-3796	145	7	arm	arm	NOUN
fsr-3796	145	8	advantage	advantage	NOUN
fsr-3796	145	9	life	life	NOUN
fsr-3796	145	10	of	of	ADP
fsr-3796	145	11	mortgage	mortgage	NOUN
fsr-3796	145	12	figure	figure	NOUN
fsr-3796	145	13	3	3	NUM
fsr-3796	145	14	.	.	PUNCT
fsr-3796	145	15	low	low	ADJ
fsr-3796	145	16	interest	interest	NOUN
fsr-3796	145	17	rate	rate	NOUN
fsr-3796	145	18	environment	environment	NOUN
fsr-3796	145	19	cost	cost	VERB
fsr-3796	145	20	comparison	comparison	NOUN
fsr-3796	145	21	.	.	PUNCT
fsr-3796	146	1	the	the	DET
fsr-3796	146	2	heavy	heavy	ADJ
fsr-3796	146	3	black	black	ADJ
fsr-3796	146	4	line	line	NOUN
fsr-3796	146	5	indicates	indicate	VERB
fsr-3796	146	6	the	the	DET
fsr-3796	146	7	expected	expect	VERB
fsr-3796	146	8	present	present	ADJ
fsr-3796	146	9	value	value	NOUN
fsr-3796	146	10	cost	cost	NOUN
fsr-3796	146	11	differential	differential	NOUN
fsr-3796	146	12	(	(	PUNCT
fsr-3796	146	13	~~-a~	~~-a~	NOUN
fsr-3796	146	14	)	)	PUNCT
fsr-3796	146	15	of	of	ADP
fsr-3796	146	16	$	$	SYM
fsr-3796	146	17	100,000	100,000	NUM
fsr-3796	146	18	mortgages	mortgage	NOUN
fsr-3796	146	19	at	at	ADP
fsr-3796	146	20	a	a	DET
fsr-3796	146	21	4	4	NUM
fsr-3796	146	22	percent	percent	NOUN
fsr-3796	146	23	discount	discount	NOUN
fsr-3796	146	24	rate	rate	NOUN
fsr-3796	146	25	.	.	PUNCT
fsr-3796	147	1	the	the	DET
fsr-3796	147	2	lines	line	NOUN
fsr-3796	147	3	marked	mark	VERB
fsr-3796	147	4	with	with	ADP
fsr-3796	147	5	triangles	triangle	NOUN
fsr-3796	147	6	represent	represent	VERB
fsr-3796	147	7	the	the	DET
fsr-3796	147	8	expected	expect	VERB
fsr-3796	147	9	present	present	ADJ
fsr-3796	147	10	value	value	NOUN
fsr-3796	147	11	cost	cost	NOUN
fsr-3796	147	12	differential	differential	NOUN
fsr-3796	147	13	plus	plus	CCONJ
fsr-3796	147	14	and	and	CCONJ
fsr-3796	147	15	minus	minus	CCONJ
fsr-3796	147	16	one	one	NUM
fsr-3796	147	17	standard	standard	ADJ
fsr-3796	147	18	deviation	deviation	NOUN
fsr-3796	147	19	.	.	PUNCT
fsr-3796	148	1	ninety	ninety	NUM
fsr-3796	148	2	percent	percent	NOUN
fsr-3796	148	3	of	of	ADP
fsr-3796	148	4	the	the	DET
fsr-3796	148	5	simulation	simulation	NOUN
fsr-3796	148	6	runs	run	NOUN
fsr-3796	148	7	resulted	result	VERB
fsr-3796	148	8	in	in	ADP
fsr-3796	148	9	present	present	ADJ
fsr-3796	148	10	value	value	NOUN
fsr-3796	148	11	cost	cost	NOUN
fsr-3796	148	12	differentials	differential	NOUN
fsr-3796	148	13	between	between	ADP
fsr-3796	148	14	the	the	DET
fsr-3796	148	15	lines	line	NOUN
fsr-3796	148	16	marked	mark	VERB
fsr-3796	148	17	with	with	ADP
fsr-3796	148	18	squares	square	NOUN
fsr-3796	148	19	.	.	PUNCT
fsr-3796	149	1	fixed	fix	VERB
fsr-3796	149	2	and	and	CCONJ
fsr-3796	149	3	adjustable	adjustable	ADJ
fsr-3796	149	4	rate	rate	NOUN
fsr-3796	149	5	mortgages	mortgage	NOUN
fsr-3796	149	6	109	109	NUM
fsr-3796	149	7	ure	ure	NOUN
fsr-3796	149	8	4	4	NUM
fsr-3796	149	9	.	.	PUNCT
fsr-3796	150	1	we	we	PRON
fsr-3796	150	2	capture	capture	VERB
fsr-3796	150	3	only	only	ADV
fsr-3796	150	4	the	the	DET
fsr-3796	150	5	years	year	NOUN
fsr-3796	150	6	of	of	ADP
fsr-3796	150	7	initial	initial	ADJ
fsr-3796	150	8	cost	cost	NOUN
fsr-3796	150	9	advantage	advantage	NOUN
fsr-3796	150	10	.	.	PUNCT
fsr-3796	151	1	depending	depend	VERB
fsr-3796	151	2	upon	upon	SCONJ
fsr-3796	151	3	how	how	SCONJ
fsr-3796	151	4	interest	interest	NOUN
fsr-3796	151	5	rates	rate	NOUN
fsr-3796	151	6	behave	behave	VERB
fsr-3796	151	7	in	in	ADP
fsr-3796	151	8	a	a	DET
fsr-3796	151	9	particular	particular	ADJ
fsr-3796	151	10	iteration	iteration	NOUN
fsr-3796	151	11	,	,	PUNCT
fsr-3796	151	12	the	the	DET
fsr-3796	151	13	cost	cost	NOUN
fsr-3796	151	14	advantage	advantage	NOUN
fsr-3796	151	15	to	to	ADP
fsr-3796	151	16	the	the	DET
fsr-3796	151	17	arm	arm	NOUN
fsr-3796	151	18	may	may	AUX
fsr-3796	151	19	disappear	disappear	VERB
fsr-3796	151	20	quickly	quickly	ADV
fsr-3796	151	21	but	but	CCONJ
fsr-3796	151	22	return	return	VERB
fsr-3796	151	23	later	later	ADV
fsr-3796	151	24	in	in	ADP
fsr-3796	151	25	the	the	DET
fsr-3796	151	26	life	life	NOUN
fsr-3796	151	27	of	of	ADP
fsr-3796	151	28	the	the	DET
fsr-3796	151	29	mortgage	mortgage	NOUN
fsr-3796	151	30	.	.	PUNCT
fsr-3796	152	1	thus	thus	ADV
fsr-3796	152	2	,	,	PUNCT
fsr-3796	152	3	even	even	ADV
fsr-3796	152	4	in	in	ADP
fsr-3796	152	5	some	some	PRON
fsr-3796	152	6	of	of	ADP
fsr-3796	152	7	the	the	DET
fsr-3796	152	8	cases	case	NOUN
fsr-3796	152	9	in	in	ADP
fsr-3796	152	10	which	which	PRON
fsr-3796	152	11	the	the	DET
fsr-3796	152	12	frm	frm	PROPN
fsr-3796	152	13	gains	gain	VERB
fsr-3796	152	14	a	a	DET
fsr-3796	152	15	cost	cost	NOUN
fsr-3796	152	16	advantage	advantage	NOUN
fsr-3796	152	17	early	early	ADV
fsr-3796	152	18	on	on	ADV
fsr-3796	152	19	,	,	PUNCT
fsr-3796	152	20	the	the	DET
fsr-3796	152	21	arm	arm	NOUN
fsr-3796	152	22	could	could	AUX
fsr-3796	152	23	regain	regain	VERB
fsr-3796	152	24	the	the	DET
fsr-3796	152	25	advantage	advantage	NOUN
fsr-3796	152	26	in	in	ADP
fsr-3796	152	27	later	later	ADJ
fsr-3796	152	28	years	year	NOUN
fsr-3796	152	29	.	.	PUNCT
fsr-3796	153	1	here	here	ADV
fsr-3796	153	2	we	we	PRON
fsr-3796	153	3	capture	capture	VERB
fsr-3796	153	4	only	only	ADV
fsr-3796	153	5	the	the	DET
fsr-3796	153	6	number	number	NOUN
fsr-3796	153	7	of	of	ADP
fsr-3796	153	8	years	year	NOUN
fsr-3796	153	9	the	the	DET
fsr-3796	153	10	initial	initial	ADJ
fsr-3796	153	11	advantage	advantage	NOUN
fsr-3796	153	12	of	of	ADP
fsr-3796	153	13	the	the	DET
fsr-3796	153	14	arm	arm	NOUN
fsr-3796	153	15	is	be	AUX
fsr-3796	153	16	maintained	maintain	VERB
fsr-3796	153	17	.	.	PUNCT
fsr-3796	154	1	figure	figure	NOUN
fsr-3796	154	2	5	5	NUM
fsr-3796	154	3	shows	show	VERB
fsr-3796	154	4	the	the	DET
fsr-3796	154	5	distribution	distribution	NOUN
fsr-3796	154	6	of	of	ADP
fsr-3796	154	7	required	require	VERB
fsr-3796	154	8	annual	annual	ADJ
fsr-3796	154	9	payments	payment	NOUN
fsr-3796	154	10	over	over	ADP
fsr-3796	154	11	the	the	DET
fsr-3796	154	12	thirty	thirty	NUM
fsr-3796	154	13	year	year	NOUN
fsr-3796	154	14	term	term	NOUN
fsr-3796	154	15	of	of	ADP
fsr-3796	154	16	the	the	DET
fsr-3796	154	17	mortgage	mortgage	NOUN
fsr-3796	154	18	.	.	PUNCT
fsr-3796	155	1	the	the	DET
fsr-3796	155	2	heavy	heavy	ADJ
fsr-3796	155	3	black	black	ADJ
fsr-3796	155	4	line	line	NOUN
fsr-3796	155	5	shows	show	VERB
fsr-3796	155	6	an	an	DET
fsr-3796	155	7	expected	expect	VERB
fsr-3796	155	8	arm	arm	NOUN
fsr-3796	155	9	payment	payment	NOUN
fsr-3796	155	10	that	that	PRON
fsr-3796	155	11	increases	increase	VERB
fsr-3796	155	12	at	at	ADP
fsr-3796	155	13	a	a	DET
fsr-3796	155	14	decreasing	decrease	VERB
fsr-3796	155	15	rate	rate	NOUN
fsr-3796	155	16	and	and	CCONJ
fsr-3796	155	17	levels	level	NOUN
fsr-3796	155	18	off	off	ADP
fsr-3796	155	19	at	at	ADP
fsr-3796	155	20	about	about	ADP
fsr-3796	155	21	$	$	SYM
fsr-3796	155	22	9,570	9,570	NUM
fsr-3796	155	23	.	.	PUNCT
fsr-3796	156	1	the	the	DET
fsr-3796	156	2	frm	frm	PROPN
fsr-3796	156	3	payment	payment	NOUN
fsr-3796	156	4	is	be	AUX
fsr-3796	156	5	shown	show	VERB
fsr-3796	156	6	as	as	ADP
fsr-3796	156	7	a	a	DET
fsr-3796	156	8	horizon	horizon	NOUN
fsr-3796	156	9	tal	tal	PROPN
fsr-3796	156	10	dashed	dash	VERB
fsr-3796	156	11	line	line	NOUN
fsr-3796	156	12	at	at	ADP
fsr-3796	156	13	$	$	SYM
fsr-3796	156	14	8,778	8,778	NUM
fsr-3796	156	15	.	.	PUNCT
fsr-3796	157	1	this	this	DET
fsr-3796	157	2	figure	figure	NOUN
fsr-3796	157	3	allows	allow	VERB
fsr-3796	157	4	one	one	PRON
fsr-3796	157	5	to	to	PART
fsr-3796	157	6	view	view	VERB
fsr-3796	157	7	the	the	DET
fsr-3796	157	8	expected	expect	VERB
fsr-3796	157	9	time	time	NOUN
fsr-3796	157	10	path	path	NOUN
fsr-3796	157	11	of	of	ADP
fsr-3796	157	12	the	the	DET
fsr-3796	157	13	arm	arm	NOUN
fsr-3796	157	14	payment	payment	NOUN
fsr-3796	157	15	amount	amount	NOUN
fsr-3796	157	16	as	as	ADV
fsr-3796	157	17	well	well	ADV
fsr-3796	157	18	as	as	ADP
fsr-3796	157	19	the	the	DET
fsr-3796	157	20	possible	possible	ADJ
fsr-3796	157	21	extremes	extreme	NOUN
fsr-3796	157	22	and	and	CCONJ
fsr-3796	157	23	their	their	PRON
fsr-3796	157	24	likelihood	likelihood	NOUN
fsr-3796	157	25	.	.	PUNCT
fsr-3796	158	1	it	it	PRON
fsr-3796	158	2	also	also	ADV
fsr-3796	158	3	allows	allow	VERB
fsr-3796	158	4	one	one	NUM
fsr-3796	158	5	to	to	PART
fsr-3796	158	6	compare	compare	VERB
fsr-3796	158	7	these	these	DET
fsr-3796	158	8	aspects	aspect	NOUN
fsr-3796	158	9	to	to	ADP
fsr-3796	158	10	the	the	DET
fsr-3796	158	11	frm	frm	PROPN
fsr-3796	158	12	payment	payment	NOUN
fsr-3796	158	13	.	.	PUNCT
fsr-3796	159	1	these	these	DET
fsr-3796	159	2	results	result	NOUN
fsr-3796	159	3	show	show	VERB
fsr-3796	159	4	that	that	SCONJ
fsr-3796	159	5	the	the	DET
fsr-3796	159	6	payment	payment	NOUN
fsr-3796	159	7	advan	advan	NOUN
fsr-3796	159	8	tage	tage	NOUN
fsr-3796	159	9	of	of	ADP
fsr-3796	159	10	the	the	DET
fsr-3796	159	11	arm	arm	NOUN
fsr-3796	159	12	is	be	AUX
fsr-3796	159	13	likely	likely	ADJ
fsr-3796	159	14	to	to	PART
fsr-3796	159	15	last	last	VERB
fsr-3796	159	16	about	about	ADV
fsr-3796	159	17	5	5	NUM
fsr-3796	159	18	years	year	NOUN
fsr-3796	159	19	.	.	PUNCT
fsr-3796	160	1	this	this	DET
fsr-3796	160	2	payment	payment	NOUN
fsr-3796	160	3	advantage	advantage	NOUN
fsr-3796	160	4	period	period	NOUN
fsr-3796	160	5	is	be	AUX
fsr-3796	160	6	much	much	ADV
fsr-3796	160	7	shorter	short	ADJ
fsr-3796	160	8	than	than	ADP
fsr-3796	160	9	the	the	DET
fsr-3796	160	10	cost	cost	NOUN
fsr-3796	160	11	advantage	advantage	NOUN
fsr-3796	160	12	period	period	NOUN
fsr-3796	160	13	because	because	SCONJ
fsr-3796	160	14	of	of	ADP
fsr-3796	160	15	present	present	ADJ
fsr-3796	160	16	value	value	NOUN
fsr-3796	160	17	principles	principle	NOUN
fsr-3796	160	18	.	.	PUNCT
fsr-3796	161	1	from	from	ADP
fsr-3796	161	2	the	the	DET
fsr-3796	161	3	stand	stand	NOUN
fsr-3796	161	4	point	point	NOUN
fsr-3796	161	5	of	of	ADP
fsr-3796	161	6	maximizing	maximize	VERB
fsr-3796	161	7	wealth	wealth	NOUN
fsr-3796	161	8	,	,	PUNCT
fsr-3796	161	9	borrowers	borrower	NOUN
fsr-3796	161	10	should	should	AUX
fsr-3796	161	11	choose	choose	VERB
fsr-3796	161	12	the	the	DET
fsr-3796	161	13	mortgage	mortgage	NOUN
fsr-3796	161	14	that	that	PRON
fsr-3796	161	15	will	will	AUX
fsr-3796	161	16	have	have	VERB
fsr-3796	161	17	the	the	DET
fsr-3796	161	18	lower	low	ADJ
fsr-3796	161	19	expected	expect	VERB
fsr-3796	161	20	cost	cost	NOUN
fsr-3796	161	21	.	.	PUNCT
fsr-3796	162	1	however	however	ADV
fsr-3796	162	2	,	,	PUNCT
fsr-3796	162	3	some	some	DET
fsr-3796	162	4	borrowers	borrower	NOUN
fsr-3796	162	5	may	may	AUX
fsr-3796	162	6	be	be	AUX
fsr-3796	162	7	risking	risk	VERB
fsr-3796	162	8	insolvency	insolvency	NOUN
fsr-3796	162	9	with	with	ADP
fsr-3796	162	10	higher	high	ADJ
fsr-3796	162	11	mortgage	mortgage	NOUN
fsr-3796	162	12	payments	payment	NOUN
fsr-3796	162	13	.	.	PUNCT
fsr-3796	163	1	these	these	DET
fsr-3796	163	2	borrowers	borrower	NOUN
fsr-3796	163	3	would	would	AUX
fsr-3796	163	4	probably	probably	ADV
fsr-3796	163	5	focus	focus	VERB
fsr-3796	163	6	on	on	ADP
fsr-3796	163	7	the	the	DET
fsr-3796	163	8	payment	payment	NOUN
fsr-3796	163	9	aspect	aspect	NOUN
fsr-3796	163	10	rather	rather	ADV
fsr-3796	163	11	than	than	ADP
fsr-3796	163	12	the	the	DET
fsr-3796	163	13	present	present	ADJ
fsr-3796	163	14	value	value	NOUN
fsr-3796	163	15	cost	cost	NOUN
fsr-3796	163	16	difference	difference	NOUN
fsr-3796	163	17	.	.	PUNCT
fsr-3796	164	1	year	year	NOUN
fsr-3796	164	2	figure	figure	NOUN
fsr-3796	164	3	4	4	NUM
fsr-3796	164	4	.	.	PUNCT
fsr-3796	164	5	low	low	ADJ
fsr-3796	164	6	interest	interest	NOUN
fsr-3796	164	7	rate	rate	NOUN
fsr-3796	164	8	environment	environment	NOUN
fsr-3796	164	9	-	-	PUNCT
fsr-3796	164	10	number	number	NOUN
fsr-3796	164	11	of	of	ADP
fsr-3796	164	12	years	year	NOUN
fsr-3796	164	13	for	for	ADP
fsr-3796	164	14	which	which	PRON
fsr-3796	164	15	the	the	DET
fsr-3796	164	16	arm	arm	NOUN
fsr-3796	164	17	maintains	maintain	VERB
fsr-3796	164	18	its	its	PRON
fsr-3796	164	19	present	present	ADJ
fsr-3796	164	20	value	value	NOUN
fsr-3796	164	21	cost	cost	NOUN
fsr-3796	164	22	advantage	advantage	NOUN
fsr-3796	164	23	from	from	ADP
fsr-3796	164	24	the	the	DET
fsr-3796	164	25	initiation	initiation	NOUN
fsr-3796	164	26	of	of	ADP
fsr-3796	164	27	the	the	DET
fsr-3796	164	28	loan	loan	NOUN
fsr-3796	164	29	.	.	PUNCT
fsr-3796	165	1	for	for	ADP
fsr-3796	165	2	each	each	DET
fsr-3796	165	3	year	year	NOUN
fsr-3796	165	4	,	,	PUNCT
fsr-3796	165	5	the	the	DET
fsr-3796	165	6	bar	bar	NOUN
fsr-3796	165	7	height	height	NOUN
fsr-3796	165	8	shows	show	VERB
fsr-3796	165	9	the	the	DET
fsr-3796	165	10	fraction	fraction	NOUN
fsr-3796	165	11	of	of	ADP
fsr-3796	165	12	cases	case	NOUN
fsr-3796	165	13	for	for	ADP
fsr-3796	165	14	which	which	PRON
fsr-3796	165	15	the	the	DET
fsr-3796	165	16	arm	arm	NOUN
fsr-3796	165	17	’s	’s	PART
fsr-3796	165	18	initial	initial	ADJ
fsr-3796	165	19	present	present	ADJ
fsr-3796	165	20	value	value	NOUN
fsr-3796	165	21	cost	cost	NOUN
fsr-3796	165	22	advantage	advantage	NOUN
fsr-3796	165	23	continues	continue	VERB
fsr-3796	165	24	for	for	ADP
fsr-3796	165	25	exactly	exactly	ADV
fsr-3796	165	26	that	that	DET
fsr-3796	165	27	many	many	ADJ
fsr-3796	165	28	years	year	NOUN
fsr-3796	165	29	.	.	PUNCT
fsr-3796	166	1	thus	thus	ADV
fsr-3796	166	2	,	,	PUNCT
fsr-3796	166	3	the	the	DET
fsr-3796	166	4	bar	bar	NOUN
fsr-3796	166	5	height	height	NOUN
fsr-3796	166	6	at	at	ADP
fsr-3796	166	7	year	year	NOUN
fsr-3796	166	8	30	30	NUM
