Fixed Rate Prepayment Vector definition
Fixed Rate Prepayment Vector. A CPR of 2.00% per annum of the then unpaid principal balance of such Mortgage Loans in the first month of the life of such Mortgage Loans and an additional 2.00% per annum in each month thereafter until the 10th month. Beginning in the 11th month and in each month thereafter during the life of such Mortgage Loans, such prepayment vector assumes a CPR of 20% per annum.