Absolute Prepayment Rate Formula
From Open Risk Manual
Definition
Absolute Prepayment Rate Formula (ABS) is defined by the following formula:
where SMM refers to Single Month Mortality, which measures the percentage of funds prepaid in a given month expressed as a percentage of the scheduled loan balance.
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This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
Facts about "Absolute Prepayment Rate Formula"
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