fsr-3796	166	9	indicates	indicate	VERB
fsr-3796	166	10	the	the	DET
fsr-3796	166	11	fraction	fraction	NOUN
fsr-3796	166	12	of	of	ADP
fsr-3796	166	13	cases	case	NOUN
fsr-3796	166	14	in	in	ADP
fsr-3796	166	15	which	which	PRON
fsr-3796	166	16	the	the	DET
fsr-3796	166	17	cost	cost	NOUN
fsr-3796	166	18	of	of	ADP
fsr-3796	166	19	the	the	DET
fsr-3796	166	20	arm	arm	NOUN
fsr-3796	166	21	dominates	dominate	VERB
fsr-3796	166	22	the	the	DET
fsr-3796	166	23	cost	cost	NOUN
fsr-3796	166	24	of	of	ADP
fsr-3796	166	25	the	the	DET
fsr-3796	166	26	frm	frm	PROPN
fsr-3796	166	27	for	for	ADP
fsr-3796	166	28	the	the	DET
fsr-3796	166	29	entire	entire	ADJ
fsr-3796	166	30	life	life	NOUN
fsr-3796	166	31	of	of	ADP
fsr-3796	166	32	the	the	DET
fsr-3796	166	33	mortgage	mortgage	NOUN
fsr-3796	166	34	.	.	PUNCT
fsr-3796	167	1	the	the	DET
fsr-3796	167	2	assumed	assumed	ADJ
fsr-3796	167	3	discount	discount	NOUN
fsr-3796	167	4	rate	rate	NOUN
fsr-3796	167	5	is	be	AUX
fsr-3796	167	6	4	4	NUM
fsr-3796	167	7	percent	percent	NOUN
fsr-3796	167	8	.	.	PUNCT
fsr-3796	168	1	110	110	NUM
fsr-3796	168	2	financial	financial	ADJ
fsr-3796	168	3	services	service	NOUN
fsr-3796	168	4	review	review	VERB
fsr-3796	168	5	5(2	5(2	NUM
fsr-3796	168	6	)	)	PUNCT
fsr-3796	168	7	1996	1996	NUM
fsr-3796	168	8	8,000	8,000	NUM
fsr-3796	168	9	f	f	NOUN
fsr-3796	168	10	=	=	SYM
fsr-3796	168	11	0	0	PROPN
fsr-3796	168	12	”	"	PUNCT
fsr-3796	168	13	6,000	6,000	NUM
fsr-3796	168	14	figure	figure	NOUN
fsr-3796	168	15	5	5	NUM
fsr-3796	168	16	.	.	PUNCT
fsr-3796	168	17	low	low	ADJ
fsr-3796	168	18	interest	interest	NOUN
fsr-3796	168	19	rate	rate	NOUN
fsr-3796	168	20	environment	environment	NOUN
fsr-3796	168	21	-	-	PUNCT
fsr-3796	168	22	expected	expect	VERB
fsr-3796	168	23	annual	annual	ADJ
fsr-3796	168	24	mortgage	mortgage	NOUN
fsr-3796	168	25	payment	payment	NOUN
fsr-3796	168	26	.	.	PUNCT
fsr-3796	169	1	the	the	DET
fsr-3796	169	2	heavy	heavy	ADJ
fsr-3796	169	3	black	black	ADJ
fsr-3796	169	4	line	line	NOUN
fsr-3796	169	5	represents	represent	VERB
fsr-3796	169	6	the	the	DET
fsr-3796	169	7	expected	expect	VERB
fsr-3796	169	8	payment	payment	NOUN
fsr-3796	169	9	for	for	ADP
fsr-3796	169	10	the	the	DET
fsr-3796	169	11	arm	arm	NOUN
fsr-3796	169	12	.	.	PUNCT
fsr-3796	170	1	the	the	DET
fsr-3796	170	2	lines	line	NOUN
fsr-3796	170	3	marked	mark	VERB
fsr-3796	170	4	with	with	ADP
fsr-3796	170	5	triangles	triangle	NOUN
fsr-3796	170	6	represent	represent	VERB
fsr-3796	170	7	the	the	DET
fsr-3796	170	8	expected	expect	VERB
fsr-3796	170	9	payment	payment	NOUN
fsr-3796	170	10	plus	plus	CCONJ
fsr-3796	170	11	and	and	CCONJ
fsr-3796	170	12	minus	minus	CCONJ
fsr-3796	170	13	one	one	NUM
fsr-3796	170	14	standard	standard	ADJ
fsr-3796	170	15	deviation	deviation	NOUN
fsr-3796	170	16	.	.	PUNCT
fsr-3796	171	1	ninety	ninety	NUM
fsr-3796	171	2	percent	percent	NOUN
fsr-3796	171	3	of	of	ADP
fsr-3796	171	4	the	the	DET
fsr-3796	171	5	simulation	simulation	NOUN
fsr-3796	171	6	runs	run	NOUN
fsr-3796	171	7	resulted	result	VERB
fsr-3796	171	8	in	in	ADP
fsr-3796	171	9	annual	annual	ADJ
fsr-3796	171	10	payments	payment	NOUN
fsr-3796	171	11	between	between	ADP
fsr-3796	171	12	the	the	DET
fsr-3796	171	13	lines	line	NOUN
fsr-3796	171	14	marked	mark	VERB
fsr-3796	171	15	by	by	ADP
fsr-3796	171	16	squares	square	NOUN
fsr-3796	171	17	.	.	PUNCT
fsr-3796	172	1	the	the	DET
fsr-3796	172	2	horizontal	horizontal	ADJ
fsr-3796	172	3	,	,	PUNCT
fsr-3796	172	4	heavy	heavy	ADJ
fsr-3796	172	5	,	,	PUNCT
fsr-3796	172	6	dashed	dash	VERB
fsr-3796	172	7	line	line	NOUN
fsr-3796	172	8	represents	represent	VERB
fsr-3796	172	9	the	the	DET
fsr-3796	172	10	frm	frm	PROPN
fsr-3796	172	11	payment	payment	NOUN
fsr-3796	172	12	.	.	PUNCT
fsr-3796	173	1	iv	iv	X
fsr-3796	173	2	.	.	PUNCT
fsr-3796	173	3	high	high	ADJ
fsr-3796	173	4	interest	interest	NOUN
fsr-3796	173	5	rate	rate	NOUN
fsr-3796	173	6	environment	environment	PROPN
fsr-3796	173	7	simulation	simulation	PROPN
fsr-3796	173	8	month	month	NOUN
fsr-3796	173	9	end	end	NOUN
fsr-3796	173	10	march	march	PROPN
fsr-3796	173	11	1989	1989	NUM
fsr-3796	173	12	represented	represent	VERB
fsr-3796	173	13	a	a	DET
fsr-3796	173	14	time	time	NOUN
fsr-3796	173	15	of	of	ADP
fsr-3796	173	16	relatively	relatively	ADV
fsr-3796	173	17	high	high	ADJ
fsr-3796	173	18	interest	interest	NOUN
fsr-3796	173	19	rates	rate	NOUN
fsr-3796	173	20	.	.	PUNCT
fsr-3796	174	1	the	the	DET
fsr-3796	174	2	parameters	parameter	NOUN
fsr-3796	174	3	for	for	ADP
fsr-3796	174	4	this	this	DET
fsr-3796	174	5	simulation	simulation	NOUN
fsr-3796	174	6	appear	appear	VERB
fsr-3796	174	7	in	in	ADP
fsr-3796	174	8	table	table	NOUN
fsr-3796	174	9	3	3	NUM
fsr-3796	174	10	.	.	PUNCT
fsr-3796	174	11	figure	figure	NOUN
fsr-3796	174	12	6	6	NUM
fsr-3796	174	13	shows	show	VERB
fsr-3796	174	14	the	the	DET
fsr-3796	174	15	present	present	ADJ
fsr-3796	174	16	value	value	NOUN
fsr-3796	174	17	cost	cost	NOUN
fsr-3796	174	18	differential	differential	NOUN
fsr-3796	174	19	results	result	NOUN
fsr-3796	174	20	of	of	ADP
fsr-3796	174	21	this	this	DET
fsr-3796	174	22	simulation	simulation	NOUN
fsr-3796	174	23	.	.	PUNCT
fsr-3796	175	1	it	it	PRON
fsr-3796	175	2	tells	tell	VERB
fsr-3796	175	3	a	a	DET
fsr-3796	175	4	much	much	ADV
fsr-3796	175	5	different	different	ADJ
fsr-3796	175	6	story	story	NOUN
fsr-3796	175	7	than	than	ADP
fsr-3796	175	8	the	the	DET
fsr-3796	175	9	low	low	ADJ
fsr-3796	175	10	interest	interest	NOUN
fsr-3796	175	11	rate	rate	NOUN
fsr-3796	175	12	simula	simula	PROPN
fsr-3796	175	13	tion	tion	NOUN
fsr-3796	175	14	.	.	PUNCT
fsr-3796	176	1	the	the	DET
fsr-3796	176	2	arm	arm	NOUN
fsr-3796	176	3	offers	offer	VERB
fsr-3796	176	4	an	an	DET
fsr-3796	176	5	expected	expect	VERB
fsr-3796	176	6	present	present	ADJ
fsr-3796	176	7	value	value	NOUN
fsr-3796	176	8	cost	cost	NOUN
fsr-3796	176	9	advantage	advantage	NOUN
fsr-3796	176	10	throughout	throughout	ADP
fsr-3796	176	11	the	the	DET
fsr-3796	176	12	thirty	thirty	NUM
fsr-3796	176	13	year	year	NOUN
fsr-3796	176	14	term	term	NOUN
fsr-3796	176	15	.	.	PUNCT
fsr-3796	177	1	however	however	ADV
fsr-3796	177	2	,	,	PUNCT
fsr-3796	177	3	this	this	DET
fsr-3796	177	4	simulation	simulation	NOUN
fsr-3796	177	5	is	be	AUX
fsr-3796	177	6	artificial	artificial	ADJ
fsr-3796	177	7	in	in	SCONJ
fsr-3796	177	8	that	that	SCONJ
fsr-3796	177	9	it	it	PRON
fsr-3796	177	10	assumes	assume	VERB
fsr-3796	177	11	no	no	DET
fsr-3796	177	12	refinancing	refinance	VERB
fsr-3796	177	13	opportunities	opportunity	NOUN
fsr-3796	177	14	for	for	ADP
fsr-3796	177	15	the	the	DET
fsr-3796	177	16	high	high	ADJ
fsr-3796	177	17	rate	rate	NOUN
fsr-3796	177	18	frm	frm	PROPN
fsr-3796	177	19	.	.	PUNCT
fsr-3796	178	1	a	a	DET
fsr-3796	178	2	borrower	borrower	NOUN
fsr-3796	178	3	in	in	ADP
fsr-3796	178	4	these	these	DET
fsr-3796	178	5	circumstances	circumstance	NOUN
fsr-3796	178	6	can	can	AUX
fsr-3796	178	7	benefit	benefit	VERB
fsr-3796	178	8	from	from	ADP
fsr-3796	178	9	falling	fall	VERB
fsr-3796	178	10	rates	rate	NOUN
fsr-3796	178	11	in	in	ADP
fsr-3796	178	12	two	two	NUM
fsr-3796	178	13	ways	way	NOUN
fsr-3796	178	14	:	:	PUNCT
fsr-3796	178	15	select	select	VERB
fsr-3796	178	16	the	the	DET
fsr-3796	178	17	arm	arm	NOUN
fsr-3796	178	18	,	,	PUNCT
fsr-3796	178	19	or	or	CCONJ
fsr-3796	178	20	select	select	VERB
fsr-3796	178	21	the	the	DET
fsr-3796	178	22	frm	frm	PROPN
fsr-3796	178	23	and	and	CCONJ
fsr-3796	178	24	refinance	refinance	NOUN
fsr-3796	178	25	if	if	SCONJ
fsr-3796	178	26	rates	rate	NOUN
fsr-3796	178	27	fall	fall	VERB
fsr-3796	178	28	significantly	significantly	ADV
fsr-3796	178	29	.	.	PUNCT
fsr-3796	179	1	we	we	PRON
fsr-3796	179	2	incorporate	incorporate	VERB
fsr-3796	179	3	this	this	DET
fsr-3796	179	4	second	second	ADJ
fsr-3796	179	5	possibility	possibility	NOUN
fsr-3796	179	6	by	by	ADP
fsr-3796	179	7	simulating	simulate	VERB
fsr-3796	179	8	a	a	DET
fsr-3796	179	9	ten	ten	NUM
fsr-3796	179	10	year	year	NOUN
fsr-3796	179	11	treasury	treasury	NOUN
fsr-3796	179	12	index	index	NOUN
fsr-3796	179	13	rate	rate	NOUN
fsr-3796	179	14	in	in	ADP
fsr-3796	179	15	the	the	DET
fsr-3796	179	16	same	same	ADJ
fsr-3796	179	17	manner	manner	NOUN
fsr-3796	179	18	as	as	ADP
fsr-3796	179	19	the	the	DET
fsr-3796	179	20	one	one	NUM
fsr-3796	179	21	year	year	NOUN
fsr-3796	179	22	treasury	treasury	NOUN
fsr-3796	179	23	index	index	NOUN
fsr-3796	179	24	rate	rate	NOUN
fsr-3796	179	25	and	and	CCONJ
fsr-3796	179	26	assuming	assume	VERB
fsr-3796	179	27	a	a	DET
fsr-3796	179	28	constant	constant	ADJ
fsr-3796	179	29	margin	margin	NOUN
fsr-3796	179	30	between	between	ADP
fsr-3796	179	31	the	the	DET
fsr-3796	179	32	ten	ten	NUM
fsr-3796	179	33	year	year	NOUN
fsr-3796	179	34	rate	rate	NOUN
fsr-3796	179	35	and	and	CCONJ
fsr-3796	179	36	frm	frm	PROPN
fsr-3796	179	37	rates	rate	NOUN
fsr-3796	179	38	.	.	PUNCT
fsr-3796	180	1	the	the	DET
fsr-3796	180	2	simulation	simulation	NOUN
fsr-3796	180	3	of	of	ADP
fsr-3796	180	4	each	each	DET
fsr-3796	180	5	index	index	NOUN
fsr-3796	180	6	is	be	AUX
fsr-3796	180	7	driven	drive	VERB
fsr-3796	180	8	by	by	ADP
fsr-3796	180	9	the	the	DET
fsr-3796	180	10	same	same	ADJ
fsr-3796	180	11	random	random	ADJ
fsr-3796	180	12	fixed	fix	VERB
fsr-3796	180	13	and	and	CCONJ
fsr-3796	180	14	at&&able	at&&able	ADJ
fsr-3796	180	15	rate	rate	NOUN
fsr-3796	180	16	mortgages	mortgage	NOUN
fsr-3796	180	17	111	111	NUM
fsr-3796	180	18	draw	draw	NOUN
fsr-3796	180	19	from	from	ADP
fsr-3796	180	20	a	a	DET
fsr-3796	180	21	normal	normal	ADJ
fsr-3796	180	22	distribution	distribution	NOUN
fsr-3796	180	23	,	,	PUNCT
fsr-3796	180	24	thus	thus	ADV
fsr-3796	180	25	maintaining	maintain	VERB
fsr-3796	180	26	a	a	DET
fsr-3796	180	27	connection	connection	NOUN
fsr-3796	180	28	between	between	ADP
fsr-3796	180	29	the	the	DET
fsr-3796	180	30	short	short	ADJ
fsr-3796	180	31	term	term	NOUN
fsr-3796	180	32	and	and	CCONJ
fsr-3796	180	33	long	long	ADJ
fsr-3796	180	34	term	term	NOUN
fsr-3796	180	35	rates	rate	NOUN
fsr-3796	180	36	.	.	PUNCT
fsr-3796	181	1	both	both	DET
fsr-3796	181	2	indexes	index	NOUN
fsr-3796	181	3	will	will	AUX
fsr-3796	181	4	move	move	VERB
fsr-3796	181	5	in	in	ADP
fsr-3796	181	6	the	the	DET
fsr-3796	181	7	same	same	ADJ
fsr-3796	181	8	direction	direction	NOUN
fsr-3796	181	9	,	,	PUNCT
fsr-3796	181	10	but	but	CCONJ
fsr-3796	181	11	by	by	ADP
fsr-3796	181	12	amounts	amount	NOUN
fsr-3796	181	13	proportional	proportional	ADJ
fsr-3796	181	14	to	to	ADP
fsr-3796	181	15	their	their	PRON
fsr-3796	181	16	historical	historical	ADJ
fsr-3796	181	17	standard	standard	ADJ
fsr-3796	181	18	deviations	deviation	NOUN
fsr-3796	181	19	of	of	ADP
fsr-3796	181	20	annual	annual	ADJ
fsr-3796	181	21	changes	change	NOUN
fsr-3796	181	22	.	.	PUNCT
fsr-3796	182	1	in	in	ADP
fsr-3796	182	2	addition	addition	NOUN
fsr-3796	182	3	,	,	PUNCT
fsr-3796	182	4	we	we	PRON
fsr-3796	182	5	enforce	enforce	VERB
fsr-3796	182	6	different	different	ADJ
fsr-3796	182	7	floors	floor	NOUN
fsr-3796	182	8	and	and	CCONJ
fsr-3796	182	9	ceilings	ceiling	NOUN
fsr-3796	182	10	on	on	ADP
fsr-3796	182	11	the	the	DET
fsr-3796	182	12	simulated	simulate	VERB
fsr-3796	182	13	index	index	NOUN
fsr-3796	182	14	rates	rate	NOUN
fsr-3796	182	15	.	.	PUNCT
fsr-3796	183	1	table	table	NOUN
fsr-3796	183	2	3	3	NUM
fsr-3796	183	3	also	also	ADV
fsr-3796	183	4	includes	include	VERB
fsr-3796	183	5	parameters	parameter	NOUN
fsr-3796	183	6	necessary	necessary	ADJ
fsr-3796	183	7	to	to	PART
fsr-3796	183	8	allow	allow	VERB
fsr-3796	183	9	the	the	DET
fsr-3796	183	10	refinancing	refinance	VERB
fsr-3796	183	11	option	option	NOUN
fsr-3796	183	12	.	.	PUNCT
fsr-3796	184	1	if	if	SCONJ
fsr-3796	184	2	the	the	DET
fsr-3796	184	3	simulated	simulate	VERB
fsr-3796	184	4	frm	frm	PROPN
fsr-3796	184	5	rate	rate	NOUN
fsr-3796	184	6	drops	drop	VERB
fsr-3796	184	7	2.5	2.5	NUM
fsr-3796	184	8	percentage	percentage	NOUN
fsr-3796	184	9	points	point	NOUN
fsr-3796	184	10	below	below	ADP
fsr-3796	184	11	the	the	DET
fsr-3796	184	12	initial	initial	ADJ
fsr-3796	184	13	frm	frm	PROPN
fsr-3796	184	14	and	and	CCONJ
fsr-3796	184	15	there	there	PRON
fsr-3796	184	16	are	be	VERB
fsr-3796	184	17	at	at	ADV
fsr-3796	184	18	least	least	ADV
fsr-3796	184	19	15	15	NUM
fsr-3796	184	20	years	year	NOUN
fsr-3796	184	21	left	leave	VERB
fsr-3796	184	22	in	in	ADP
fsr-3796	184	23	the	the	DET
fsr-3796	184	24	term	term	NOUN
fsr-3796	184	25	of	of	ADP
fsr-3796	184	26	the	the	DET
fsr-3796	184	27	mortgage	mortgage	NOUN
fsr-3796	184	28	,	,	PUNCT
fsr-3796	184	29	we	we	PRON
fsr-3796	184	30	assume	assume	VERB
fsr-3796	184	31	refinancing	refinance	VERB
fsr-3796	184	32	.	.	PUNCT
fsr-3796	185	1	for	for	ADP
fsr-3796	185	2	example	example	NOUN
fsr-3796	185	3	,	,	PUNCT
fsr-3796	185	4	if	if	SCONJ
fsr-3796	185	5	in	in	ADP
fsr-3796	185	6	a	a	DET
fsr-3796	185	7	particular	particular	ADJ
fsr-3796	185	8	iteration	iteration	NOUN
fsr-3796	185	9	the	the	DET
fsr-3796	185	10	simulated	simulate	VERB
fsr-3796	185	11	frm	frm	PROPN
fsr-3796	185	12	rate	rate	NOUN
fsr-3796	185	13	drops	drop	NOUN
fsr-3796	185	14	to	to	ADP
fsr-3796	185	15	8.5	8.5	NUM
fsr-3796	185	16	%	%	NOUN
fsr-3796	185	17	with	with	ADP
fsr-3796	185	18	20	20	NUM
fsr-3796	185	19	years	year	NOUN
fsr-3796	185	20	left	leave	VERB
fsr-3796	185	21	on	on	ADP
fsr-3796	185	22	the	the	DET
fsr-3796	185	23	mortgage	mortgage	NOUN
fsr-3796	185	24	,	,	PUNCT
fsr-3796	185	25	we	we	PRON
fsr-3796	185	26	add	add	VERB
