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Prepayment fee |
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Prepayment feeIn the US, a fee charged to a borrower by a lender when a loan or mortgage is repaid ahead of schedule. In the UK, building societies impose a similar charge, typically binding the borrower to at least three years of repayments if such a charge is to be avoided.Similar MatchesZero prepayment assumptionZero prepayment assumptionThe assumption of payment of scheduled principal and interest with no payments. PrepaymentsPrepaymentsPayments made in excess of scheduled mortgage principal repayments. FHA prepayment experienceFHA prepayment experienceThe percentage of loans in a pool of mortgages outstanding at the origination anniversary, based on annual statistical historic survival rates for FHA-insured mortgages. Prepayment penaltyPrepayment penaltyA fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. Prepayment penaltyPrepayment penaltyLenders can impose a penalty on a borrower who pays a loan off before its expected end date. Further SuggestionsLag response of prepaymentsPrepayment speed |
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