A conditional prepayment rate (CPR) estimates the likely rate of prepayment for a pool of loans, such as a mortgage-backed security or a callable bond. The higher the CPR, the more prepayments are expected and the less interest the investor is likely to receive overall. Sponsored Trade on t...
While certainly not as dire as default risk, another risk bond investors face is prepayment risk. This occurs when the bond issuer (or the borrower in the case of mortgage-backed securities) pays back the principal earlier than scheduled. These prepayments will reduce the average life of the ...
Annualized Premium means the due premium contribution as calculated and applicable for a Policy Year. Annualized Premium excludes extra premium, if any Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, pay...
Prepayment Charge ScheduleA data field in the Mortgage Loan Schedule attached hereto as Exhibit A which sets forth the amount or method of calculation of the Prepayment Charge and the term during which such Prepayment Charge is imposed with respect to a Mortgage Loan....
This paper studies the interaction between default and liquidity for corporate bonds that are traded in an over-the-counter secondary market with search fr... None - 《Econometrica》 被引量: 316发表: 2014年 Mortgage Prepayment And Default Behaviorwith Embedded Forward Contract Risks In China'shous...
Prepayment is one of the biggest risks that MBS holders face. Borrowers tend to refinance when interest rates fall and the cost to borrow money is cheaper. This is undesirable for investors. Aside from not collecting all the income they expected to receive, it also means thatcapitalis returned...
for the Borrower and its Restricted Subsidiaries on a consolidated basis, that portion of Consolidated Interest Charges that is either paid or required to be paid in cash during such period, but excluding prepayment or similar premiums paid in connection with any prepayment, repurchase or redemption...
Principal Prepayments with respect to any Mortgage Loan are deemed to be received on the date they are applied in accordance with Section 3.01(b) of this Agreement to reduce the outstanding principal balance of such Mortgage Loan on which interest accrues. (d) For purposes of calculating distrib...