Pricing Prepayment Speed definition
Pricing Prepayment Speed o Fixed Rate Mortgage Loans: CPR starting at approximately 1.5333% CPR in month 1 and increasing to 23% CPR in month 15 (23%/15 CPR increase for each month), and remaining at 23% CPR thereafter.
Pricing Prepayment Speed. FIXED RATE CERTIFICATES: The Fixed Rate Certificates assume 110% PPC which equates to a ramped CPR starting at 4% CPR in the first month increasing to 20% CPR over 12 months, and remaining at 20% CPR thereafter on a seasoning adjusted basis - ARM CERTIFICATES: The ARM Certificates assume 100% PPC which equates to a ramped CPR starting at 4% CPR in the first month increasing to 35% CPR over 22 months, and remaining at 35% CPR thereafter on a seasoning adjusted basis CREDIT ENHANCEMENT: Each of the Fixed Rate Certificates and ARM Certificates are credit enhanced by excess spread from the mortgage loans, cross-collateralization of the cash flows of the three groups of mortgage loans, overcollateralization and a certificate insurance policy from Financial Security Assurance Inc.
Pricing Prepayment Speed. The Offered Certificates will be priced to a prepayment speed of 275% PSA.
Examples of Pricing Prepayment Speed in a sentence
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-3 -------------------------------------------------------------------------------- Group II Computational Materials Pricing Prepayment Speed: Fixed Rate Collateral 130% of the prepayment assumption (the "FRM PPC") will be applied to the Fixed Rate Collateral for pricing purposes.
More Definitions of Pricing Prepayment Speed
Pricing Prepayment Speed o Fixed Rate Mortgage Loans: CPR starting at approximately 1.5333% CPR in month 1 and increasing to 23% CPR in month 15 (23%/15 increase for each month), and remaining at 23% CPR thereafter o ARM Mortgage Loans: 25% CPR Credit Enhancement: The Offered Certificates are credit enhanced by: 1) Net monthly excess cashflow from the Mortgage Loans, 2) 1.00% overcollateralization (funded upfront). On and after the Step-down Date, so long as a Trigger Event is not in effect, the required overcollateralization will equal 2.00% of the aggregate principal balance of the Mortgage Loans as of the last day of the applicable Due Period, subject to a 0.50% floor, based on the aggregate principal balance of the Mortgage Loans as of the cut-off date, provided, however, that if, on any distribution date, a Delinquency Trigger Event exists, the required overcollateralization will not be reduced to the applicable percentage of the then Stated Principal Balance of the mortgage loans but instead remain the same as the prior period's required overcollateralization until the distribution date on which a Delinquency Trigger Event no longer exists; provided, further, that if, on any distribution date, a Cumulative Loss Trigger Event exists, the required overcollateralization will be an amount equal to 1.25% of the aggregate Stated Principal Balance of the mortgage loans as of the cut-off date until the distribution date on which a Cumulative Loss Trigger Event no longer exists, and 3) Subordination of distributions on the more subordinate classes of certificates (if applicable) to the required distributions on the more senior classes of certificates. Senior Enhancement Percentage: For any Distribution Date, the percentage obtained by dividing (x) the aggregate Certificate Principal Balance of the subordinate certificates (together with any overcollateralization and taking into account the distributions of the Principal Distribution Amount for such Distribution Date) by (y) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period.
Pricing Prepayment Speed o Fixed Rate Mor▇▇▇▇▇ L▇▇▇s: CPR starting at approximately 4% CPR in month 1 and increasing to 23% CPR in month 16 (19%/15 increase for each month), and remaining at 23% CPR thereafter o ARM Mortgage Loans: 28% CPR Credit Enhancement: The Offered Certificates are credit enhanced by: 1) Net monthly excess cashflow from the Mortgage Loans, 2) 3.00% overcollateralization (funded upfront). On and after the Step-down Date, so long as a Trigger Event is not in effect, the required overcollateralization will equal 6.00% of the aggregate principal balance of the Mortgage Loans as of the last day of the applicable Due Period, subject to a 0.50% floor, based on the aggregate principal balance of the Mortgage Loans as of the cut-off date, and 3) Subordination of distributions on the more subordinate classes of certificates (if applicable) to the required distributions on the more senior classes of certificates.
Pricing Prepayment Speed. 130% of the prepayment assumption (the "FRM PPC") will be applied to the Fixed Rate Collateral for pricing purposes. 130% PPC for the Fixed Rate Collateral describes prepayments starting at 5.2% CPR in month 1, increasing by 1.8909% CPR per month to 26% CPR in month 12, and remaining at 26% CPR thereafter. Statistical Calculation Close of Business August 24, 1998. Date: Cut-Off Date: Close of Business September 15, 1998. Expected Pricing Date: September 17, 1998. Expected Settlement: September 25, 1998 through DTC, Euroclear or CEDEL.
Pricing Prepayment Speed. Fixed rate Mortgage Loans: 115% of PPC (100% PPC is equal to 4% - 20% CPR over 12 months) Adjustable rate Mortgage Loans: 27% CPR
Pricing Prepayment Speed. The Offered Certificates will be priced based on 100% PPC, which assumes 10% CPR in month 1, an additional 1/11th of 15% CPR for each month thereafter, building to 25% CPR in month 12 and remaining constant at 25% CPR thereafter, adjusted for any seasoning.