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Using the example, the IO is created by taking 1% of coupon off the 6% original coupon gives an IO of 1% coupon off $100mm notional principal, but this is by convention 'normalized' to a 6% coupon (as the collateral was originally 6% coupon) by reducing the notional principal to $16.666667mm ($100mm / 6).
About 4.70% of families and 7.40% of the population were below the poverty line, including 9.2% of those under age 18 and 7.1% of those age 65 or over. Prince George's County is the 70th most affluent county in the United States by median income for families and the most affluent county in the United States with an African-American majority.
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