Bulk Test Pack

Anything of value. Any interest in real or personal property which can beappropriated for the payment of debt.

See “Z-tranche.

Interest deemed to be earned on a security but not yet paid to the investor.

A CMO tranche that is currently paying principal payments to investors.

Liquidation of a debt through installment payments.

On a mortgage security, the average time to receipt of each dollar of principal, weighted by the amount of each principal prepayment, based on prepayment assumptions.