Loan Prepayment Terms Set

From Open Risk Manual
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Definition

Loan Prepayment Terms Set. Terms governing prepayments of the principal on a loan by the borrower.


Issues and Challenges

Terms so far 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 speed).

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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