fsr-3796	185	27	the	the	DET
fsr-3796	185	28	discount	discount	NOUN
fsr-3796	185	29	points	point	NOUN
fsr-3796	185	30	cost	cost	NOUN
fsr-3796	185	31	and	and	CCONJ
fsr-3796	185	32	an	an	DET
fsr-3796	185	33	addi	addi	ADJ
fsr-3796	185	34	tional	tional	NOUN
fsr-3796	185	35	$	$	SYM
fsr-3796	185	36	1,000	1,000	NUM
fsr-3796	185	37	in	in	ADP
fsr-3796	185	38	refinancing	refinance	VERB
fsr-3796	185	39	costs	cost	NOUN
fsr-3796	185	40	to	to	ADP
fsr-3796	185	41	the	the	DET
fsr-3796	185	42	balance	balance	NOUN
fsr-3796	185	43	of	of	ADP
fsr-3796	185	44	the	the	DET
fsr-3796	185	45	mortgage	mortgage	NOUN
fsr-3796	185	46	and	and	CCONJ
fsr-3796	185	47	recalculate	recalculate	VERB
fsr-3796	185	48	the	the	DET
fsr-3796	185	49	pay	pay	NOUN
fsr-3796	185	50	ment	ment	NOUN
fsr-3796	185	51	to	to	PART
fsr-3796	185	52	amortize	amortize	VERB
fsr-3796	185	53	the	the	DET
fsr-3796	185	54	new	new	ADJ
fsr-3796	185	55	balance	balance	NOUN
fsr-3796	185	56	over	over	ADP
fsr-3796	185	57	the	the	DET
fsr-3796	185	58	remaining	remain	VERB
fsr-3796	185	59	20	20	NUM
fsr-3796	185	60	years	year	NOUN
fsr-3796	185	61	.	.	PUNCT
fsr-3796	186	1	this	this	DET
fsr-3796	186	2	refinancing	refinance	VERB
fsr-3796	186	3	rule	rule	NOUN
fsr-3796	186	4	approximates	approximate	VERB
fsr-3796	186	5	rules	rule	NOUN
fsr-3796	186	6	of	of	ADP
fsr-3796	186	7	thumb	thumb	NOUN
fsr-3796	186	8	used	use	VERB
fsr-3796	186	9	by	by	ADP
fsr-3796	186	10	borrowers	borrower	NOUN
fsr-3796	186	11	.	.	PUNCT
fsr-3796	187	1	including	include	VERB
fsr-3796	187	2	this	this	DET
fsr-3796	187	3	option	option	NOUN
fsr-3796	187	4	in	in	ADP
fsr-3796	187	5	the	the	DET
fsr-3796	187	6	high	high	ADJ
fsr-3796	187	7	interest	interest	NOUN
fsr-3796	187	8	rate	rate	NOUN
fsr-3796	187	9	environment	environment	PROPN
fsr-3796	187	10	simulation	simulation	NOUN
fsr-3796	187	11	causes	cause	VERB
fsr-3796	187	12	this	this	DET
fsr-3796	187	13	frm	frm	PROPN
fsr-3796	187	14	to	to	PART
fsr-3796	187	15	dominate	dominate	VERB
fsr-3796	187	16	this	this	DET
fsr-3796	187	17	arm	arm	NOUN
fsr-3796	187	18	in	in	ADP
fsr-3796	187	19	terms	term	NOUN
fsr-3796	187	20	of	of	ADP
fsr-3796	187	21	expected	expect	VERB
fsr-3796	187	22	present	present	ADJ
fsr-3796	187	23	value	value	NOUN
fsr-3796	187	24	cost	cost	NOUN
fsr-3796	187	25	.	.	PUNCT
fsr-3796	188	1	figures	figure	NOUN
fsr-3796	188	2	7,8	7,8	NUM
fsr-3796	188	3	,	,	PUNCT
fsr-3796	188	4	and	and	CCONJ
fsr-3796	188	5	9	9	NUM
fsr-3796	188	6	show	show	VERB
fsr-3796	188	7	the	the	DET
fsr-3796	188	8	results	result	NOUN
fsr-3796	188	9	of	of	ADP
fsr-3796	188	10	this	this	DET
fsr-3796	188	11	simulation	simulation	NOUN
fsr-3796	188	12	.	.	PUNCT
fsr-3796	189	1	now	now	ADV
fsr-3796	189	2	the	the	DET
fsr-3796	189	3	expected	expect	VERB
fsr-3796	189	4	present	present	ADJ
fsr-3796	189	5	value	value	NOUN
fsr-3796	189	6	cost	cost	NOUN
fsr-3796	189	7	advantage	advantage	NOUN
fsr-3796	189	8	to	to	ADP
fsr-3796	189	9	the	the	DET
fsr-3796	189	10	frm	frm	PROPN
fsr-3796	189	11	occurs	occur	VERB
fsr-3796	189	12	by	by	ADP
fsr-3796	189	13	the	the	DET
fsr-3796	189	14	end	end	NOUN
fsr-3796	189	15	of	of	ADP
fsr-3796	189	16	the	the	DET
fsr-3796	189	17	third	third	ADJ
fsr-3796	189	18	year	year	NOUN
fsr-3796	189	19	and	and	CCONJ
fsr-3796	189	20	increases	increase	VERB
fsr-3796	189	21	throughout	throughout	ADP
fsr-3796	189	22	the	the	DET
fsr-3796	189	23	life	life	NOUN
fsr-3796	189	24	of	of	ADP
fsr-3796	189	25	the	the	DET
fsr-3796	189	26	mortgage	mortgage	NOUN
fsr-3796	189	27	.	.	PUNCT
fsr-3796	190	1	the	the	DET
fsr-3796	190	2	teaser	teaser	NOUN
fsr-3796	190	3	discount	discount	NOUN
fsr-3796	190	4	was	be	AUX
fsr-3796	190	5	just	just	ADV
fsr-3796	190	6	over	over	ADP
fsr-3796	190	7	2	2	NUM
fsr-3796	190	8	percentage	percentage	NOUN
fsr-3796	190	9	points	point	NOUN
fsr-3796	190	10	in	in	ADP
fsr-3796	190	11	this	this	DET
fsr-3796	190	12	case	case	NOUN
fsr-3796	190	13	.	.	PUNCT
fsr-3796	191	1	the	the	DET
fsr-3796	191	2	loss	loss	NOUN
fsr-3796	191	3	of	of	ADP
fsr-3796	191	4	the	the	DET
fsr-3796	191	5	teaser	teaser	NOUN
fsr-3796	191	6	dis	dis	PROPN
fsr-3796	191	7	count	count	VERB
fsr-3796	191	8	after	after	SCONJ
fsr-3796	191	9	the	the	DET
fsr-3796	191	10	first	first	ADJ
fsr-3796	191	11	year	year	NOUN
fsr-3796	191	12	explains	explain	VERB
fsr-3796	191	13	the	the	DET
fsr-3796	191	14	short	short	ADJ
fsr-3796	191	15	duration	duration	NOUN
fsr-3796	191	16	of	of	ADP
fsr-3796	191	17	the	the	DET
fsr-3796	191	18	arm	arm	NOUN
fsr-3796	191	19	cost	cost	NOUN
fsr-3796	191	20	advantage	advantage	NOUN
fsr-3796	191	21	.	.	PUNCT
fsr-3796	192	1	falling	fall	VERB
fsr-3796	192	2	rates	rate	NOUN
fsr-3796	192	3	would	would	AUX
fsr-3796	192	4	be	be	AUX
fsr-3796	192	5	adv	adv	PROPN
fsr-3796	192	6	~	~	NOUN
fsr-3796	192	7	tageous	tageous	ADJ
fsr-3796	192	8	for	for	ADP
fsr-3796	192	9	the	the	DET
fsr-3796	192	10	arm	arm	NOUN
fsr-3796	192	11	borrower	borrower	NOUN
fsr-3796	192	12	,	,	PUNCT
fsr-3796	192	13	but	but	CCONJ
fsr-3796	192	14	because	because	SCONJ
fsr-3796	192	15	of	of	ADP
fsr-3796	192	16	the	the	DET
fsr-3796	192	17	re	re	NOUN
fsr-3796	192	18	~	~	PROPN
fsr-3796	192	19	n	n	CCONJ
fsr-3796	192	20	~	~	NOUN
fsr-3796	192	21	cing	cing	NOUN
fsr-3796	192	22	option	option	NOUN
fsr-3796	192	23	frm	frm	PROPN
fsr-3796	192	24	borrowers	borrower	NOUN
fsr-3796	192	25	can	can	AUX
fsr-3796	192	26	also	also	ADV
fsr-3796	192	27	benefit	benefit	VERB
fsr-3796	192	28	.	.	PUNCT
fsr-3796	193	1	since	since	SCONJ
fsr-3796	193	2	the	the	DET
fsr-3796	193	3	frm	frm	PROPN
fsr-3796	193	4	has	have	VERB
fsr-3796	193	5	both	both	CCONJ
fsr-3796	193	6	a	a	DET
fsr-3796	193	7	lower	lower	ADV
fsr-3796	193	8	expected	expect	VERB
fsr-3796	193	9	present	present	ADJ
fsr-3796	193	10	value	value	NOUN
fsr-3796	193	11	cost	cost	NOUN
fsr-3796	193	12	and	and	CCONJ
fsr-3796	193	13	less	less	ADJ
fsr-3796	193	14	risk	risk	NOUN
fsr-3796	193	15	,	,	PUNCT
fsr-3796	193	16	risk	risk	NOUN
fsr-3796	193	17	averse	averse	ADJ
fsr-3796	193	18	borrowers	borrower	NOUN
fsr-3796	193	19	should	should	AUX
fsr-3796	193	20	prefer	prefer	VERB
fsr-3796	193	21	the	the	DET
fsr-3796	193	22	frm	frm	PROPN
fsr-3796	193	23	in	in	ADP
fsr-3796	193	24	choosing	choose	VERB
fsr-3796	193	25	between	between	ADP
fsr-3796	193	26	these	these	DET
fsr-3796	193	27	particular	particular	ADJ
fsr-3796	193	28	loan	loan	NOUN
fsr-3796	193	29	terms	term	NOUN
fsr-3796	193	30	.	.	PUNCT
fsr-3796	194	1	figure	figure	NOUN
fsr-3796	194	2	8	8	NUM
fsr-3796	194	3	shows	show	VERB
fsr-3796	194	4	the	the	DET
fsr-3796	194	5	distribution	distribution	NOUN
fsr-3796	194	6	of	of	ADP
fsr-3796	194	7	breakeven	breakeven	ADJ
fsr-3796	194	8	periods	period	NOUN
fsr-3796	194	9	.	.	PUNCT
fsr-3796	195	1	of	of	ADP
fsr-3796	195	2	the	the	DET
fsr-3796	195	3	1,000	1,000	NUM
fsr-3796	195	4	iterations	iteration	NOUN
fsr-3796	195	5	,	,	PUNCT
fsr-3796	195	6	the	the	DET
fsr-3796	195	7	arm	arm	NOUN
fsr-3796	195	8	present	present	ADJ
fsr-3796	195	9	value	value	NOUN
fsr-3796	195	10	cost	cost	NOUN
fsr-3796	195	11	dominated	dominate	VERB
fsr-3796	195	12	the	the	DET
fsr-3796	195	13	frm	frm	PROPN
fsr-3796	195	14	cost	cost	NOUN
fsr-3796	195	15	for	for	ADP
fsr-3796	195	16	just	just	ADV
fsr-3796	195	17	one	one	NUM
fsr-3796	195	18	year	year	NOUN
fsr-3796	195	19	in	in	ADP
fsr-3796	195	20	fifty	fifty	NUM
fsr-3796	195	21	nine	nine	NUM
fsr-3796	195	22	percent	percent	NOUN
fsr-3796	195	23	of	of	ADP
fsr-3796	195	24	the	the	DET
fsr-3796	195	25	cases	case	NOUN
fsr-3796	195	26	.	.	PUNCT
fsr-3796	196	1	dominance	dominance	NOUN
fsr-3796	196	2	of	of	ADP
fsr-3796	196	3	the	the	DET
fsr-3796	196	4	arm	arm	NOUN
fsr-3796	196	5	over	over	ADP
fsr-3796	196	6	the	the	DET
fsr-3796	196	7	frm	frm	PROPN
fsr-3796	196	8	for	for	ADP
fsr-3796	196	9	the	the	DET
fsr-3796	196	10	entire	entire	ADJ
fsr-3796	196	11	thirty	thirty	NUM
fsr-3796	196	12	year	year	NOUN
fsr-3796	196	13	term	term	NOUN
fsr-3796	196	14	in	in	ADP
fsr-3796	196	15	this	this	DET
fsr-3796	196	16	simulation	simulation	NOUN
fsr-3796	196	17	is	be	AUX
fsr-3796	196	18	rare	rare	ADJ
fsr-3796	196	19	indeed	indeed	ADV
fsr-3796	196	20	.	.	PUNCT
fsr-3796	197	1	figure	figure	NOUN
fsr-3796	197	2	9	9	NUM
fsr-3796	197	3	shows	show	VERB
fsr-3796	197	4	the	the	DET
fsr-3796	197	5	expected	expect	VERB
fsr-3796	197	6	path	path	NOUN
fsr-3796	197	7	of	of	ADP
fsr-3796	197	8	the	the	DET
fsr-3796	197	9	arm	arm	NOUN
fsr-3796	197	10	pay	pay	NOUN
fsr-3796	197	11	table	table	NOUN
fsr-3796	197	12	3	3	NUM
fsr-3796	197	13	high	high	ADJ
fsr-3796	197	14	interest	interest	NOUN
fsr-3796	197	15	rate	rate	NOUN
fsr-3796	197	16	environment	environment	NOUN
fsr-3796	197	17	simulation	simulation	NOUN
fsr-3796	197	18	parameters	parameter	NOUN
fsr-3796	197	19	parameters	parameter	NOUN
fsr-3796	197	20	~~us~~l~	~~us~~l~	PROPN
fsr-3796	197	21	rate	rate	NOUN
fsr-3796	197	22	fixed	fix	VERB
fsr-3796	197	23	rate	rate	NOUN
fsr-3796	197	24	term	term	NOUN
fsr-3796	197	25	30	30	NUM
fsr-3796	197	26	years	year	NOUN
fsr-3796	197	27	30	30	NUM
fsr-3796	197	28	years	year	NOUN
fsr-3796	197	29	loan	loan	NOUN
fsr-3796	197	30	amount	amount	NOUN
fsr-3796	197	31	$	$	SYM
fsr-3796	197	32	100,000	100,000	NUM
fsr-3796	197	33	$	$	SYM
fsr-3796	197	34	100,000	100,000	NUM
fsr-3796	197	35	discount	discount	NOUN
fsr-3796	197	36	points	point	NOUN
fsr-3796	197	37	1.250	1.250	NUM
fsr-3796	197	38	%	%	NOUN
fsr-3796	197	39	1.000	1.000	NUM
fsr-3796	197	40	%	%	NOUN
fsr-3796	197	41	index	index	NOUN
fsr-3796	197	42	1	1	NUM
fsr-3796	197	43	year	year	NOUN
fsr-3796	197	44	treasury	treasury	NOUN
fsr-3796	197	45	10	10	NUM
fsr-3796	197	46	year	year	NOUN
fsr-3796	197	47	treasury	treasury	PROPN
fsr-3796	197	48	initial	initial	ADJ
fsr-3796	197	49	index	index	NOUN
fsr-3796	197	50	value	value	NOUN
fsr-3796	197	51	9.78	9.78	NUM
fsr-3796	197	52	%	%	NOUN
fsr-3796	197	53	9.20	9.20	NUM
fsr-3796	197	54	%	%	NOUN
fsr-3796	197	55	*	*	PUNCT
fsr-3796	197	56	standard	standard	ADJ
fsr-3796	197	57	deviation	deviation	NOUN
fsr-3796	197	58	of	of	ADP
fsr-3796	197	59	index	index	NOUN
fsr-3796	197	60	2.77	2.77	NUM
fsr-3796	197	61	%	%	NOUN
fsr-3796	197	62	2.21	2.21	NUM
fsr-3796	197	63	%	%	NOUN
fsr-3796	197	64	*	*	PUNCT
fsr-3796	197	65	maximum	maximum	ADJ
fsr-3796	197	66	value	value	NOUN
fsr-3796	197	67	of	of	ADP
fsr-3796	197	68	index	index	NOUN
fsr-3796	197	69	11.00	11.00	NUM
fsr-3796	197	70	%	%	NOUN
fsr-3796	197	71	12.00	12.00	NUM
fsr-3796	197	72	%	%	NOUN
fsr-3796	197	73	*	*	PUNCT
fsr-3796	197	74	minimum	minimum	NOUN
fsr-3796	197	75	value	value	NOUN
fsr-3796	197	76	of	of	ADP
fsr-3796	197	77	index	index	NOUN
fsr-3796	197	78	3.00	3.00	NUM
fsr-3796	197	79	%	%	NOUN
fsr-3796	197	80	5.25	5.25	NUM
fsr-3796	197	81	%	%	NOUN
fsr-3796	197	82	*	*	PUNCT
fsr-3796	197	83	margin	margin	NOUN
fsr-3796	197	84	over	over	ADP
fsr-3796	197	85	index	index	NOUN
fsr-3796	197	86	2.75	2.75	NUM
fsr-3796	197	87	%	%	NOUN
fsr-3796	197	88	2.050	2.050	NUM
fsr-3796	197	89	%	%	NOUN
fsr-3796	197	90	*	*	PUNCT
fsr-3796	197	91	initial	initial	ADJ
fsr-3796	197	92	composite	composite	ADJ
fsr-3796	197	93	rate	rate	NOUN
fsr-3796	197	94	12.53	12.53	NUM
fsr-3796	197	95	%	%	NOUN
fsr-3796	197	96	initial	initial	ADJ
fsr-3796	197	97	adjustable	adjustable	ADJ
fsr-3796	197	98	rate	rate	NOUN
fsr-3796	197	99	10.50	10.50	NUM
fsr-3796	197	100	%	%	NOUN
fsr-3796	197	101	initial	initial	ADJ
fsr-3796	197	102	fixed	fix	VERB
fsr-3796	197	103	rate	rate	NOUN
fsr-3796	197	104	11.25	11.25	NUM
fsr-3796	197	105	%	%	NOUN
fsr-3796	197	106	after	after	ADP
fsr-3796	197	107	-	-	PUNCT
fsr-3796	197	108	tax	tax	NOUN
fsr-3796	197	109	discount	discount	NOUN
fsr-3796	197	110	rate	rate	NOUN
fsr-3796	197	111	4.00	4.00	NUM
fsr-3796	197	112	%	%	NOUN
fsr-3796	197	113	4.00	4.00	NUM
fsr-3796	197	114	%	%	NOUN
fsr-3796	197	115	marginal	marginal	ADJ
fsr-3796	197	116	tax	tax	NOUN
fsr-3796	197	117	rate	rate	NOUN
fsr-3796	197	118	28	28	NUM
fsr-3796	197	119	%	%	NOUN
fsr-3796	197	120	28	28	NUM
fsr-3796	197	121	%	%	NOUN
fsr-3796	197	122	annual	annual	ADJ
fsr-3796	197	123	rate	rate	NOUN
fsr-3796	197	124	change	change	NOUN
fsr-3796	197	125	cap	cap	NOUN
fsr-3796	197	126	2.00	2.00	NUM
fsr-3796	197	127	%	%	NOUN
fsr-3796	197	128	life	life	NOUN
fsr-3796	197	129	time	time	NOUN
fsr-3796	197	130	rate	rate	NOUN
fsr-3796	197	131	change	change	NOUN
fsr-3796	197	132	cap	cap	NOUN
fsr-3796	197	133	6.00	6.00	NUM
fsr-3796	197	134	%	%	NOUN
fsr-3796	197	135	fixed	fix	VERB
fsr-3796	197	136	rate	rate	NOUN
fsr-3796	197	137	refinancing	refinancing	NOUN
fsr-3796	197	138	trigger	trigger	NOUN
fsr-3796	197	139	2.50	2.50	NUM
fsr-3796	197	140	%	%	NOUN
fsr-3796	197	141	*	*	PUNCT
fsr-3796	197	142	minimum	minimum	ADJ
fsr-3796	197	143	required	require	VERB
fsr-3796	197	144	remaining	remain	VERB
fsr-3796	197	145	term	term	NOUN
fsr-3796	197	146	15	15	NUM
fsr-3796	197	147	years	year	NOUN
fsr-3796	197	148	*	*	PUNCT
fsr-3796	197	149	for	for	ADP
fsr-3796	197	150	frm	frm	PROPN
fsr-3796	197	151	refinancing	refinance	VERB
fsr-3796	197	152	nufe	nufe	NOUN
fsr-3796	197	153	~	~	ADP
fsr-3796	197	154	r	r	NOUN
fsr-3796	197	155	these	these	DET
fsr-3796	197	156	waxlard	waxlard	NOUN
fsr-3796	197	157	deviations	deviation	NOUN
fsr-3796	197	158	of	of	ADP
fsr-3796	197	159	annual	annual	ADJ
fsr-3796	197	160	changes	change	NOUN
fsr-3796	197	161	in	in	ADP
fsr-3796	197	162	index	index	NOUN
fsr-3796	197	163	values	value	NOUN
fsr-3796	197	164	were	be	AUX
