Adjustable Rate Prepayment Vector definition
Adjustable Rate Prepayment Vector. A CPR of 2.00% 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 2.36363% (precisely 26%/11) per annum in each month thereafter until the 12th month. Beginning in the 12th month and in each month thereafter until and including the 23rd month, such prepayment vector assumes a CPR of 28% per annum. Beginning in the 24th month and in each month thereafter until and including the 27th month, such prepayment vector assumes a CPR of 60% per annum. Beginning in the 28th month and in each month thereafter during the life of such Mortgage Loans, such prepayment vector assumes a CPR of 35% per annum; provided, however, that the prepayment rate will not exceed 85% CPR in any period for any given percentage of the Adjustable Rate Prepayment Vector.
Adjustable Rate Prepayment Vector. A CPR of 2.00% 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 2.545% (precisely 28%/11) per annum in each month thereafter until the 12th month. Beginning in the 12th month and in each month thereafter until the 22nd month, a CPR of 30%. Beginning in the 23rd month and in each month thereafter until the 27th month, a CPR of 50%. Beginning in the 28th 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.