Loan Ongoing Prepayment Terms

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Definition

Loan Ongoing Prepayment Terms. Terms governing prepayments of the principal on a loan by the borrower throughout the life of the loan.


Issues and Challenges

Comment: Determine whether this is mortgage-specific or applicable to all types of loan. Some definitions are mortgage specific but there must in principle be terms governing early payments on other types of loan. This also governs an important collective metric in loan pools (Loan prepayment speed) which would suggest these are terms applicable to other loan types.

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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