fsr-3796	197	165	based	base	VERB
fsr-3796	197	166	on	on	ADP
fsr-3796	197	167	the	the	DET
fsr-3796	197	168	period	period	NOUN
fsr-3796	197	169	november	november	PROPN
fsr-3796	197	170	1979	1979	NUM
fsr-3796	197	171	to	to	ADP
fsr-3796	197	172	december	december	PROPN
fsr-3796	197	173	i986	i986	PROPN
fsr-3796	197	174	.	.	PUNCT
fsr-3796	198	1	the	the	DET
fsr-3796	198	2	standard	standard	ADJ
fsr-3796	198	3	deviation	deviation	NOUN
fsr-3796	198	4	of	of	ADP
fsr-3796	198	5	changes	change	NOUN
fsr-3796	198	6	in	in	ADP
fsr-3796	198	7	the	the	DET
fsr-3796	198	8	one	one	NUM
fsr-3796	198	9	year	year	NOUN
fsr-3796	198	10	rate	rate	NOUN
fsr-3796	198	11	is	be	AUX
fsr-3796	198	12	slightly	slightly	ADV
fsr-3796	198	13	higher	high	ADJ
fsr-3796	198	14	than	than	ADP
fsr-3796	198	15	that	that	PRON
fsr-3796	198	16	used	use	VERB
fsr-3796	198	17	for	for	ADP
fsr-3796	198	18	the	the	DET
fsr-3796	198	19	first	first	ADJ
fsr-3796	198	20	simulation	simulation	NOUN
fsr-3796	198	21	.	.	PUNCT
fsr-3796	199	1	the	the	DET
fsr-3796	199	2	estimation	estimation	NOUN
fsr-3796	199	3	period	period	NOUN
fsr-3796	199	4	for	for	ADP
fsr-3796	199	5	the	the	DET
fsr-3796	199	6	standard	standard	ADJ
fsr-3796	199	7	deviation	deviation	NOUN
fsr-3796	199	8	for	for	ADP
fsr-3796	199	9	the	the	DET
fsr-3796	199	10	tint	tint	NOUN
fsr-3796	199	11	simulation	simulation	NOUN
fsr-3796	199	12	was	be	AUX
fsr-3796	199	13	november	november	PROPN
fsr-3796	199	14	1979	1979	NUM
fsr-3796	199	15	to	to	ADP
fsr-3796	199	16	december	december	PROPN
fsr-3796	199	17	1991	1991	NUM
fsr-3796	199	18	.	.	PUNCT
fsr-3796	200	1	fixed	fix	VERB
fsr-3796	200	2	rate	rate	NOUN
fsr-3796	200	3	parametera	parametera	NOUN
fsr-3796	200	4	marked	mark	VERB
fsr-3796	200	5	with	with	ADP
fsr-3796	200	6	an	an	DET
fsr-3796	200	7	asterisk	asterisk	NOUN
fsr-3796	200	8	are	be	AUX
fsr-3796	200	9	only	only	ADV
fsr-3796	200	10	in	in	ADP
fsr-3796	200	11	the	the	DET
fsr-3796	200	12	simu	simu	NOUN
fsr-3796	200	13	lation	lation	NOUN
fsr-3796	200	14	that	that	PRON
fsr-3796	200	15	allows	allow	VERB
fsr-3796	200	16	the	the	DET
fsr-3796	200	17	refinancing	refinance	VERB
fsr-3796	200	18	option	option	NOUN
fsr-3796	200	19	for	for	ADP
fsr-3796	200	20	the	the	DET
fsr-3796	200	21	frm	frm	PROPN
fsr-3796	200	22	.	.	PROPN
fsr-3796	200	23	112	112	NUM
fsr-3796	200	24	financial	financial	ADJ
fsr-3796	200	25	services	service	NOUN
fsr-3796	200	26	review	review	VERB
fsr-3796	200	27	5(2	5(2	NUM
fsr-3796	200	28	)	)	PUNCT
fsr-3796	200	29	1996	1996	NUM
fsr-3796	200	30	50,000	50,000	NUM
fsr-3796	200	31	40,ooa	40,ooa	NUM
fsr-3796	200	32	30,000	30,000	NUM
fsr-3796	200	33	20,000	20,000	NUM
fsr-3796	200	34	$	$	SYM
fsr-3796	200	35	=	=	SYM
fsr-3796	200	36	0	0	NUM
fsr-3796	200	37	”	"	PUNCT
fsr-3796	200	38	10,000	10,000	NUM
fsr-3796	200	39	f	f	NOUN
fsr-3796	200	40	3	3	NUM
fsr-3796	200	41	e	e	NOUN
fsr-3796	200	42	z	z	NOUN
fsr-3796	200	43	0	0	NUM
fsr-3796	201	1	p	p	X
fsr-3796	201	2	!	!	PUNCT
fsr-3796	202	1	a	a	DET
fsr-3796	202	2	-10,000	-10,000	PROPN
fsr-3796	202	3	-20,000	-20,000	INTJ
fsr-3796	202	4	-30,000	-30,000	PUNCT
fsr-3796	202	5	-40,000	-40,000	PUNCT
fsr-3796	202	6	i	i	NOUN
fsr-3796	202	7	,	,	PUNCT
fsr-3796	202	8	-	-	PUNCT
fsr-3796	202	9	arm	arm	NOUN
fsr-3796	202	10	advantage	advantage	NOUN
fsr-3796	202	11	/	/	PUNCT
fsr-3796	202	12	..	..	PUNCT
fsr-3796	202	13	jgi	jgi	NOUN
fsr-3796	202	14	life	life	NOUN
fsr-3796	202	15	of	of	ADP
fsr-3796	202	16	mortgage	mortgage	NOUN
fsr-3796	202	17	i	i	PRON
fsr-3796	202	18	figure	figure	VERB
fsr-3796	202	19	6	6	NUM
fsr-3796	202	20	.	.	PUNCT
fsr-3796	202	21	high	high	ADJ
fsr-3796	202	22	interest	interest	NOUN
fsr-3796	202	23	rate	rate	NOUN
fsr-3796	202	24	environment	environment	NOUN
fsr-3796	202	25	cost	cost	VERB
fsr-3796	202	26	comparison	comparison	NOUN
fsr-3796	202	27	.	.	PUNCT
fsr-3796	203	1	the	the	DET
fsr-3796	203	2	heavy	heavy	ADJ
fsr-3796	203	3	black	black	ADJ
fsr-3796	203	4	line	line	NOUN
fsr-3796	203	5	indicates	indicate	VERB
fsr-3796	203	6	the	the	DET
fsr-3796	203	7	expected	expect	VERB
fsr-3796	203	8	present	present	ADJ
fsr-3796	203	9	value	value	NOUN
fsr-3796	203	10	cost	cost	NOUN
fsr-3796	203	11	differential	differential	NOUN
fsr-3796	203	12	(	(	PUNCT
fsr-3796	203	13	em	em	NOUN
fsr-3796	203	14	-	-	PUNCT
fsr-3796	203	15	a~	a~	PROPN
fsr-3796	203	16	)	)	PUNCT
fsr-3796	203	17	of	of	ADP
fsr-3796	203	18	$	$	SYM
fsr-3796	203	19	l~,~o	l~,~o	NOUN
fsr-3796	203	20	mortgages	mortgage	NOUN
fsr-3796	203	21	at	at	ADP
fsr-3796	203	22	a	a	DET
fsr-3796	203	23	4	4	NUM
fsr-3796	203	24	percent	percent	NOUN
fsr-3796	203	25	discount	discount	NOUN
fsr-3796	203	26	rate	rate	NOUN
fsr-3796	203	27	.	.	PUNCT
fsr-3796	204	1	the	the	DET
fsr-3796	204	2	lines	line	NOUN
fsr-3796	204	3	marked	mark	VERB
fsr-3796	204	4	with	with	ADP
fsr-3796	204	5	triangles	triangle	NOUN
fsr-3796	204	6	represent	represent	VERB
fsr-3796	204	7	the	the	DET
fsr-3796	204	8	expected	expect	VERB
fsr-3796	204	9	present	present	ADJ
fsr-3796	204	10	value	value	NOUN
fsr-3796	204	11	cost	cost	NOUN
fsr-3796	204	12	differential	differential	NOUN
fsr-3796	204	13	plus	plus	CCONJ
fsr-3796	204	14	and	and	CCONJ
fsr-3796	204	15	minus	minus	CCONJ
fsr-3796	204	16	one	one	NUM
fsr-3796	204	17	standard	standard	ADJ
fsr-3796	204	18	deviation	deviation	NOUN
fsr-3796	204	19	.	.	PUNCT
fsr-3796	205	1	ninety	ninety	NUM
fsr-3796	205	2	percent	percent	NOUN
fsr-3796	205	3	of	of	ADP
fsr-3796	205	4	the	the	DET
fsr-3796	205	5	simulation	simulation	NOUN
fsr-3796	205	6	runs	run	NOUN
fsr-3796	205	7	resulted	result	VERB
fsr-3796	205	8	in	in	ADP
fsr-3796	205	9	present	present	ADJ
fsr-3796	205	10	value	value	NOUN
fsr-3796	205	11	cost	cost	NOUN
fsr-3796	205	12	differentials	differential	NOUN
fsr-3796	205	13	between	between	ADP
fsr-3796	205	14	the	the	DET
fsr-3796	205	15	lines	line	NOUN
fsr-3796	205	16	marked	mark	VERB
fsr-3796	205	17	with	with	ADP
fsr-3796	205	18	squares	square	NOUN
fsr-3796	205	19	.	.	PUNCT
fsr-3796	206	1	ment	ment	NOUN
fsr-3796	206	2	versus	versus	ADP
fsr-3796	206	3	the	the	DET
fsr-3796	206	4	expected	expect	VERB
fsr-3796	206	5	path	path	NOUN
fsr-3796	206	6	of	of	ADP
fsr-3796	206	7	the	the	DET
fsr-3796	206	8	frh4	frh4	PROPN
fsr-3796	206	9	payment	payment	NOUN
fsr-3796	206	10	.	.	PUNCT
fsr-3796	207	1	borrowers	borrower	NOUN
fsr-3796	207	2	who	who	PRON
fsr-3796	207	3	focus	focus	VERB
fsr-3796	207	4	on	on	ADP
fsr-3796	207	5	this	this	DET
fsr-3796	207	6	aspect	aspect	NOUN
fsr-3796	207	7	would	would	AUX
fsr-3796	207	8	also	also	ADV
fsr-3796	207	9	be	be	AUX
fsr-3796	207	10	better	well	ADV
fsr-3796	207	11	served	serve	VERB
fsr-3796	207	12	by	by	ADP
fsr-3796	207	13	choosing	choose	VERB
fsr-3796	207	14	the	the	DET
fsr-3796	207	15	frm	frm	PROPN
fsr-3796	207	16	given	give	VERB
fsr-3796	207	17	these	these	DET
fsr-3796	207	18	loan	loan	NOUN
fsr-3796	207	19	terms	term	NOUN
fsr-3796	207	20	.	.	PUNCT
fsr-3796	208	1	v.	v.	ADP
fsr-3796	208	2	riscussio~	riscussio~	PROPN
fsr-3796	208	3	comparing	compare	VERB
fsr-3796	208	4	the	the	DET
fsr-3796	208	5	loan	loan	NOUN
fsr-3796	208	6	terms	term	NOUN
fsr-3796	208	7	of	of	ADP
fsr-3796	208	8	arms	arm	NOUN
fsr-3796	208	9	and	and	CCONJ
fsr-3796	208	10	frms	frm	NOUN
fsr-3796	208	11	can	can	AUX
fsr-3796	208	12	be	be	AUX
fsr-3796	208	13	difficult	difficult	ADJ
fsr-3796	208	14	.	.	PUNCT
fsr-3796	209	1	borrowers	borrower	NOUN
fsr-3796	209	2	must	must	AUX
fsr-3796	209	3	consider	consider	VERB
fsr-3796	209	4	the	the	DET
fsr-3796	209	5	impacts	impact	NOUN
fsr-3796	209	6	of	of	ADP
fsr-3796	209	7	multiple	multiple	ADJ
fsr-3796	209	8	variables	variable	NOUN
fsr-3796	209	9	on	on	ADP
fsr-3796	209	10	total	total	ADJ
fsr-3796	209	11	present	present	ADJ
fsr-3796	209	12	value	value	NOUN
fsr-3796	209	13	cost	cost	NOUN
fsr-3796	209	14	,	,	PUNCT
fsr-3796	209	15	payment	payment	NOUN
fsr-3796	209	16	size	size	NOUN
fsr-3796	209	17	,	,	PUNCT
fsr-3796	209	18	and	and	CCONJ
fsr-3796	209	19	risk	risk	NOUN
fsr-3796	209	20	.	.	PUNCT
fsr-3796	210	1	future	future	ADJ
fsr-3796	210	2	interest	interest	NOUN
fsr-3796	210	3	rate	rate	NOUN
fsr-3796	210	4	movements	movement	NOUN
fsr-3796	210	5	,	,	PUNCT
fsr-3796	210	6	the	the	DET
fsr-3796	210	7	initial	initial	ADJ
fsr-3796	210	8	spread	spread	NOUN
fsr-3796	210	9	between	between	ADP
fsr-3796	210	10	the	the	DET
fsr-3796	210	11	arm	arm	NOUN
fsr-3796	210	12	and	and	CCONJ
fsr-3796	210	13	frm	frm	PROPN
fsr-3796	210	14	rates	rate	NOUN
fsr-3796	210	15	,	,	PUNCT
fsr-3796	210	16	the	the	DET
fsr-3796	210	17	teaser	teaser	NOUN
fsr-3796	210	18	dis	dis	PROPN
fsr-3796	210	19	fixed	fix	VERB
fsr-3796	210	20	and	and	CCONJ
fsr-3796	210	21	adjustable	adjustable	ADJ
fsr-3796	210	22	rate	rate	NOUN
fsr-3796	210	23	mortgages	mortgage	NOUN
fsr-3796	210	24	113	113	NUM
fsr-3796	210	25	50,000	50,000	NUM
fsr-3796	210	26	40,000	40,000	NUM
fsr-3796	210	27	30,000	30,000	NUM
fsr-3796	210	28	20,000	20,000	NUM
fsr-3796	210	29	g	g	PROPN
fsr-3796	210	30	z	z	PROPN
fsr-3796	210	31	n	n	NOUN
fsr-3796	210	32	10,000	10,000	NUM
fsr-3796	210	33	s	s	NOUN
fsr-3796	210	34	3	3	NUM
fsr-3796	210	35	e	e	NOUN
fsr-3796	210	36	2	2	NUM
fsr-3796	210	37	0	0	NUM
fsr-3796	210	38	2	2	NUM
fsr-3796	210	39	?	?	NUM
fsr-3796	211	1	n	n	CCONJ
fsr-3796	211	2	-10,000	-10,000	PROPN
fsr-3796	211	3	-20,000	-20,000	PROPN
fsr-3796	211	4	-30,000	-30,000	PUNCT
fsr-3796	211	5	-40,000	-40,000	ADJ
fsr-3796	211	6	life	life	NOUN
fsr-3796	211	7	of	of	ADP
fsr-3796	211	8	mortgage	mortgage	NOUN
fsr-3796	211	9	figure	figure	NOUN
fsr-3796	211	10	7	7	NUM
fsr-3796	211	11	.	.	PUNCT
fsr-3796	211	12	high	high	ADJ
fsr-3796	211	13	interest	interest	NOUN
fsr-3796	211	14	rate	rate	NOUN
fsr-3796	211	15	environment	environment	NOUN
fsr-3796	211	16	cost	cost	VERB
fsr-3796	211	17	comparison	comparison	NOUN
fsr-3796	211	18	assuming	assume	VERB
fsr-3796	211	19	refinancing	refinance	VERB
fsr-3796	211	20	option	option	NOUN
fsr-3796	211	21	.	.	PUNCT
fsr-3796	212	1	the	the	DET
fsr-3796	212	2	heavy	heavy	ADJ
fsr-3796	212	3	black	black	ADJ
fsr-3796	212	4	line	line	NOUN
fsr-3796	212	5	indicates	indicate	VERB
fsr-3796	212	6	the	the	DET
fsr-3796	212	7	expected	expect	VERB
fsr-3796	212	8	present	present	ADJ
fsr-3796	212	9	value	value	NOUN
fsr-3796	212	10	cost	cost	NOUN
fsr-3796	212	11	differential	differential	NOUN
fsr-3796	212	12	(	(	PUNCT
fsr-3796	212	13	ffcm	ffcm	NOUN
fsr-3796	212	14	-	-	PUNCT
fsr-3796	212	15	arm	arm	NOUN
fsr-3796	212	16	)	)	PUNCT
fsr-3796	212	17	of	of	ADP
fsr-3796	212	18	$	$	SYM
fsr-3796	212	19	100,000	100,000	NUM
fsr-3796	212	20	mortgages	mortgage	NOUN
fsr-3796	212	21	at	at	ADP
fsr-3796	212	22	a	a	DET
fsr-3796	212	23	4	4	NUM
fsr-3796	212	24	percent	percent	NOUN
fsr-3796	212	25	discount	discount	NOUN
fsr-3796	212	26	rate	rate	NOUN
fsr-3796	212	27	.	.	PUNCT
fsr-3796	213	1	the	the	DET
fsr-3796	213	2	lines	line	NOUN
fsr-3796	213	3	marked	mark	VERB
fsr-3796	213	4	with	with	ADP
fsr-3796	213	5	triangles	triangle	NOUN
fsr-3796	213	6	represent	represent	VERB
fsr-3796	213	7	the	the	DET
fsr-3796	213	8	expected	expect	VERB
fsr-3796	213	9	present	present	ADJ
fsr-3796	213	10	value	value	NOUN
fsr-3796	213	11	cost	cost	NOUN
fsr-3796	213	12	differential	differential	NOUN
fsr-3796	213	13	plus	plus	CCONJ
fsr-3796	213	14	and	and	CCONJ
fsr-3796	213	15	minus	minus	CCONJ
fsr-3796	213	16	one	one	NUM
fsr-3796	213	17	standard	standard	ADJ
fsr-3796	213	18	deviation	deviation	NOUN
fsr-3796	213	19	.	.	PUNCT
fsr-3796	214	1	ninety	ninety	NUM
fsr-3796	214	2	percent	percent	NOUN
fsr-3796	214	3	of	of	ADP
fsr-3796	214	4	the	the	DET
fsr-3796	214	5	simulation	simulation	NOUN
fsr-3796	214	6	runs	run	NOUN
fsr-3796	214	7	resulted	result	VERB
fsr-3796	214	8	in	in	ADP
fsr-3796	214	9	present	present	ADJ
fsr-3796	214	10	value	value	NOUN
fsr-3796	214	11	cost	cost	NOUN
fsr-3796	214	12	differentials	differential	NOUN
fsr-3796	214	13	between	between	ADP
fsr-3796	214	14	the	the	DET
fsr-3796	214	15	lines	line	NOUN
fsr-3796	214	16	marked	mark	VERB
fsr-3796	214	17	with	with	ADP
fsr-3796	214	18	squares	square	NOUN
fsr-3796	214	19	.	.	PUNCT
fsr-3796	215	1	count	count	NOUN
fsr-3796	215	2	,	,	PUNCT
fsr-3796	215	3	discount	discount	NOUN
fsr-3796	215	4	points	point	NOUN
fsr-3796	215	5	,	,	PUNCT
fsr-3796	215	6	refinancing	refinance	VERB
fsr-3796	215	7	costs	cost	NOUN
fsr-3796	215	8	,	,	PUNCT
fsr-3796	215	9	and	and	CCONJ
fsr-3796	215	10	the	the	DET
fsr-3796	215	11	planned	plan	VERB
fsr-3796	215	12	life	life	NOUN
fsr-3796	215	13	of	of	ADP
fsr-3796	215	14	the	the	DET
fsr-3796	215	15	mortgage	mortgage	NOUN
fsr-3796	215	16	all	all	DET
fsr-3796	215	17	influence	influence	VERB
fsr-3796	215	18	this	this	DET
fsr-3796	215	19	choice	choice	NOUN
fsr-3796	215	20	.	.	PUNCT
fsr-3796	216	1	this	this	DET
fsr-3796	216	2	paper	paper	NOUN
fsr-3796	216	3	has	have	AUX
fsr-3796	216	4	examined	examine	VERB
fsr-3796	216	5	the	the	DET
fsr-3796	216	6	arm	arm	NOUN
fsr-3796	216	7	-	-	PUNCT
fsr-3796	216	8	frm	frm	PROPN
fsr-3796	216	9	choice	choice	NOUN
fsr-3796	216	10	in	in	ADP
fsr-3796	216	11	both	both	CCONJ
fsr-3796	216	12	relatively	relatively	ADV
fsr-3796	216	13	high	high	ADJ
fsr-3796	216	14	and	and	CCONJ
fsr-3796	216	15	low	low	ADJ
fsr-3796	216	16	inter	inter	X
fsr-3796	216	17	est	est	X
fsr-3796	216	18	rate	rate	NOUN
fsr-3796	216	19	environments	environment	NOUN
fsr-3796	216	20	and	and	CCONJ
fsr-3796	216	21	found	find	VERB
fsr-3796	216	22	results	result	NOUN
