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2. What is a prepayment penalty? - AOL

   www.aol.com/finance/prepayment-penalty-165152113...

   Key takeaways. A prepayment penalty is a fee designed to discourage borrowers from paying off a loan ahead of time. Refinancing your mortgage or selling your home could trigger this penalty.

3. Prepaying your mortgage: What is it and should I do it? - AOL

   www.aol.com/finance/prepaying-mortgage-152800578...

   A prepayment penalty is a fee that some lenders charge when you pay off your mortgage early. Typically, the prepayment penalty only applies to paying off your mortgage in full or making a ...

4. Prepayment of loan - Wikipedia

   en.wikipedia.org/wiki/Prepayment_of_loan

   Prepayment speeds can be expressed in SMM (single monthly mortality), CPR (conditional prepayment rate, which is the annually compounded SMM), or PSA (percentage of the Public Securities Association prepayment model). For mortgages at least 30 months old, 100% PSA = 6.0% CPR = 0.51% SMM, equivalent to the full prepayment of 6% of a pool's ...

5. Amortization schedule - Wikipedia

   en.wikipedia.org/wiki/Amortization_schedule

   This amortization schedule is based on the following assumptions: First, it should be known that rounding errors occur and, depending on how the lender accumulates these errors, the blended payment (principal plus interest) may vary slightly some months to keep these errors from accumulating; or, the accumulated errors are adjusted for at the end of each year or at the final loan payment.

6. Mortgage - Wikipedia

   en.wikipedia.org/wiki/Mortgage

   Prepayment: Some types of mortgages may limit or restrict prepayment of all or a portion of the loan, or require payment of a penalty to the lender for prepayment. The two basic types of amortized loans are the fixed rate mortgage (FRM) and adjustable-rate mortgage (ARM) (also known as a floating rate or variable rate mortgage). In some ...

7. PSA prepayment model - Wikipedia

   en.wikipedia.org/wiki/PSA_prepayment_model

   Each monthly prepayment is assumed to represent full payoff of individual loans, rather than a partial prepayment that leaves a loan with a reduced principal balance. Variations of the model are expressed in percent, e.g., "150% PSA" means a monthly increase of 0.3% in the annualized prepayment rate, until the peak of 9% is reached after 30 months.