Pool Weighted Average Loan Age
Definition
Pool Weighted Average Loan Age. A dollar-weighted average measuring the age of the individual loans in a mortgage pass-through or pooled security, such as Ginnie Mae or a Freddie Mac security. The WALA is measured as the time in months since the origination of the loans, with the weighting based on each loan's size in proportion to the aggregate total of the pool.
Issues and Challenges
Adaptation taken from the instrument level figure. This definition looks as though it may already be defined with reference to the Loan Pool. Note also that this figure is specific to Pass Through securities. These are mutually exclusive with Tranched securities (static model update to come).
Disclaimer
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.
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