fsr-3796	216	23	that	that	PRON
fsr-3796	216	24	challenge	challenge	VERB
fsr-3796	216	25	some	some	PRON
fsr-3796	216	26	of	of	ADP
fsr-3796	216	27	the	the	DET
fsr-3796	216	28	advice	advice	NOUN
fsr-3796	216	29	commonly	commonly	ADV
fsr-3796	216	30	given	give	VERB
fsr-3796	216	31	to	to	ADP
fsr-3796	216	32	borrowers	borrower	NOUN
fsr-3796	216	33	.	.	PUNCT
fsr-3796	217	1	for	for	ADP
fsr-3796	217	2	example	example	NOUN
fsr-3796	217	3	,	,	PUNCT
fsr-3796	217	4	is	be	AUX
fsr-3796	217	5	an	an	DET
fsr-3796	217	6	arm	arm	NOUN
fsr-3796	217	7	the	the	DET
fsr-3796	217	8	low	low	ADJ
fsr-3796	217	9	cost	cost	NOUN
fsr-3796	217	10	choice	choice	NOUN
fsr-3796	217	11	when	when	SCONJ
fsr-3796	217	12	mortgage	mortgage	NOUN
fsr-3796	217	13	rates	rate	NOUN
fsr-3796	217	14	are	be	AUX
fsr-3796	217	15	high	high	ADJ
fsr-3796	217	16	?	?	PUNCT
fsr-3796	218	1	in	in	ADP
fsr-3796	218	2	the	the	DET
fsr-3796	218	3	case	case	NOUN
fsr-3796	218	4	of	of	ADP
fsr-3796	218	5	the	the	DET
fsr-3796	218	6	lender	lender	NOUN
fsr-3796	218	7	terms	term	NOUN
fsr-3796	218	8	used	use	VERB
fsr-3796	218	9	in	in	ADP
fsr-3796	218	10	this	this	DET
fsr-3796	218	11	study	study	NOUN
fsr-3796	218	12	,	,	PUNCT
fsr-3796	218	13	the	the	DET
fsr-3796	218	14	initial	initial	ADJ
fsr-3796	218	15	spread	spread	NOUN
fsr-3796	218	16	between	between	ADP
fsr-3796	218	17	arm	arm	NOUN
fsr-3796	218	18	and	and	CCONJ
fsr-3796	218	19	frm	frm	PROPN
fsr-3796	218	20	rates	rate	NOUN
fsr-3796	218	21	in	in	ADP
fsr-3796	218	22	the	the	DET
fsr-3796	218	23	high	high	ADJ
fsr-3796	218	24	interest	interest	NOUN
fsr-3796	218	25	rate	rate	NOUN
fsr-3796	218	26	environment	environment	NOUN
fsr-3796	218	27	was	be	AUX
fsr-3796	218	28	only	only	ADV
fsr-3796	218	29	75	75	NUM
fsr-3796	218	30	basis	basis	NOUN
fsr-3796	218	31	points	point	NOUN
fsr-3796	218	32	.	.	PUNCT
fsr-3796	219	1	in	in	ADP
fsr-3796	219	2	fact	fact	NOUN
fsr-3796	219	3	,	,	PUNCT
fsr-3796	219	4	without	without	ADP
fsr-3796	219	5	the	the	DET
fsr-3796	219	6	first	first	ADJ
fsr-3796	219	7	year	year	NOUN
fsr-3796	219	8	teaser	teaser	NOUN
fsr-3796	219	9	discount	discount	NOUN
fsr-3796	219	10	,	,	PUNCT
fsr-3796	219	11	the	the	DET
fsr-3796	219	12	initial	initial	ADJ
fsr-3796	219	13	arm	arm	NOUN
fsr-3796	219	14	mortgage	mortgage	NOUN
fsr-3796	219	15	rate	rate	NOUN
fsr-3796	219	16	would	would	AUX
fsr-3796	219	17	have	have	AUX
fsr-3796	219	18	exceeded	exceed	VERB
fsr-3796	219	19	the	the	DET
fsr-3796	219	20	frm	frm	PROPN
fsr-3796	219	21	rate	rate	NOUN
fsr-3796	219	22	.	.	PUNCT
fsr-3796	220	1	though	though	SCONJ
fsr-3796	220	2	index	index	NOUN
fsr-3796	220	3	rates	rate	NOUN
fsr-3796	220	4	may	may	AUX
fsr-3796	220	5	decline	decline	VERB
fsr-3796	220	6	,	,	PUNCT
fsr-3796	220	7	any	any	DET
fsr-3796	220	8	present	present	ADJ
fsr-3796	220	9	value	value	NOUN
fsr-3796	220	10	cost	cost	NOUN
fsr-3796	220	11	advantage	advantage	NOUN
fsr-3796	220	12	to	to	ADP
fsr-3796	220	13	the	the	DET
fsr-3796	220	14	arm	arm	NOUN
fsr-3796	220	15	will	will	AUX
fsr-3796	220	16	depend	depend	VERB
fsr-3796	220	17	on	on	ADP
fsr-3796	220	18	how	how	SCONJ
fsr-3796	220	19	long	long	ADV
fsr-3796	220	20	it	it	PRON
fsr-3796	220	21	takes	take	VERB
fsr-3796	220	22	for	for	SCONJ
fsr-3796	220	23	this	this	DET
fsr-3796	220	24	decline	decline	NOUN
fsr-3796	220	25	to	to	PART
fsr-3796	220	26	occur	occur	VERB
fsr-3796	220	27	and	and	CCONJ
fsr-3796	220	28	how	how	SCONJ
fsr-3796	220	29	long	long	ADJ
fsr-3796	220	30	rates	rate	NOUN
fsr-3796	220	31	remain	remain	VERB
fsr-3796	220	32	at	at	ADP
fsr-3796	220	33	lower	low	ADJ
fsr-3796	220	34	levels	level	NOUN
fsr-3796	220	35	.	.	PUNCT
fsr-3796	221	1	on	on	ADP
fsr-3796	221	2	the	the	DET
fsr-3796	221	3	other	other	ADJ
fsr-3796	221	4	hand	hand	NOUN
fsr-3796	221	5	,	,	PUNCT
fsr-3796	221	6	the	the	DET
fsr-3796	221	7	frm	frm	PROPN
fsr-3796	221	8	would	would	AUX
fsr-3796	221	9	offer	offer	VERB
fsr-3796	221	10	protection	protection	NOUN
fsr-3796	221	11	against	against	ADP
fsr-3796	221	12	further	further	ADJ
fsr-3796	221	13	rises	rise	NOUN
fsr-3796	221	14	in	in	ADP
fsr-3796	221	15	interest	interest	NOUN
fsr-3796	221	16	rates	rate	NOUN
fsr-3796	221	17	,	,	PUNCT
fsr-3796	221	18	would	would	AUX
fsr-3796	221	19	not	not	PART
fsr-3796	221	20	be	be	AUX
fsr-3796	221	21	affected	affect	VERB
fsr-3796	221	22	by	by	ADP
fsr-3796	221	23	the	the	DET
fsr-3796	221	24	disappearance	disappearance	NOUN
fsr-3796	221	25	of	of	ADP
fsr-3796	221	26	a	a	DET
fsr-3796	221	27	first	first	ADJ
fsr-3796	221	28	year	year	NOUN
fsr-3796	221	29	teaser	teaser	NOUN
fsr-3796	221	30	discount	discount	NOUN
fsr-3796	221	31	,	,	PUNCT
fsr-3796	221	32	and	and	CCONJ
fsr-3796	221	33	can	can	AUX
fsr-3796	221	34	be	be	AUX
fsr-3796	221	35	refinanced	refinance	VERB
fsr-3796	221	36	114	114	NUM
fsr-3796	221	37	financial	financial	ADJ
fsr-3796	221	38	services	service	NOUN
fsr-3796	221	39	review	review	NOUN
fsr-3796	221	40	s(2	s(2	NOUN
fsr-3796	221	41	)	)	PUNCT
fsr-3796	221	42	1996	1996	NUM
fsr-3796	221	43	figure	figure	NOUN
fsr-3796	221	44	8	8	NUM
fsr-3796	221	45	.	.	PUNCT
fsr-3796	221	46	high	high	ADJ
fsr-3796	221	47	interest	interest	NOUN
fsr-3796	221	48	rate	rate	NOUN
fsr-3796	221	49	environment	environment	NOUN
fsr-3796	221	50	assuming	assume	VERB
fsr-3796	221	51	refinancing	refinance	VERB
fsr-3796	221	52	option	option	NOUN
fsr-3796	221	53	-	-	PUNCT
fsr-3796	221	54	number	number	NOUN
fsr-3796	221	55	of	of	ADP
fsr-3796	221	56	years	year	NOUN
fsr-3796	221	57	for	for	ADP
fsr-3796	221	58	which	which	PRON
fsr-3796	221	59	the	the	DET
fsr-3796	221	60	arh4	arh4	NOUN
fsr-3796	221	61	maintains	maintain	VERB
fsr-3796	221	62	its	its	PRON
fsr-3796	221	63	present	present	ADJ
fsr-3796	221	64	value	value	NOUN
fsr-3796	221	65	cost	cost	NOUN
fsr-3796	221	66	advantage	advantage	NOUN
fsr-3796	221	67	from	from	ADP
fsr-3796	221	68	the	the	DET
fsr-3796	221	69	initiation	initiation	NOUN
fsr-3796	221	70	of	of	ADP
fsr-3796	221	71	the	the	DET
fsr-3796	221	72	loan	loan	NOUN
fsr-3796	221	73	.	.	PUNCT
fsr-3796	222	1	for	for	ADP
fsr-3796	222	2	each	each	DET
fsr-3796	222	3	year	year	NOUN
fsr-3796	222	4	,	,	PUNCT
fsr-3796	222	5	the	the	DET
fsr-3796	222	6	bar	bar	NOUN
fsr-3796	222	7	height	height	NOUN
fsr-3796	222	8	shows	show	VERB
fsr-3796	222	9	the	the	DET
fsr-3796	222	10	fraction	fraction	NOUN
fsr-3796	222	11	of	of	ADP
fsr-3796	222	12	cases	case	NOUN
fsr-3796	222	13	for	for	ADP
fsr-3796	222	14	which	which	PRON
fsr-3796	222	15	the	the	DET
fsr-3796	222	16	arm	arm	NOUN
fsr-3796	222	17	’s	’s	PART
fsr-3796	222	18	initial	initial	ADJ
fsr-3796	222	19	present	present	ADJ
fsr-3796	222	20	value	value	NOUN
fsr-3796	222	21	cost	cost	NOUN
fsr-3796	222	22	advantage	advantage	NOUN
fsr-3796	222	23	continues	continue	VERB
fsr-3796	222	24	for	for	ADP
fsr-3796	222	25	exactly	exactly	ADV
fsr-3796	222	26	that	that	DET
fsr-3796	222	27	many	many	ADJ
fsr-3796	222	28	years	year	NOUN
fsr-3796	222	29	.	.	PUNCT
fsr-3796	223	1	thus	thus	ADV
fsr-3796	223	2	,	,	PUNCT
fsr-3796	223	3	the	the	DET
fsr-3796	223	4	bar	bar	NOUN
fsr-3796	223	5	height	height	NOUN
fsr-3796	223	6	at	at	ADP
fsr-3796	223	7	year	year	NOUN
fsr-3796	223	8	30	30	NUM
fsr-3796	223	9	indicates	indicate	VERB
fsr-3796	223	10	the	the	DET
fsr-3796	223	11	fraction	fraction	NOUN
fsr-3796	223	12	of	of	ADP
fsr-3796	223	13	cases	case	NOUN
fsr-3796	223	14	in	in	ADP
fsr-3796	223	15	which	which	PRON
fsr-3796	223	16	the	the	DET
fsr-3796	223	17	cost	cost	NOUN
fsr-3796	223	18	of	of	ADP
fsr-3796	223	19	the	the	DET
fsr-3796	223	20	arm	arm	NOUN
fsr-3796	223	21	dominates	dominate	VERB
fsr-3796	223	22	the	the	DET
fsr-3796	223	23	cost	cost	NOUN
fsr-3796	223	24	of	of	ADP
fsr-3796	223	25	the	the	DET
fsr-3796	223	26	frm	frm	PROPN
fsr-3796	223	27	for	for	ADP
fsr-3796	223	28	the	the	DET
fsr-3796	223	29	entire	entire	ADJ
fsr-3796	223	30	life	life	NOUN
fsr-3796	223	31	of	of	ADP
fsr-3796	223	32	the	the	DET
fsr-3796	223	33	mortgage	mortgage	NOUN
fsr-3796	223	34	.	.	PUNCT
fsr-3796	224	1	the	the	DET
fsr-3796	224	2	assumed	assumed	ADJ
fsr-3796	224	3	discount	discount	NOUN
fsr-3796	224	4	rate	rate	NOUN
fsr-3796	224	5	is	be	AUX
fsr-3796	224	6	4	4	NUM
fsr-3796	224	7	percent	percent	NOUN
fsr-3796	224	8	.	.	PUNCT
fsr-3796	225	1	if	if	SCONJ
fsr-3796	225	2	rates	rate	NOUN
fsr-3796	225	3	fall	fall	VERB
fsr-3796	225	4	substantially	substantially	ADV
fsr-3796	225	5	.	.	PUNCT
fsr-3796	226	1	tucker	tucker	PROPN
fsr-3796	226	2	’s	’s	PART
fsr-3796	226	3	(	(	PUNCT
fsr-3796	226	4	1991	1991	NUM
fsr-3796	226	5	)	)	PUNCT
fsr-3796	226	6	simulation	simulation	NOUN
fsr-3796	226	7	results	result	NOUN
fsr-3796	226	8	suggest	suggest	VERB
fsr-3796	226	9	near	near	ADP
fsr-3796	226	10	dominance	dominance	NOUN
fsr-3796	226	11	of	of	ADP
fsr-3796	226	12	the	the	DET
fsr-3796	226	13	arh4	arh4	PROPN
fsr-3796	226	14	in	in	ADP
fsr-3796	226	15	terms	term	NOUN
fsr-3796	226	16	of	of	ADP
fsr-3796	226	17	expected	expect	VERB
fsr-3796	226	18	present	present	ADJ
fsr-3796	226	19	value	value	NOUN
fsr-3796	226	20	cost	cost	NOUN
fsr-3796	226	21	during	during	ADP
fsr-3796	226	22	the	the	DET
fsr-3796	226	23	1985	1985	NUM
fsr-3796	226	24	to	to	ADP
fsr-3796	226	25	1989	1989	NUM
fsr-3796	226	26	time	time	NOUN
fsr-3796	226	27	period	period	NOUN
fsr-3796	226	28	,	,	PUNCT
fsr-3796	226	29	a	a	DET
fsr-3796	226	30	time	time	NOUN
fsr-3796	226	31	of	of	ADP
fsr-3796	226	32	relatively	relatively	ADV
fsr-3796	226	33	high	high	ADJ
fsr-3796	226	34	rates	rate	NOUN
fsr-3796	226	35	.	.	PUNCT
fsr-3796	227	1	his	his	PRON
fsr-3796	227	2	results	result	NOUN
fsr-3796	227	3	may	may	AUX
fsr-3796	227	4	have	have	AUX
fsr-3796	227	5	been	be	AUX
fsr-3796	227	6	influenced	influence	VERB
fsr-3796	227	7	by	by	ADP
fsr-3796	227	8	his	his	PRON
fsr-3796	227	9	neglect	neglect	NOUN
fsr-3796	227	10	of	of	ADP
fsr-3796	227	11	the	the	DET
fsr-3796	227	12	frm	frm	PROPN
fsr-3796	227	13	refinancing	refinancing	NOUN
fsr-3796	227	14	option	option	NOUN
fsr-3796	227	15	.	.	PUNCT
fsr-3796	228	1	when	when	SCONJ
fsr-3796	228	2	rates	rate	NOUN
fsr-3796	228	3	are	be	AUX
fsr-3796	228	4	relatively	relatively	ADV
fsr-3796	228	5	high	high	ADJ
fsr-3796	228	6	,	,	PUNCT
fsr-3796	228	7	it	it	PRON
fsr-3796	228	8	seems	seem	VERB
fsr-3796	228	9	that	that	SCONJ
fsr-3796	228	10	borrowers	borrower	NOUN
fsr-3796	228	11	still	still	ADV
fsr-3796	228	12	would	would	AUX
fsr-3796	228	13	be	be	AUX
fsr-3796	228	14	better	well	ADV
fsr-3796	228	15	served	serve	VERB
fsr-3796	228	16	by	by	ADP
fsr-3796	228	17	focusing	focus	VERB
fsr-3796	228	18	on	on	ADP
fsr-3796	228	19	rate	rate	NOUN
fsr-3796	228	20	differentials	differential	NOUN
fsr-3796	228	21	.	.	PUNCT
fsr-3796	229	1	figure	figure	VERB
fsr-3796	229	2	10	10	NUM
fsr-3796	229	3	shows	show	VERB
fsr-3796	229	4	data	datum	NOUN
fsr-3796	229	5	from	from	ADP
fsr-3796	229	6	the	the	DET
fsr-3796	229	7	federal	federal	PROPN
fsr-3796	229	8	housing	housing	PROPN
fsr-3796	229	9	board	board	PROPN
fsr-3796	229	10	’s	’s	PART
fsr-3796	229	11	monthly	monthly	ADJ
fsr-3796	229	12	survey	survey	NOUN
fsr-3796	229	13	of	of	ADP
fsr-3796	229	14	major	major	ADJ
fsr-3796	229	15	lenders	lender	NOUN
fsr-3796	229	16	.	.	PUNCT
fsr-3796	230	1	both	both	CCONJ
fsr-3796	230	2	the	the	DET
fsr-3796	230	3	average	average	ADJ
fsr-3796	230	4	frm	frm	PROPN
fsr-3796	230	5	rate	rate	NOUN
fsr-3796	230	6	and	and	CCONJ
fsr-3796	230	7	the	the	DET
fsr-3796	230	8	average	average	ADJ
fsr-3796	230	9	initial	initial	ADJ
fsr-3796	230	10	rate	rate	NOUN
fsr-3796	230	11	differential	differential	NOUN
fsr-3796	230	12	are	be	AUX
fsr-3796	230	13	depicted	depict	VERB
fsr-3796	230	14	.	.	PUNCT
fsr-3796	231	1	the	the	DET
fsr-3796	231	2	differential	differential	NOUN
fsr-3796	231	3	is	be	AUX
fsr-3796	231	4	not	not	PART
fsr-3796	231	5	consistently	consistently	ADV
fsr-3796	231	6	small	small	ADJ
fsr-3796	231	7	when	when	SCONJ
fsr-3796	231	8	the	the	DET
fsr-3796	231	9	frm	frm	PROPN
fsr-3796	231	10	rate	rate	NOUN
fsr-3796	231	11	is	be	AUX
fsr-3796	231	12	high	high	ADJ
fsr-3796	231	13	or	or	CCONJ
fsr-3796	231	14	vice	vice	NOUN
fsr-3796	231	15	versa	versa	ADV
fsr-3796	231	16	.	.	PUNCT
fsr-3796	232	1	thus	thus	ADV
fsr-3796	232	2	,	,	PUNCT
fsr-3796	232	3	we	we	PRON
fsr-3796	232	4	can	can	AUX
fsr-3796	232	5	not	not	PART
fsr-3796	232	6	generalize	generalize	VERB
fsr-3796	232	7	our	our	PRON
fsr-3796	232	8	results	result	NOUN
fsr-3796	232	9	to	to	PART
fsr-3796	232	10	suggest	suggest	VERB
fsr-3796	232	11	the	the	DET
fsr-3796	232	12	frm	frm	PROPN
fsr-3796	232	13	is	be	AUX
fsr-3796	232	14	always	always	ADV
fsr-3796	232	15	preferred	prefer	VERB
fsr-3796	232	16	when	when	SCONJ
fsr-3796	232	17	rates	rate	NOUN
fsr-3796	232	18	are	be	AUX
fsr-3796	232	19	high	high	ADJ
fsr-3796	232	20	.	.	PUNCT
fsr-3796	233	1	in	in	ADP
fsr-3796	233	2	addition	addition	NOUN
fsr-3796	233	3	,	,	PUNCT
fsr-3796	233	4	the	the	DET
fsr-3796	233	5	teaser	teaser	NOUN
fsr-3796	233	6	discount	discount	NOUN
fsr-3796	233	7	is	be	AUX
fsr-3796	233	8	part	part	NOUN
fsr-3796	233	9	of	of	ADP
fsr-3796	233	10	the	the	DET
fsr-3796	233	11	differential	differential	NOUN
fsr-3796	233	12	and	and	CCONJ
fsr-3796	233	13	tends	tend	VERB
fsr-3796	233	14	to	to	PART
fsr-3796	233	15	mask	mask	VERB
fsr-3796	233	16	the	the	DET
fsr-3796	233	17	difference	difference	NOUN
fsr-3796	233	18	between	between	ADP
fsr-3796	233	19	the	the	DET
fsr-3796	233	20	fixed	fix	VERB
fsr-3796	233	21	rate	rate	NOUN
fsr-3796	233	22	and	and	CCONJ
