Adjustable Rate PPC definition
Adjustable Rate PPC. 100% Adjustable-Rate PPC means a CPR of 4.00% per annum of the then unpaid principal balance of the Adjustable Rate Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 2.1818% (precisely 24%/11 expressed as a percentage) per annum in each month thereafter until the 12th month, remaining at 28% per annum in each month thereafter until the 24th month, then beginning in the 25th month, remaining at 55% per annum in each month thereafter until the 28th month and in each month thereafter during the life of such Mortgage Loans, a CPR of 35% per annum.
Adjustable Rate PPC. A CPR of 4.00% per annum of the then unpaid principal balance of such Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 1.3478% (precisely 31/23%) per annum in each month thereafter until the 24th month. Beginning in the 24th month and in each month thereafter during the life of such Mortgage Loans, a CPR of 35%.
Adjustable Rate PPC. A CPR of 6.00% per annum of the then unpaid principal balance of such Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 2.3636% (precisely 26%/11) per annum in each month thereafter until the 12th month. Beginning in the 12th month and in each month thereafter until the 24th month, a CPR of 32%. Beginning in the 25th month and in each month thereafter until the 28th month, a CPR of 50% decreasing approximately 2.50% (precisely 15%/6) per annum in each month thereafter until the 34th month. Beginning in the 34th month and in each month thereafter during the life of such Mortgage Loans, a CPR of 35%; provided, however, that the prepayment rate will not exceed 85% CPR in any period for any given percentage of the Adjustable Rate Prepayment Vector.
More Definitions of Adjustable Rate PPC
Adjustable Rate PPC. 100% Adjustable-Rate PPC means a CPR of [__]% per annum of the then unpaid principal balance of the Adjustable Rate Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately [__]% (precisely [__]%/11 expressed as a percentage) per annum in each month thereafter until the 12th month, remaining at [__]% per annum in each month thereafter until the 24th month, then beginning in the 25th month, remaining at [__]% per annum in each month thereafter until the 28th month and in each month thereafter during the life of such Mortgage Loans, a CPR of [__]% per annum.
Adjustable Rate PPC. With respect to any Adjustable Rate Mortgage Loan, for which the Mortgage Rate is fixed for six-months, one year or two years after the origination of such Mortgage Loan and thereafter adjusts semi-annually based upon the related Index, 100% Adjustable-Rate PPC means a CPR of 6.00% per annum of the then unpaid principal balance of such Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 2.3636% (precisely 26%/11 expressed as a percentage) per annum in each month thereafter until the 12th month, remaining at a CPR of 32% per annum in each month thereafter until the 24th month, then beginning in the 25th month, remaining at a CPR of 60% per annum in each month thereafter until the 28th month, then beginning in the 29th month, decreasing by approximately 2.3333% (precisely 28%/12 expressed as a percentage) per annum to a CPR of 32% per annum in the 40th month, and in each month thereafter during the life of such Mortgage Loans, a CPR of 32% per annum. With respect to any Adjustable Rate Mortgage Loan, for which the Mortgage Rate is fixed for three or five years after the origination of such Mortgage Loan and thereafter adjusts semi-annually based upon the related Index, 100% Adjustable-Rate PPC means a CPR of 6.00% per annum of the then unpaid principal balance of such Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 2.3636% (precisely 26%/11 expressed as a percentage) per annum in each month thereafter until the 12th month, remaining at a CPR of 32% per annum in each month thereafter until the 36th month, then beginning in the 37th month, remaining at a CPR of 60% per annum in each month thereafter until the 40th month, then beginning in the 41st month, decreasing by approximately 2.3333% (precisely 28%/12 expressed as a percentage) per annum to a CPR of 32% per annum in the 52nd month, and in each month thereafter during the life of such Mortgage Loans, a CPR of 32% per annum.