fsr-3796	233	23	the	the	DET
fsr-3796	233	24	initial	initial	ADJ
fsr-3796	233	25	composite	composite	ADJ
fsr-3796	233	26	rate	rate	NOUN
fsr-3796	233	27	.	.	PUNCT
fsr-3796	234	1	when	when	SCONJ
fsr-3796	234	2	frm	frm	PROPN
fsr-3796	234	3	rates	rate	NOUN
fsr-3796	234	4	are	be	AUX
fsr-3796	234	5	relatively	relatively	ADV
fsr-3796	234	6	low	low	ADJ
fsr-3796	234	7	,	,	PUNCT
fsr-3796	234	8	borrowers	borrower	NOUN
fsr-3796	234	9	may	may	AUX
fsr-3796	234	10	see	see	VERB
fsr-3796	234	11	the	the	DET
fsr-3796	234	12	frm	frm	PROPN
fsr-3796	234	13	as	as	ADP
fsr-3796	234	14	the	the	DET
fsr-3796	234	15	most	most	ADV
fsr-3796	234	16	attractive	attractive	ADJ
fsr-3796	234	17	alternative	alternative	NOUN
fsr-3796	234	18	.	.	PUNCT
fsr-3796	235	1	however	however	ADV
fsr-3796	235	2	,	,	PUNCT
fsr-3796	235	3	our	our	PRON
fsr-3796	235	4	results	result	NOUN
fsr-3796	235	5	suggest	suggest	VERB
fsr-3796	235	6	that	that	SCONJ
fsr-3796	235	7	a	a	DET
fsr-3796	235	8	larger	large	ADJ
fsr-3796	235	9	initial	initial	ADJ
fsr-3796	235	10	spread	spread	NOUN
fsr-3796	235	11	between	between	ADP
fsr-3796	235	12	an	an	DET
fsr-3796	235	13	arm	arm	NOUN
fsr-3796	235	14	and	and	CCONJ
fsr-3796	235	15	frm	frm	PROPN
fsr-3796	235	16	in	in	ADP
fsr-3796	235	17	these	these	DET
fsr-3796	235	18	circumstances	circumstance	NOUN
fsr-3796	235	19	can	can	AUX
fsr-3796	235	20	result	result	VERB
fsr-3796	235	21	in	in	ADP
fsr-3796	235	22	an	an	DET
fsr-3796	235	23	expected	expect	VERB
fsr-3796	235	24	cost	cost	NOUN
fsr-3796	235	25	advantage	advantage	NOUN
fsr-3796	235	26	that	that	PRON
fsr-3796	235	27	extends	extend	VERB
fsr-3796	235	28	for	for	ADP
fsr-3796	235	29	quite	quite	DET
fsr-3796	235	30	a	a	DET
fsr-3796	235	31	few	few	ADJ
fsr-3796	235	32	years	year	NOUN
fsr-3796	235	33	.	.	PUNCT
fsr-3796	236	1	the	the	DET
fsr-3796	236	2	payment	payment	NOUN
fsr-3796	236	3	advantage	advantage	NOUN
fsr-3796	236	4	may	may	AUX
fsr-3796	236	5	extend	extend	VERB
fsr-3796	236	6	for	for	ADP
fsr-3796	236	7	quite	quite	DET
fsr-3796	236	8	a	a	DET
fsr-3796	236	9	while	while	NOUN
fsr-3796	236	10	as	as	ADV
fsr-3796	236	11	well	well	ADV
fsr-3796	236	12	.	.	PUNCT
fsr-3796	237	1	for	for	ADP
fsr-3796	237	2	the	the	DET
fsr-3796	237	3	loans	loan	NOUN
fsr-3796	237	4	compared	compare	VERB
fsr-3796	237	5	here	here	ADV
fsr-3796	237	6	,	,	PUNCT
fsr-3796	237	7	borrowers	borrower	NOUN
fsr-3796	237	8	whose	whose	DET
fsr-3796	237	9	expected	expect	VERB
fsr-3796	237	10	mortgage	mortgage	NOUN
fsr-3796	237	11	life	life	NOUN
fsr-3796	237	12	was	be	AUX
fsr-3796	237	13	relatively	relatively	ADV
fsr-3796	237	14	short	short	ADJ
fsr-3796	237	15	should	should	AUX
fsr-3796	237	16	have	have	AUX
fsr-3796	237	17	found	find	VERB
fsr-3796	237	18	the	the	DET
fsr-3796	237	19	arm	arm	NOUN
fsr-3796	237	20	terms	term	NOUN
fsr-3796	237	21	advantageous	advantageous	ADJ
fsr-3796	237	22	.	.	PUNCT
fsr-3796	238	1	these	these	DET
fsr-3796	238	2	results	result	NOUN
fsr-3796	238	3	are	be	AUX
fsr-3796	238	4	consistent	consistent	ADJ
fsr-3796	238	5	with	with	ADP
fsr-3796	238	6	the	the	DET
fsr-3796	238	7	findings	finding	NOUN
fsr-3796	238	8	of	of	ADP
fsr-3796	238	9	spre	spre	PROPN
fsr-3796	238	10	cher	cher	PROPN
fsr-3796	238	11	and	and	CCONJ
fsr-3796	238	12	willman	willman	NOUN
fsr-3796	238	13	(	(	PUNCT
fsr-3796	238	14	1993	1993	NUM
fsr-3796	238	15	)	)	PUNCT
fsr-3796	238	16	who	who	PRON
fsr-3796	238	17	determined	determine	VERB
fsr-3796	238	18	that	that	SCONJ
fsr-3796	238	19	arm	arm	NOUN
fsr-3796	238	20	borrowers	borrower	NOUN
fsr-3796	238	21	had	have	VERB
fsr-3796	238	22	an	an	DET
fsr-3796	238	23	interest	interest	NOUN
fsr-3796	238	24	rate	rate	NOUN
fsr-3796	238	25	advan	advan	NOUN
fsr-3796	238	26	fixed	fix	VERB
fsr-3796	238	27	and	and	CCONJ
fsr-3796	238	28	adjustable	adjustable	ADJ
fsr-3796	238	29	rate	rate	NOUN
fsr-3796	238	30	mortgages	mortgage	NOUN
fsr-3796	238	31	115	115	NUM
fsr-3796	238	32	14,000	14,000	NUM
fsr-3796	238	33	8,000	8,000	NUM
fsr-3796	238	34	!	!	PUNCT
fsr-3796	239	1	i	i	PRON
fsr-3796	239	2	3	3	NUM
fsr-3796	239	3	n	n	NUM
fsr-3796	239	4	8,000	8,000	NUM
fsr-3796	239	5	arm	arm	NOUN
fsr-3796	239	6	payment	payment	NOUN
fsr-3796	239	7	i	i	PRON
fsr-3796	239	8	!	!	PUNCT
fsr-3796	240	1	frm	frm	PROPN
fsr-3796	240	2	payment	payment	NOUN
fsr-3796	240	3	figure	figure	NOUN
fsr-3796	240	4	9	9	NUM
fsr-3796	240	5	.	.	PUNCT
fsr-3796	240	6	high	high	ADJ
fsr-3796	240	7	interest	interest	NOUN
fsr-3796	240	8	rate	rate	NOUN
fsr-3796	240	9	environment	environment	NOUN
fsr-3796	240	10	assuming	assume	VERB
fsr-3796	240	11	refinancing	refinance	VERB
fsr-3796	240	12	option	option	NOUN
fsr-3796	240	13	-	-	PUNCT
fsr-3796	240	14	expected	expect	VERB
fsr-3796	240	15	annual	annual	ADJ
fsr-3796	240	16	mortgage	mortgage	NOUN
fsr-3796	240	17	payment	payment	NOUN
fsr-3796	240	18	.	.	PUNCT
fsr-3796	241	1	the	the	DET
fsr-3796	241	2	solid	solid	ADJ
fsr-3796	241	3	line	line	NOUN
fsr-3796	241	4	represents	represent	VERB
fsr-3796	241	5	the	the	DET
fsr-3796	241	6	expected	expect	VERB
fsr-3796	241	7	payment	payment	NOUN
fsr-3796	241	8	for	for	ADP
fsr-3796	241	9	the	the	DET
fsr-3796	241	10	arm	arm	NOUN
fsr-3796	241	11	.	.	PUNCT
fsr-3796	242	1	the	the	DET
fsr-3796	242	2	dashed	dash	VERB
fsr-3796	242	3	line	line	NOUN
fsr-3796	242	4	represents	represent	VERB
fsr-3796	242	5	the	the	DET
fsr-3796	242	6	expected	expect	VERB
fsr-3796	242	7	frm	frm	PROPN
fsr-3796	242	8	payment	payment	NOUN
fsr-3796	242	9	.	.	PUNCT
fsr-3796	243	1	it	it	PRON
fsr-3796	243	2	declines	decline	VERB
fsr-3796	243	3	because	because	SCONJ
fsr-3796	243	4	refinancing	refinance	VERB
fsr-3796	243	5	of	of	ADP
fsr-3796	243	6	the	the	DET
fsr-3796	243	7	frm	frm	PROPN
fsr-3796	243	8	to	to	ADP
fsr-3796	243	9	a	a	DET
fsr-3796	243	10	lower	low	ADJ
fsr-3796	243	11	rate	rate	NOUN
fsr-3796	243	12	is	be	AUX
fsr-3796	243	13	likely	likely	ADJ
fsr-3796	243	14	.	.	PUNCT
fsr-3796	244	1	tage	tage	NOUN
fsr-3796	244	2	over	over	ADP
fsr-3796	244	3	frm	frm	PROPN
fsr-3796	244	4	borrowers	borrower	NOUN
fsr-3796	244	5	during	during	ADP
fsr-3796	244	6	a	a	DET
fsr-3796	244	7	four	four	NUM
fsr-3796	244	8	year	year	NOUN
fsr-3796	244	9	period	period	NOUN
fsr-3796	244	10	in	in	ADP
fsr-3796	244	11	which	which	PRON
fsr-3796	244	12	rates	rate	NOUN
fsr-3796	244	13	rose	rise	VERB
fsr-3796	244	14	.	.	PUNCT
fsr-3796	245	1	borrowers	borrower	NOUN
fsr-3796	245	2	must	must	AUX
fsr-3796	245	3	weigh	weigh	VERB
fsr-3796	245	4	these	these	DET
fsr-3796	245	5	cost	cost	NOUN
fsr-3796	245	6	advantages	advantage	NOUN
fsr-3796	245	7	against	against	ADP
fsr-3796	245	8	the	the	DET
fsr-3796	245	9	increased	increase	VERB
fsr-3796	245	10	risk	risk	NOUN
fsr-3796	245	11	associated	associate	VERB
fsr-3796	245	12	with	with	ADP
fsr-3796	245	13	the	the	DET
fsr-3796	245	14	arm	arm	NOUN
fsr-3796	245	15	.	.	PUNCT
fsr-3796	246	1	to	to	PART
fsr-3796	246	2	summarize	summarize	VERB
fsr-3796	246	3	,	,	PUNCT
fsr-3796	246	4	although	although	SCONJ
fsr-3796	246	5	analysis	analysis	NOUN
fsr-3796	246	6	yields	yield	VERB
fsr-3796	246	7	no	no	DET
fsr-3796	246	8	hard	hard	ADJ
fsr-3796	246	9	and	and	CCONJ
fsr-3796	246	10	fast	fast	ADJ
fsr-3796	246	11	rules	rule	NOUN
fsr-3796	246	12	about	about	ADP
fsr-3796	246	13	when	when	SCONJ
fsr-3796	246	14	to	to	PART
fsr-3796	246	15	select	select	VERB
fsr-3796	246	16	an	an	DET
fsr-3796	246	17	arm	arm	NOUN
fsr-3796	246	18	rather	rather	ADV
fsr-3796	246	19	than	than	ADP
fsr-3796	246	20	a	a	DET
fsr-3796	246	21	frm	frm	PROPN
fsr-3796	246	22	,	,	PUNCT
fsr-3796	246	23	larger	large	ADJ
fsr-3796	246	24	initial	initial	ADJ
fsr-3796	246	25	rate	rate	NOUN
fsr-3796	246	26	differentials	differential	NOUN
fsr-3796	246	27	should	should	AUX
fsr-3796	246	28	cause	cause	VERB
fsr-3796	246	29	borrowers	borrower	NOUN
fsr-3796	246	30	to	to	PART
fsr-3796	246	31	favor	favor	VERB
fsr-3796	246	32	the	the	DET
fsr-3796	246	33	arm	arm	NOUN
fsr-3796	246	34	,	,	PUNCT
fsr-3796	246	35	particularly	particularly	ADV
fsr-3796	246	36	if	if	SCONJ
fsr-3796	246	37	the	the	DET
fsr-3796	246	38	differential	differential	NOUN
fsr-3796	246	39	does	do	AUX
fsr-3796	246	40	not	not	PART
fsr-3796	246	41	merely	merely	ADV
fsr-3796	246	42	reflect	reflect	VERB
fsr-3796	246	43	the	the	DET
fsr-3796	246	44	teaser	teaser	NOUN
fsr-3796	246	45	discount	discount	NOUN
fsr-3796	246	46	.	.	PUNCT
fsr-3796	247	1	borrowers	borrower	NOUN
fsr-3796	247	2	should	should	AUX
fsr-3796	247	3	attempt	attempt	VERB
fsr-3796	247	4	to	to	PART
fsr-3796	247	5	identify	identify	VERB
fsr-3796	247	6	the	the	DET
fsr-3796	247	7	size	size	NOUN
fsr-3796	247	8	of	of	ADP
fsr-3796	247	9	the	the	DET
fsr-3796	247	10	teaser	teaser	NOUN
fsr-3796	247	11	to	to	PART
fsr-3796	247	12	avoid	avoid	VERB
fsr-3796	247	13	being	be	AUX
fsr-3796	247	14	deceived	deceive	VERB
fsr-3796	247	15	by	by	ADP
fsr-3796	247	16	an	an	DET
fsr-3796	247	17	attractive	attractive	ADJ
fsr-3796	247	18	rate	rate	NOUN
fsr-3796	247	19	differential	differential	NOUN
fsr-3796	247	20	that	that	PRON
fsr-3796	247	21	will	will	AUX
fsr-3796	247	22	not	not	PART
fsr-3796	247	23	last	last	VERB
fsr-3796	247	24	past	past	ADP
fsr-3796	247	25	the	the	DET
fsr-3796	247	26	first	first	ADJ
fsr-3796	247	27	year	year	NOUN
fsr-3796	247	28	.	.	PUNCT
fsr-3796	248	1	borrowers	borrower	NOUN
fsr-3796	248	2	who	who	PRON
fsr-3796	248	3	intend	intend	VERB
fsr-3796	248	4	a	a	DET
fsr-3796	248	5	short	short	ADJ
fsr-3796	248	6	mortgage	mortgage	NOUN
fsr-3796	248	7	life	life	NOUN
fsr-3796	248	8	should	should	AUX
fsr-3796	248	9	also	also	ADV
fsr-3796	248	10	tend	tend	VERB
fsr-3796	248	11	to	to	PART
fsr-3796	248	12	favor	favor	VERB
fsr-3796	248	13	arms	arm	NOUN
fsr-3796	248	14	.	.	PUNCT
fsr-3796	249	1	arms	arm	NOUN
fsr-3796	249	2	tend	tend	VERB
fsr-3796	249	3	to	to	PART
fsr-3796	249	4	exhibit	exhibit	VERB
fsr-3796	249	5	expected	expect	VERB
fsr-3796	249	6	cost	cost	NOUN
fsr-3796	249	7	and	and	CCONJ
fsr-3796	249	8	payment	payment	NOUN
fsr-3796	249	9	advan	advan	NOUN
fsr-3796	249	10	tages	tage	NOUN
fsr-3796	249	11	for	for	ADP
fsr-3796	249	12	short	short	ADJ
fsr-3796	249	13	lived	live	VERB
fsr-3796	249	14	mortgages	mortgage	NOUN
fsr-3796	249	15	.	.	PUNCT
fsr-3796	250	1	we	we	PRON
fsr-3796	250	2	suggest	suggest	VERB
fsr-3796	250	3	borrowers	borrower	NOUN
fsr-3796	250	4	probably	probably	ADV
fsr-3796	250	5	should	should	AUX
fsr-3796	250	6	avoid	avoid	VERB
fsr-3796	250	7	selecting	select	VERB
fsr-3796	250	8	a	a	DET
fsr-3796	250	9	mortgage	mortgage	NOUN
fsr-3796	250	10	based	base	VERB
fsr-3796	250	11	on	on	ADP
fsr-3796	250	12	the	the	DET
fsr-3796	250	13	level	level	NOUN
fsr-3796	250	14	of	of	ADP
fsr-3796	250	15	fixed	fix	VERB
fsr-3796	250	16	rates	rate	NOUN
fsr-3796	250	17	alone	alone	ADV
fsr-3796	250	18	.	.	PUNCT
fsr-3796	251	1	in	in	ADP
fsr-3796	251	2	the	the	DET
fsr-3796	251	3	simulations	simulation	NOUN
fsr-3796	251	4	reported	report	VERB
fsr-3796	251	5	here	here	ADV
fsr-3796	251	6	,	,	PUNCT
fsr-3796	251	7	the	the	DET
fsr-3796	251	8	initial	initial	ADJ
fsr-3796	251	9	rate	rate	NOUN
fsr-3796	251	10	differenti	differenti	VERB
fsr-3796	251	11	~	~	NOUN
fsr-3796	251	12	s	s	PART
fsr-3796	251	13	and	and	CCONJ
fsr-3796	251	14	the	the	DET
fsr-3796	251	15	teaser	teaser	NOUN
fsr-3796	251	16	discount	discount	NOUN
fsr-3796	251	17	were	be	AUX
fsr-3796	251	18	more	more	ADV
fsr-3796	251	19	impo	impo	ADJ
fsr-3796	251	20	~	~	SYM
fsr-3796	251	21	ant	ant	ADJ
fsr-3796	251	22	factors	factor	NOUN
fsr-3796	251	23	in	in	ADP
fsr-3796	251	24	dete	dete	ADJ
fsr-3796	251	25	~	~	PUNCT
fsr-3796	251	26	ining	ine	VERB
fsr-3796	251	27	the	the	DET
fsr-3796	251	28	relative	relative	ADJ
fsr-3796	251	29	cost	cost	NOUN
fsr-3796	251	30	.	.	PUNCT
fsr-3796	252	1	the	the	DET
fsr-3796	252	2	opportunity	opportunity	NOUN
fsr-3796	252	3	to	to	PART
fsr-3796	252	4	refinance	refinance	VERB
fsr-3796	252	5	a	a	DET
fsr-3796	252	6	frm	frm	PROPN
fsr-3796	252	7	significantly	significantly	ADV
fsr-3796	252	8	alters	alter	VERB
fsr-3796	252	9	its	its	PRON
fsr-3796	252	10	expected	expect	VERB
fsr-3796	252	11	cost	cost	NOUN
fsr-3796	252	12	and	and	CCONJ
fsr-3796	252	13	relative	relative	ADJ
fsr-3796	252	14	attractiveness	attractiveness	NOUN
fsr-3796	252	15	compared	compare	VERB
fsr-3796	252	16	to	to	ADP
fsr-3796	252	17	arms	arm	NOUN
fsr-3796	252	18	.	.	PUNCT
fsr-3796	253	1	borrowers	borrower	NOUN
fsr-3796	253	2	ought	ought	AUX
fsr-3796	253	3	to	to	PART
fsr-3796	253	4	keep	keep	VERB
fsr-3796	253	5	this	this	DET
fsr-3796	253	6	option	option	NOUN
fsr-3796	253	7	in	in	ADP
fsr-3796	253	8	mind	mind	NOUN
fsr-3796	253	9	.	.	PUNCT
fsr-3796	254	1	116	116	NUM
fsr-3796	254	2	financial	financial	ADJ
fsr-3796	254	3	services	service	NOUN
fsr-3796	254	4	review	review	VERB
fsr-3796	254	5	5(2	5(2	NUM
fsr-3796	254	6	)	)	PUNCT
fsr-3796	254	7	1996	1996	NUM
fsr-3796	254	8	q	q	NOUN
fsr-3796	255	1	q	q	X
fsr-3796	255	2	t$	t$	INTJ
fsr-3796	255	3	q	q	PROPN
fsr-3796	255	4	$	$	SYM
fsr-3796	255	5	8	8	NUM
fsr-3796	255	6	6	6	NUM
fsr-3796	255	7	q	q	NOUN
fsr-3796	255	8	q	q	X
fsr-3796	255	9	zfi	zfi	NUM
fsr-3796	255	10	8	8	NUM
fsr-3796	255	11	iz	iz	ADJ
fsr-3796	255	12	is	be	AUX
fsr-3796	255	13	p	p	PROPN
fsr-3796	255	14	p	p	NOUN
fsr-3796	255	15	c	c	PROPN
fsr-3796	255	16	s	s	NOUN
fsr-3796	255	17	5	5	NUM
fsr-3796	255	18	5	5	NUM
fsr-3796	255	19	5	5	NUM
fsr-3796	255	20	5	5	NUM
fsr-3796	255	21	%	%	NOUN
fsr-3796	255	22	z	z	NOUN
fsr-3796	255	23	$	$	SYM
fsr-3796	255	24	p	p	NOUN
fsr-3796	255	25	6	6	NUM
fsr-3796	255	26	p	p	NOUN
fsr-3796	255	27	p	p	X
fsr-3796	256	1	i	i	PRON
fsr-3796	256	2	fiied	fiie	VERB
fsr-3796	256	3	rate	rate	NOUN
fsr-3796	256	4	-(fixed	-(fixed	ADJ
fsr-3796	256	5	rate	rate	NOUN
fsr-3796	256	6	adjustable	adjustable	ADJ
fsr-3796	256	7	rate	rate	NOUN
fsr-3796	256	8	)	)	PUNCT
fsr-3796	256	9	]	]	PUNCT
fsr-3796	256	10	figure	figure	NOUN
fsr-3796	256	11	10	10	NUM
fsr-3796	256	12	.	.	PUNCT
fsr-3796	257	1	average	average	ADJ
fsr-3796	257	2	frm	frm	PROPN
fsr-3796	257	3	rates	rate	NOUN
fsr-3796	257	4	as	as	SCONJ
fsr-3796	257	5	reported	report	VERB
fsr-3796	257	6	by	by	ADP
fsr-3796	257	7	the	the	DET
fsr-3796	257	8	federal	federal	ADJ
fsr-3796	257	9	housing	housing	PROPN
fsr-3796	257	10	finance	finance	PROPN
fsr-3796	257	11	board	board	NOUN
fsr-3796	257	12	from	from	ADP
fsr-3796	257	13	its	its	PRON
fsr-3796	257	14	monthly	monthly	ADJ
fsr-3796	257	15	national	national	ADJ
fsr-3796	257	16	survey	survey	NOUN
fsr-3796	257	17	of	of	ADP
fsr-3796	257	18	major	major	ADJ
fsr-3796	257	19	lenders	lender	NOUN
fsr-3796	257	20	.	.	PUNCT
fsr-3796	258	1	also	also	ADV
fsr-3796	258	2	shown	show	VERB
fsr-3796	258	3	is	be	AUX
fsr-3796	258	4	the	the	DET
fsr-3796	258	5	average	average	ADJ
fsr-3796	258	6	initial	initial	ADJ
fsr-3796	258	7	rate	rate	NOUN
fsr-3796	258	8	differential	differential	NOUN
fsr-3796	258	9	between	between	ADP
fsr-3796	258	10	frms	frm	NOUN
fsr-3796	258	11	and	and	CCONJ
fsr-3796	258	12	arms	arm	NOUN
fsr-3796	258	13	from	from	ADP
fsr-3796	258	14	the	the	DET
fsr-3796	258	15	same	same	ADJ
fsr-3796	258	16	source	source	NOUN
fsr-3796	258	17	.	.	PUNCT
fsr-3796	259	1	although	although	SCONJ
fsr-3796	259	2	we	we	PRON
fsr-3796	259	3	can	can	AUX
fsr-3796	259	4	make	make	VERB
fsr-3796	259	5	some	some	DET
fsr-3796	259	6	statements	statement	NOUN
fsr-3796	259	7	regarding	regard	VERB
fsr-3796	259	8	each	each	PRON
fsr-3796	259	9	of	of	ADP
fsr-3796	259	10	these	these	DET
fsr-3796	259	11	factors	factor	NOUN
fsr-3796	259	12	and	and	CCONJ
fsr-3796	259	13	their	their	PRON
fsr-3796	259	14	influence	influence	NOUN
fsr-3796	259	15	on	on	ADP
fsr-3796	259	16	the	the	DET
fsr-3796	259	17	choice	choice	NOUN
fsr-3796	259	18	,	,	PUNCT
fsr-3796	259	19	the	the	DET
fsr-3796	259	20	value	value	NOUN
fsr-3796	259	21	of	of	ADP
fsr-3796	259	22	the	the	DET
fsr-3796	259	23	simulation	simulation	NOUN
fsr-3796	259	24	approach	approach	NOUN
fsr-3796	259	25	is	be	AUX
fsr-3796	259	26	that	that	SCONJ
fsr-3796	259	27	it	it	PRON
fsr-3796	259	28	considers	consider	VERB
fsr-3796	259	29	these	these	DET
fsr-3796	259	30	aspects	aspect	NOUN
fsr-3796	259	31	simul	simul	PROPN
fsr-3796	259	32	taneously	taneously	ADV
fsr-3796	259	33	and	and	CCONJ
fsr-3796	259	34	provides	provide	VERB
fsr-3796	259	35	an	an	DET
fsr-3796	259	36	overview	overview	NOUN
fsr-3796	259	37	of	of	ADP
fsr-3796	259	38	the	the	DET
fsr-3796	259	39	choice	choice	NOUN
fsr-3796	259	40	.	.	PUNCT
fsr-3796	260	1	comparisons	comparison	NOUN
fsr-3796	260	2	ought	ought	AUX
fsr-3796	260	3	to	to	PART
fsr-3796	260	4	be	be	AUX
fsr-3796	260	5	done	do	VERB
fsr-3796	260	6	for	for	ADP
fsr-3796	260	7	each	each	DET
fsr-3796	260	8	pair	pair	NOUN
fsr-3796	260	9	of	of	ADP
fsr-3796	260	10	competing	compete	VERB
fsr-3796	260	11	loan	loan	NOUN
fsr-3796	260	12	terms	term	NOUN
fsr-3796	260	13	.	.	PUNCT
fsr-3796	261	1	a	a	DET
fsr-3796	261	2	borrower	borrower	NOUN
fsr-3796	261	3	who	who	PRON
fsr-3796	261	4	can	can	AUX
fsr-3796	261	5	select	select	VERB
fsr-3796	261	6	an	an	DET
fsr-3796	261	7	appropriate	appropriate	ADJ
fsr-3796	261	8	discount	discount	NOUN
fsr-3796	261	9	rate	rate	NOUN
fsr-3796	261	10	,	,	PUNCT
fsr-3796	261	11	esti	esti	PROPN
fsr-3796	261	12	mate	mate	VERB
fsr-3796	261	13	the	the	DET
fsr-3796	261	14	mortgage	mortgage	NOUN
fsr-3796	261	15	life	life	NOUN
fsr-3796	261	16	,	,	PUNCT
fsr-3796	261	17	set	set	VERB
fsr-3796	261	18	a	a	DET
fsr-3796	261	19	tolerance	tolerance	NOUN
fsr-3796	261	20	for	for	ADP
fsr-3796	261	21	increases	increase	NOUN
fsr-3796	261	22	in	in	ADP
fsr-3796	261	23	payments	payment	NOUN
fsr-3796	261	24	,	,	PUNCT
fsr-3796	261	25	and	and	CCONJ
fsr-3796	261	26	determine	determine	VERB
fsr-3796	261	27	his	his	PRON
fsr-3796	261	28	own	own	ADJ
fsr-3796	261	29	risk	risk	NOUN
fsr-3796	261	30	aversion	aversion	NOUN
fsr-3796	261	31	level	level	NOUN
fsr-3796	261	32	ought	ought	AUX
fsr-3796	261	33	to	to	PART
fsr-3796	261	34	be	be	AUX
fsr-3796	261	35	able	able	ADJ
fsr-3796	261	36	to	to	PART
fsr-3796	261	37	make	make	VERB
fsr-3796	261	38	a	a	DET
fsr-3796	261	39	better	well	ADJ
fsr-3796	261	40	decision	decision	NOUN
fsr-3796	261	41	using	use	VERB
fsr-3796	261	42	simulation	simulation	NOUN
fsr-3796	261	43	results	result	NOUN
fsr-3796	261	44	as	as	SCONJ
fsr-3796	261	45	described	describe	VERB
fsr-3796	261	46	in	in	ADP
fsr-3796	261	47	this	this	DET
fsr-3796	261	48	study	study	NOUN
fsr-3796	261	49	.	.	PUNCT
fsr-3796	262	1	though	though	SCONJ
fsr-3796	262	2	this	this	DET
fsr-3796	262	3	study	study	NOUN
fsr-3796	262	4	has	have	AUX
fsr-3796	262	5	compared	compare	VERB
fsr-3796	262	6	just	just	ADV
fsr-3796	262	7	two	two	NUM
fsr-3796	262	8	types	type	NOUN
fsr-3796	262	9	of	of	ADP
fsr-3796	262	10	mortgages	mortgage	NOUN
fsr-3796	262	11	,	,	PUNCT
fsr-3796	262	12	the	the	DET
fsr-3796	262	13	thirty	thirty	NUM
fsr-3796	262	14	year	year	NOUN
fsr-3796	262	15	frm	frm	PROPN
fsr-3796	262	16	and	and	CCONJ
fsr-3796	262	17	the	the	DET
fsr-3796	262	18	one	one	NUM
fsr-3796	262	19	year	year	NOUN
fsr-3796	262	20	arm	arm	NOUN
fsr-3796	262	21	,	,	PUNCT
fsr-3796	262	22	the	the	DET
fsr-3796	262	23	technique	technique	NOUN
fsr-3796	262	24	can	can	AUX
fsr-3796	262	25	easily	easily	ADV
fsr-3796	262	26	be	be	AUX
fsr-3796	262	27	extended	extend	VERB
fsr-3796	262	28	to	to	ADP
fsr-3796	262	29	the	the	DET
fsr-3796	262	30	more	more	ADV
fsr-3796	262	31	exotic	exotic	ADJ
fsr-3796	262	32	types	type	NOUN
fsr-3796	262	33	of	of	ADP
fsr-3796	262	34	mort	mort	PROPN
fsr-3796	262	35	gages	gage	NOUN
fsr-3796	262	36	.	.	PUNCT
fsr-3796	263	1	arms	arm	NOUN
fsr-3796	263	2	that	that	PRON
fsr-3796	263	3	have	have	VERB
fsr-3796	263	4	a	a	DET
fsr-3796	263	5	fixed	fix	VERB
fsr-3796	263	6	rate	rate	NOUN
fsr-3796	263	7	for	for	ADP
fsr-3796	263	8	the	the	DET
fsr-3796	263	9	first	first	ADJ
fsr-3796	263	10	five	five	NUM
fsr-3796	263	11	or	or	CCONJ
fsr-3796	263	12	seven	seven	NUM
fsr-3796	263	13	years	year	NOUN
fsr-3796	263	14	and	and	CCONJ
fsr-3796	263	15	adjust	adjust	VERB
fsr-3796	263	16	annually	annually	ADV
fsr-3796	263	17	after	after	ADP
fsr-3796	263	18	that	that	PRON
fsr-3796	263	19	are	be	AUX
fsr-3796	263	20	becoming	become	VERB
fsr-3796	263	21	more	more	ADV
fsr-3796	263	22	popular	popular	ADJ
fsr-3796	263	23	.	.	PUNCT
fsr-3796	264	1	other	other	ADJ
fsr-3796	264	2	arms	arm	NOUN
fsr-3796	264	3	adjust	adjust	VERB
fsr-3796	264	4	their	their	PRON
fsr-3796	264	5	rates	rate	NOUN
fsr-3796	264	6	every	every	DET
fsr-3796	264	7	six	six	NUM
fsr-3796	264	8	months	month	NOUN
fsr-3796	264	9	or	or	CCONJ
fsr-3796	264	10	every	every	DET
fsr-3796	264	11	three	three	NUM
fsr-3796	264	12	years	year	NOUN
fsr-3796	264	13	.	.	PUNCT
fsr-3796	265	1	the	the	DET
fsr-3796	265	2	model	model	NOUN
fsr-3796	265	3	presented	present	VERB
fsr-3796	265	4	here	here	ADV
fsr-3796	265	5	may	may	AUX
fsr-3796	265	6	be	be	AUX
fsr-3796	265	7	used	use	VERB
fsr-3796	265	8	to	to	PART
fsr-3796	265	9	compare	compare	VERB
fsr-3796	265	10	two	two	NUM
fsr-3796	265	11	mortgages	mortgage	NOUN
fsr-3796	265	12	of	of	ADP
fsr-3796	265	13	any	any	DET
fsr-3796	265	14	variety	variety	NOUN
fsr-3796	265	15	.	.	PUNCT
fsr-3796	266	1	fixed	fix	VERB
fsr-3796	266	2	and	and	CCONJ
fsr-3796	266	3	adjust&e	adjust&e	ADJ
fsr-3796	266	4	rate	rate	NOUN
fsr-3796	266	5	mortgages	mortgage	NOUN
fsr-3796	266	6	vi	vi	PROPN
fsr-3796	266	7	.	.	PUNCT
fsr-3796	266	8	conclusion	conclusion	NOUN
fsr-3796	266	9	117	117	NUM
fsr-3796	266	10	this	this	DET
fsr-3796	266	11	paper	paper	NOUN
fsr-3796	266	12	has	have	AUX
fsr-3796	266	13	presented	present	VERB
fsr-3796	266	14	and	and	CCONJ
fsr-3796	266	15	demonstrated	demonstrate	VERB
fsr-3796	266	16	a	a	DET
fsr-3796	266	17	simulation	simulation	NOUN
fsr-3796	266	18	model	model	NOUN
fsr-3796	266	19	that	that	PRON
fsr-3796	266	20	shows	show	VERB
fsr-3796	266	21	the	the	DET
fsr-3796	266	22	impact	impact	NOUN
fsr-3796	266	23	of	of	ADP
fsr-3796	266	24	future	future	ADJ
fsr-3796	266	25	interest	interest	NOUN
fsr-3796	266	26	rate	rate	NOUN
fsr-3796	266	27	movements	movement	NOUN
fsr-3796	266	28	,	,	PUNCT
fsr-3796	266	29	the	the	DET
fsr-3796	266	30	initial	initial	ADJ
fsr-3796	266	31	spread	spread	NOUN
fsr-3796	266	32	between	between	ADP
fsr-3796	266	33	the	the	DET
fsr-3796	266	34	arm	arm	NOUN
fsr-3796	266	35	and	and	CCONJ
fsr-3796	266	36	frh4	frh4	PROPN
fsr-3796	266	37	rates	rate	NOUN
fsr-3796	266	38	,	,	PUNCT
fsr-3796	266	39	the	the	DET
fsr-3796	266	40	teaser	teaser	NOUN
fsr-3796	266	41	discount	discount	NOUN
fsr-3796	266	42	,	,	PUNCT
fsr-3796	266	43	discount	discount	NOUN
fsr-3796	266	44	points	point	NOUN
fsr-3796	266	45	,	,	PUNCT
fsr-3796	266	46	refinancing	refinance	VERB
fsr-3796	266	47	costs	cost	NOUN
fsr-3796	266	48	,	,	PUNCT
fsr-3796	266	49	and	and	CCONJ
fsr-3796	266	50	the	the	DET
fsr-3796	266	51	planned	plan	VERB
fsr-3796	266	52	life	life	NOUN
fsr-3796	266	53	of	of	ADP
fsr-3796	266	54	the	the	DET
fsr-3796	266	55	mortgage	mortgage	NOUN
fsr-3796	266	56	on	on	ADP
fsr-3796	266	57	cost	cost	NOUN
fsr-3796	266	58	and	and	CCONJ
fsr-3796	266	59	payments	payment	NOUN
fsr-3796	266	60	.	.	PUNCT
fsr-3796	267	1	the	the	DET
fsr-3796	267	2	model	model	NOUN
fsr-3796	267	3	also	also	ADV
fsr-3796	267	4	provides	provide	VERB
fsr-3796	267	5	borrowers	borrower	NOUN
fsr-3796	267	6	a	a	DET
fsr-3796	267	7	clearer	clear	ADJ
fsr-3796	267	8	picture	picture	NOUN
fsr-3796	267	9	of	of	ADP
fsr-3796	267	10	the	the	DET
fsr-3796	267	11	risks	risk	NOUN
fsr-3796	267	12	involved	involve	VERB
fsr-3796	267	13	.	.	PUNCT
fsr-3796	268	1	taken	take	VERB
fsr-3796	268	2	together	together	ADV
fsr-3796	268	3	,	,	PUNCT
fsr-3796	268	4	the	the	DET
fsr-3796	268	5	simulation	simulation	NOUN
fsr-3796	268	6	results	result	NOUN
fsr-3796	268	7	would	would	AUX
fsr-3796	268	8	allow	allow	VERB
fsr-3796	268	9	borrowers	borrower	NOUN
fsr-3796	268	10	to	to	PART
fsr-3796	268	11	make	make	VERB
fsr-3796	268	12	a	a	DET
fsr-3796	268	13	more	more	ADV
fsr-3796	268	14	informed	informed	ADJ
fsr-3796	268	15	choice	choice	NOUN
fsr-3796	268	16	.	.	PUNCT
fsr-3796	269	1	typical	typical	ADJ
fsr-3796	269	2	borrowers	borrower	NOUN
fsr-3796	269	3	would	would	AUX
fsr-3796	269	4	not	not	PART
fsr-3796	269	5	have	have	VERB
fsr-3796	269	6	the	the	DET
fsr-3796	269	7	necessary	necessary	ADJ
fsr-3796	269	8	expertise	expertise	NOUN
fsr-3796	269	9	to	to	PART
fsr-3796	269	10	build	build	VERB
fsr-3796	269	11	and	and	CCONJ
fsr-3796	269	12	interpret	interpret	VERB
fsr-3796	269	13	the	the	DET
fsr-3796	269	14	simulations	simulation	NOUN
fsr-3796	269	15	reported	report	VERB
fsr-3796	269	16	here	here	ADV
fsr-3796	269	17	.	.	PUNCT
fsr-3796	270	1	financial	financial	ADJ
fsr-3796	270	2	advisors	advisor	NOUN
fsr-3796	270	3	,	,	PUNCT
fsr-3796	270	4	such	such	ADJ
fsr-3796	270	5	as	as	ADP
fsr-3796	270	6	mortgage	mortgage	NOUN
fsr-3796	270	7	brokers	broker	NOUN
fsr-3796	270	8	or	or	CCONJ
fsr-3796	270	9	thrift	thrift	NOUN
fsr-3796	270	10	officers	officer	NOUN
fsr-3796	270	11	ought	ought	AUX
fsr-3796	270	12	to	to	PART
fsr-3796	270	13	be	be	AUX
fsr-3796	270	14	able	able	ADJ
fsr-3796	270	15	to	to	PART
fsr-3796	270	16	construct	construct	VERB
fsr-3796	270	17	such	such	ADJ
fsr-3796	270	18	models	model	NOUN
fsr-3796	270	19	,	,	PUNCT
fsr-3796	270	20	however	however	ADV
fsr-3796	270	21	.	.	PUNCT
fsr-3796	271	1	simulation	simulation	NOUN
fsr-3796	271	2	outputs	output	NOUN
fsr-3796	271	3	could	could	AUX
fsr-3796	271	4	greatly	greatly	ADV
fsr-3796	271	5	aid	aid	VERB
fsr-3796	271	6	their	their	PRON
fsr-3796	271	7	clients	client	NOUN
fsr-3796	271	8	in	in	ADP
fsr-3796	271	9	comparing	compare	VERB
fsr-3796	271	10	loan	loan	NOUN
fsr-3796	271	11	terms	term	NOUN
fsr-3796	271	12	.	.	PUNCT
fsr-3796	272	1	references	reference	NOUN
fsr-3796	272	2	@risk	@risk	PROPN
fsr-3796	272	3	(	(	PUNCT
fsr-3796	272	4	computer	computer	NOUN
fsr-3796	272	5	software	software	NOUN
fsr-3796	272	6	)	)	PUNCT
fsr-3796	272	7	,	,	PUNCT
fsr-3796	272	8	version	version	NOUN
fsr-3796	272	9	3.5	3.5	NUM
fsr-3796	272	10	.	.	PUNCT
fsr-3796	273	1	(	(	PUNCT
fsr-3796	273	2	1996	1996	NUM
fsr-3796	273	3	)	)	PUNCT
fsr-3796	273	4	.	.	PUNCT
fsr-3796	274	1	palisade	palisade	ADJ
fsr-3796	274	2	corporation	corporation	NOUN
fsr-3796	274	3	.	.	PUNCT
fsr-3796	275	1	brueckner	brueckner	NOUN
fsr-3796	275	2	,	,	PUNCT
fsr-3796	275	3	jan	jan	PROPN
fsr-3796	275	4	k.	k.	PROPN
fsr-3796	275	5	,	,	PUNCT
fsr-3796	275	6	&	&	CCONJ
fsr-3796	275	7	follain	follain	PROPN
fsr-3796	275	8	,	,	PUNCT
fsr-3796	275	9	james	james	PROPN
fsr-3796	275	10	r.	r.	PROPN
fsr-3796	275	11	(	(	PUNCT
fsr-3796	275	12	1988	1988	NUM
fsr-3796	275	13	)	)	PUNCT
fsr-3796	275	14	.	.	PUNCT
fsr-3796	276	1	the	the	DET
fsr-3796	276	2	rise	rise	NOUN
fsr-3796	276	3	and	and	CCONJ
fsr-3796	276	4	fall	fall	NOUN
fsr-3796	276	5	of	of	ADP
fsr-3796	276	6	the	the	DET
fsr-3796	276	7	arm	arm	NOUN
fsr-3796	276	8	:	:	PUNCT
fsr-3796	276	9	an	an	DET
fsr-3796	276	10	econome	econome	NOUN
fsr-3796	276	11	~	~	PUNCT
fsr-3796	276	12	c	c	NOUN
fsr-3796	276	13	anal	anal	ADJ
fsr-3796	276	14	ysis	ysis	NOUN
fsr-3796	276	15	of	of	ADP
fsr-3796	276	16	mortgage	mortgage	NOUN
fsr-3796	276	17	choice	choice	NOUN
fsr-3796	276	18	.	.	PUNCT
fsr-3796	277	1	the	the	DET
fsr-3796	277	2	review	review	NOUN
fsr-3796	277	3	of	of	ADP
fsr-3796	277	4	economics	economic	NOUN
fsr-3796	277	5	and	and	CCONJ
fsr-3796	277	6	statistics	statistic	NOUN
fsr-3796	277	7	,	,	PUNCT
fsr-3796	277	8	io	io	PROPN
fsr-3796	277	9	,	,	PUNCT
fsr-3796	277	10	93	93	NUM
fsr-3796	277	11	-	-	SYM
fsr-3796	277	12	102	102	NUM
fsr-3796	277	13	.	.	PUNCT
fsr-3796	278	1	chan	chan	PROPN
fsr-3796	278	2	,	,	PUNCT
fsr-3796	278	3	k.c	k.c	PROPN
fsr-3796	278	4	.	.	PROPN
fsr-3796	278	5	,	,	PUNCT
fsr-3796	278	6	karolyi	karolyi	PROPN
fsr-3796	278	7	,	,	PUNCT
fsr-3796	278	8	g.	g.	PROPN
fsr-3796	278	9	andrew	andrew	PROPN
fsr-3796	278	10	,	,	PUNCT
fsr-3796	278	11	longstaff	longstaff	PROPN
fsr-3796	278	12	,	,	PUNCT
fsr-3796	278	13	francis	francis	PROPN
fsr-3796	278	14	a.	a.	PROPN
fsr-3796	278	15	,	,	PUNCT
fsr-3796	278	16	&	&	CCONJ
fsr-3796	278	17	sanders	sanders	PROPN
fsr-3796	278	18	,	,	PUNCT
fsr-3796	278	19	anthony	anthony	PROPN
fsr-3796	278	20	b.	b.	PROPN
fsr-3796	278	21	(	(	PUNCT
fsr-3796	278	22	1992	1992	NUM
fsr-3796	278	23	)	)	PUNCT
fsr-3796	278	24	.	.	PUNCT
fsr-3796	279	1	an	an	DET
fsr-3796	279	2	empiri	empiri	NOUN
fsr-3796	279	3	cal	cal	PROPN
fsr-3796	279	4	comparison	comparison	NOUN
fsr-3796	279	5	of	of	ADP
fsr-3796	279	6	alternative	alternative	ADJ
fsr-3796	279	7	models	model	NOUN
fsr-3796	279	8	of	of	ADP
fsr-3796	279	9	the	the	DET
fsr-3796	279	10	short	short	ADJ
fsr-3796	279	11	-	-	PUNCT
fsr-3796	279	12	term	term	NOUN
fsr-3796	279	13	interest	interest	NOUN
fsr-3796	279	14	rate	rate	NOUN
fsr-3796	279	15	.	.	PUNCT
fsr-3796	280	1	the	the	DET
fsr-3796	280	2	journal	journal	PROPN
fsr-3796	280	3	of	of	ADP
fsr-3796	280	4	finance	finance	NOUN
fsr-3796	280	5	,	,	PUNCT
fsr-3796	280	6	18,1209	18,1209	NUM
fsr-3796	280	7	-	-	SYM
fsr-3796	280	8	1227	1227	NUM
fsr-3796	280	9	.	.	PUNCT
fsr-3796	281	1	dhillon	dhillon	PROPN
fsr-3796	281	2	,	,	PUNCT
fsr-3796	281	3	upinder	upinder	PROPN
fsr-3796	281	4	s.	s.	PROPN
fsr-3796	281	5	,	,	PUNCT
fsr-3796	281	6	shilling	shilling	PROPN
fsr-3796	281	7	,	,	PUNCT
fsr-3796	281	8	james	james	PROPN
fsr-3796	281	9	d.	d.	PROPN
fsr-3796	281	10	,	,	PUNCT
fsr-3796	281	11	bi	bi	PROPN
fsr-3796	281	12	sirmans	sirman	NOUN
fsr-3796	281	13	,	,	PUNCT
fsr-3796	281	14	cf	cf	INTJ
fsr-3796	281	15	.	.	PUNCT
fsr-3796	281	16	(	(	PUNCT
fsr-3796	281	17	1987	1987	NUM
fsr-3796	281	18	)	)	PUNCT
fsr-3796	281	19	.	.	PUNCT
fsr-3796	282	1	choosing	choose	VERB
fsr-3796	282	2	between	between	ADP
fsr-3796	282	3	fixed	fix	VERB
fsr-3796	282	4	and	and	CCONJ
fsr-3796	282	5	adjustable	adjustable	ADJ
fsr-3796	282	6	rate	rate	NOUN
fsr-3796	282	7	mortgages	mortgage	NOUN
fsr-3796	282	8	.	.	PUNCT
fsr-3796	283	1	journal	journal	NOUN
fsr-3796	283	2	of	of	ADP
fsr-3796	283	3	money	money	NOUN
fsr-3796	283	4	,	,	PUNCT
fsr-3796	283	5	credit	credit	NOUN
fsr-3796	283	6	,	,	PUNCT
fsr-3796	283	7	and	and	CCONJ
fsr-3796	283	8	banking	banking	NOUN
fsr-3796	283	9	,	,	PUNCT
fsr-3796	283	10	19,260	19,260	NUM
fsr-3796	283	11	-	-	SYM
fsr-3796	283	12	267	267	NUM
fsr-3796	283	13	.	.	PUNCT
fsr-3796	284	1	excel	excel	VERB
fsr-3796	284	2	(	(	PUNCT
fsr-3796	284	3	computer	computer	NOUN
fsr-3796	284	4	software	software	NOUN
fsr-3796	284	5	)	)	PUNCT
fsr-3796	284	6	,	,	PUNCT
fsr-3796	284	7	version	version	NOUN
fsr-3796	284	8	7.0	7.0	NUM
fsr-3796	284	9	.	.	PUNCT
fsr-3796	284	10	(	(	PUNCT
fsr-3796	284	11	1995	1995	NUM
fsr-3796	284	12	)	)	PUNCT
fsr-3796	284	13	.	.	PUNCT
fsr-3796	285	1	microsoft	microsoft	PROPN
fsr-3796	285	2	corporation	corporation	PROPN
fsr-3796	285	3	.	.	PUNCT
fsr-3796	286	1	goldberg	goldberg	PROPN
fsr-3796	286	2	,	,	PUNCT
fsr-3796	286	3	lawrence	lawrence	PROPN
fsr-3796	286	4	g.	g.	PROPN
fsr-3796	286	5	,	,	PUNCT
fsr-3796	286	6	&	&	CCONJ
fsr-3796	286	7	heuson	heuson	PROPN
fsr-3796	286	8	,	,	PUNCT
fsr-3796	286	9	andrea	andrea	PROPN
fsr-3796	286	10	j.	j.	PROPN
fsr-3796	286	11	(	(	PUNCT
fsr-3796	286	12	1992	1992	NUM
fsr-3796	286	13	)	)	PUNCT
fsr-3796	286	14	.	.	PUNCT
fsr-3796	287	1	fixed	fix	VERB
fsr-3796	287	2	versus	versus	ADP
fsr-3796	287	3	variable	variable	ADJ
fsr-3796	287	4	rate	rate	NOUN
fsr-3796	287	5	financing	financing	NOUN
fsr-3796	287	6	:	:	PUNCT
fsr-3796	287	7	the	the	DET
fsr-3796	287	8	influence	influence	NOUN
fsr-3796	287	9	of	of	ADP
fsr-3796	287	10	borrower	borrower	NOUN
fsr-3796	287	11	,	,	PUNCT
fsr-3796	287	12	lender	lender	NOUN
fsr-3796	287	13	and	and	CCONJ
fsr-3796	287	14	market	market	NOUN
fsr-3796	287	15	characteristics	characteristic	NOUN
fsr-3796	287	16	.	.	PUNCT
fsr-3796	288	1	the	the	DET
fsr-3796	288	2	journal	journal	NOUN
fsr-3796	288	3	of	of	ADP
fsr-3796	288	4	financial	financial	ADJ
fsr-3796	288	5	services	service	NOUN
fsr-3796	288	6	research	research	NOUN
fsr-3796	288	7	,	,	PUNCT
fsr-3796	288	8	649	649	NUM
fsr-3796	288	9	-	-	SYM
fsr-3796	288	10	60	60	NUM
fsr-3796	288	11	.	.	PUNCT
fsr-3796	289	1	lino	lino	PROPN
fsr-3796	289	2	,	,	PUNCT
fsr-3796	289	3	mark	mark	NOUN
fsr-3796	289	4	.	.	PUNCT
fsr-3796	290	1	(	(	PUNCT
fsr-3796	290	2	1992	1992	NUM
fsr-3796	290	3	)	)	PUNCT
fsr-3796	290	4	.	.	PUNCT
fsr-3796	291	1	factors	factor	NOUN
fsr-3796	291	2	affecting	affect	VERB
fsr-3796	291	3	borrower	borrower	NOUN
fsr-3796	291	4	choice	choice	NOUN
fsr-3796	291	5	between	between	ADP
fsr-3796	291	6	fixed	fix	VERB
fsr-3796	291	7	and	and	CCONJ
fsr-3796	291	8	adjustable	adjustable	ADJ
fsr-3796	291	9	rate	rate	NOUN
fsr-3796	291	10	mortgages	mortgage	NOUN
fsr-3796	291	11	.	.	PUNCT
fsr-3796	292	1	the	the	DET
fsr-3796	292	2	journal	journal	NOUN
fsr-3796	292	3	of	of	ADP
fsr-3796	292	4	consumer	consumer	NOUN
fsr-3796	292	5	affairs	affair	NOUN
fsr-3796	292	6	,	,	PUNCT
fsr-3796	292	7	26,262	26,262	NUM
fsr-3796	292	8	-	-	SYM
fsr-3796	292	9	273	273	NUM
fsr-3796	292	10	.	.	PUNCT
fsr-3796	293	1	news	news	NOUN
fsr-3796	293	2	.	.	PUNCT
fsr-3796	294	1	various	various	ADJ
fsr-3796	294	2	issues	issue	NOUN
fsr-3796	294	3	1985	1985	NUM
fsr-3796	294	4	through	through	ADP
fsr-3796	294	5	1995	1995	NUM
fsr-3796	294	6	.	.	PUNCT
fsr-3796	295	1	washington	washington	PROPN
fsr-3796	295	2	,	,	PUNCT
fsr-3796	295	3	dc	dc	PROPN
fsr-3796	295	4	:	:	PUNCT
fsr-3796	295	5	federal	federal	PROPN
fsr-3796	295	6	housing	housing	PROPN
fsr-3796	295	7	finance	finance	PROPN
fsr-3796	295	8	board	board	NOUN
fsr-3796	295	9	.	.	PUNCT
fsr-3796	296	1	o’brien	o’brien	PROPN
fsr-3796	296	2	,	,	PUNCT
fsr-3796	296	3	a.	a.	NOUN
fsr-3796	296	4	,	,	PUNCT
fsr-3796	296	5	maureen	maureen	PROPN
fsr-3796	296	6	,	,	PUNCT
fsr-3796	296	7	&	&	CCONJ
fsr-3796	296	8	wong	wong	PROPN
fsr-3796	296	9	,	,	PUNCT
fsr-3796	296	10	shee	shee	NOUN
fsr-3796	296	11	q.	q.	PROPN
fsr-3796	296	12	(	(	PUNCT
fsr-3796	296	13	1990	1990	NUM
fsr-3796	296	14	)	)	PUNCT
fsr-3796	296	15	.	.	PUNCT
fsr-3796	297	1	the	the	DET
fsr-3796	297	2	choice	choice	NOUN
fsr-3796	297	3	between	between	ADP
fsr-3796	297	4	fixed	fix	VERB
fsr-3796	297	5	and	and	CCONJ
fsr-3796	297	6	variable	variable	ADJ
fsr-3796	297	7	rate	rate	NOUN
fsr-3796	297	8	mort	mort	PROPN
fsr-3796	297	9	gages	gage	NOUN
fsr-3796	297	10	:	:	PUNCT
fsr-3796	297	11	evidence	evidence	NOUN
fsr-3796	297	12	from	from	ADP
fsr-3796	297	13	national	national	ADJ
fsr-3796	297	14	data	datum	NOUN
fsr-3796	297	15	.	.	PUNCT
fsr-3796	298	1	ame	ame	PROPN
fsr-3796	299	1	~	~	X
fsr-3796	299	2	can	can	AUX
fsr-3796	299	3	3usiness	3usiness	NUM
fsr-3796	299	4	review	review	VERB
fsr-3796	299	5	,	,	PUNCT
fsr-3796	299	6	8,49	8,49	NUM
fsr-3796	299	7	-	-	SYM
fsr-3796	299	8	54	54	NUM
fsr-3796	299	9	.	.	PUNCT
fsr-3796	300	1	phillips	phillips	PROPN
fsr-3796	300	2	,	,	PUNCT
fsr-3796	300	3	richard	richard	PROPN
fsr-3796	300	4	a.	a.	PROPN
fsr-3796	300	5	,	,	PUNCT
fsr-3796	300	6	&	&	CCONJ
fsr-3796	300	7	vanderhoff	vanderhoff	PROPN
fsr-3796	300	8	,	,	PUNCT
fsr-3796	300	9	james	james	PROPN
fsr-3796	300	10	.	.	PUNCT
fsr-3796	301	1	(	(	PUNCT
fsr-3796	301	2	1991	1991	NUM
fsr-3796	301	3	)	)	PUNCT
fsr-3796	301	4	.	.	PUNCT
fsr-3796	302	1	adjustableversus	adjustableversus	PROPN
fsr-3796	302	2	fixed	fix	VERB
fsr-3796	302	3	-	-	PUNCT
fsr-3796	302	4	rate	rate	NOUN
fsr-3796	302	5	mortgage	mortgage	NOUN
fsr-3796	302	6	choice	choice	NOUN
fsr-3796	302	7	:	:	PUNCT
fsr-3796	302	8	the	the	DET
fsr-3796	302	9	role	role	NOUN
fsr-3796	302	10	of	of	ADP
fsr-3796	302	11	initial	initial	ADJ
fsr-3796	302	12	rate	rate	NOUN
fsr-3796	302	13	discounts	discount	NOUN
fsr-3796	302	14	.	.	PUNCT
fsr-3796	303	1	the	the	DET
fsr-3796	303	2	journal	journal	ADJ
fsr-3796	303	3	ofreal	ofreal	ADJ
fsr-3796	303	4	estate	estate	NOUN
fsr-3796	303	5	research	research	NOUN
fsr-3796	303	6	,	,	PUNCT
fsr-3796	303	7	639	639	NUM
fsr-3796	303	8	-	-	SYM
fsr-3796	303	9	51	51	NUM
fsr-3796	303	10	.	.	PUNCT
fsr-3796	303	11	sprecher	sprecher	PROPN
fsr-3796	303	12	,	,	PUNCT
fsr-3796	303	13	c.	c.	PROPN
fsr-3796	303	14	ronald	ronald	PROPN
fsr-3796	303	15	,	,	PUNCT
fsr-3796	303	16	&	&	CCONJ
fsr-3796	303	17	willman	willman	PROPN
fsr-3796	303	18	,	,	PUNCT
fsr-3796	303	19	elliott	elliott	PROPN
fsr-3796	303	20	s.	s.	PROPN
fsr-3796	303	21	(	(	PUNCT
fsr-3796	303	22	1993	1993	NUM
fsr-3796	303	23	)	)	PUNCT
fsr-3796	303	24	.	.	PUNCT
fsr-3796	304	1	arms	arm	NOUN
fsr-3796	304	2	versus	versus	ADP
fsr-3796	304	3	frms	frm	NOUN
fsr-3796	304	4	:	:	PUNCT
fsr-3796	304	5	which	which	PRON
fsr-3796	304	6	is	be	AUX
fsr-3796	304	7	better	well	ADJ
fsr-3796	304	8	?	?	PUNCT
fsr-3796	305	1	the	the	DET
fsr-3796	305	2	real	real	ADJ
fsr-3796	305	3	estate	estate	NOUN
fsr-3796	305	4	finance	finance	NOUN
fsr-3796	305	5	journal	journal	NOUN
fsr-3796	305	6	,	,	PUNCT
fsr-3796	305	7	8,78	8,78	PROPN
fsr-3796	305	8	-	-	SYM
fsr-3796	305	9	83	83	NUM
fsr-3796	305	10	.	.	PUNCT
fsr-3796	306	1	tucker	tucker	PROPN
fsr-3796	306	2	,	,	PUNCT
fsr-3796	306	3	michael	michael	PROPN
fsr-3796	306	4	.	.	PUNCT
fsr-3796	307	1	(	(	PUNCT
fsr-3796	307	2	1989	1989	NUM
fsr-3796	307	3	)	)	PUNCT
fsr-3796	307	4	.	.	PUNCT
fsr-3796	308	1	adjustable	adjustable	ADJ
fsr-3796	308	2	-	-	PUNCT
fsr-3796	308	3	rate	rate	NOUN
fsr-3796	308	4	and	and	CCONJ
fsr-3796	308	5	fixed	fix	VERB
fsr-3796	308	6	-	-	PUNCT
fsr-3796	308	7	rate	rate	NOUN
fsr-3796	308	8	mortgage	mortgage	NOUN
fsr-3796	308	9	choice	choice	NOUN
fsr-3796	308	10	:	:	PUNCT
fsr-3796	308	11	a	a	DET
fsr-3796	308	12	logit	logit	NOUN
fsr-3796	308	13	analysis	analysis	NOUN
fsr-3796	308	14	.	.	PUNCT
fsr-3796	309	1	the	the	DET
fsr-3796	309	2	journal	journal	NOUN
fsr-3796	309	3	of	of	ADP
fsr-3796	309	4	real	real	ADJ
fsr-3796	309	5	estate	estate	NOUN
fsr-3796	309	6	research	research	NOUN
fsr-3796	309	7	,	,	PUNCT
fsr-3796	309	8	4,81	4,81	NOUN
fsr-3796	309	9	-	-	SYM
fsr-3796	309	10	91	91	NUM
fsr-3796	309	11	.	.	PUNCT
fsr-3796	310	1	tucker	tucker	PROPN
fsr-3796	310	2	,	,	PUNCT
fsr-3796	310	3	michael	michael	PROPN
fsr-3796	310	4	.	.	PUNCT
fsr-3796	311	1	(	(	PUNCT
fsr-3796	311	2	1991	1991	NUM
fsr-3796	311	3	)	)	PUNCT
fsr-3796	311	4	.	.	PUNCT
fsr-3796	312	1	comparing	compare	VERB
fsr-3796	312	2	present	present	ADJ
fsr-3796	312	3	value	value	NOUN
fsr-3796	312	4	cost	cost	NOUN
fsr-3796	312	5	differentials	differential	NOUN
fsr-3796	312	6	between	between	ADP
fsr-3796	312	7	fixedand	fixedand	NOUN
fsr-3796	312	8	adjustable	adjustable	ADJ
fsr-3796	312	9	rate	rate	NOUN
fsr-3796	312	10	loans	loan	NOUN
fsr-3796	312	11	:	:	PUNCT
fsr-3796	312	12	a	a	DET
fsr-3796	312	13	mortgage	mortgage	NOUN
fsr-3796	312	14	simulation	simulation	NOUN
fsr-3796	312	15	.	.	PUNCT
fsr-3796	313	1	the	the	DET
fsr-3796	313	2	financial	financial	PROPN
fsr-3796	313	3	review	review	NOUN
fsr-3796	313	4	,	,	PUNCT
fsr-3796	313	5	26,447	26,447	NUM
fsr-3796	313	6	-	-	SYM
fsr-3796	313	7	458	458	NUM
fsr-3796	313	8	.	.	PUNCT
fsr-3796	314	1	u.s	u.s	PROPN
fsr-3796	314	2	.	.	PROPN
fsr-3796	314	3	bureau	bureau	PROPN
fsr-3796	314	4	of	of	ADP
fsr-3796	314	5	the	the	DET
fsr-3796	314	6	census	census	NOUN
fsr-3796	314	7	.	.	PUNCT
fsr-3796	315	1	(	(	PUNCT
fsr-3796	315	2	various	various	ADJ
fsr-3796	315	3	years	year	NOUN
fsr-3796	315	4	)	)	PUNCT
fsr-3796	315	5	.	.	PUNCT
fsr-3796	316	1	statistical	statistical	ADJ
fsr-3796	316	2	abstract	abstract	NOUN
fsr-3796	316	3	of	of	ADP
fsr-3796	316	4	the	the	DET
fsr-3796	316	5	united	united	PROPN
fsr-3796	316	6	states	states	PROPN
fsr-3796	316	7	.	.	PUNCT
fsr-3796	317	1	washington	washington	PROPN
fsr-3796	317	2	,	,	PUNCT
fsr-3796	317	3	dc	dc	PROPN
fsr-3796	317	4	.	.	PROPN
fsr-3796	317	5	yohannes	yohannes	PROPN
fsr-3796	317	6	,	,	PUNCT
fsr-3796	317	7	arefaine	arefaine	ADJ
fsr-3796	317	8	g.	g.	PROPN
fsr-3796	317	9	(	(	PUNCT
fsr-3796	317	10	1991	1991	NUM
fsr-3796	317	11	)	)	PUNCT
fsr-3796	317	12	.	.	PUNCT
fsr-3796	318	1	frm	frm	PROPN
fsr-3796	318	2	or	or	CCONJ
fsr-3796	318	3	arm	arm	NOUN
fsr-3796	318	4	:	:	PUNCT
fsr-3796	318	5	simplifying	simplify	VERB
fsr-3796	318	6	the	the	DET
fsr-3796	318	7	choice	choice	NOUN
fsr-3796	318	8	.	.	PUNCT
fsr-3796	319	1	the	the	DET
fsr-3796	319	2	reai	reai	PROPN
fsr-3796	319	3	estate	estate	PROPN
fsr-3796	319	4	appraiser	appraiser	NOUN
fsr-3796	319	5	,	,	PUNCT
fsr-3796	319	6	57,21	57,21	PROPN
fsr-3796	319	7	-	-	SYM
fsr-3796	319	8	24	24	NUM
fsr-3796	319	9	.	.	PUNCT