Prepay Tables

Use Setup > Prepay Tables to specify and save sets of model-specific prepayment speeds.

The Prepay Tables page is a time-saving alternative to setting up manual prepayment speeds on the Prepayments panel of Chart of Accounts. When multiple accounts are associated with a single prepay table or category, you can make future modifications in one place.

View the appropriate page to add new or show existing tables:

  • Basic Tables - Use this option to show each table as a row in a grid. You can select the prepayment method to use and define the rate shock scenarios and speeds.
  • Mortgage Tables - Use this option to define multiple categories with unique coupon/age pairs. You can specify prepay speeds for these pairs.
  • Advanced Tables - Use this option for a flexible way to set up prepayment speeds for your accounts. Rate scenarios are defined for custom categories, which can contain up to 30 annual or 120 monthly time frames.

You can generate reports showing how your basic, mortgage, or advanced prepay tables and categories are set up by exporting the information to a file. You can also refer to the Chart Documentation report for the Prepayments panel to see which accounts are using prepay tables.

What If Models

Prepay tables are model-specific. When you select a What If model, the following behaviors occur based on the page you have opened:

  • On the Basic Tables page, the basic prepay tables appear in the grid.
  • On the Mortgage Tables page, the first mortgage category, if any exist, appears in the grid.
  • On the Advanced Tables page, the first advanced category, if any exist, appears in the grid.

Any new tables or categories that you create belong to the selected model. Also, when you create a new What If model, the prepay tables from the source model are copied to the new model so that both models have identical information for all shared months.

Prepay Months

For What If models with floating time frames, the default month on this page is always the application's current month. When the current month moves forward, as part of the monthly update process, existing prepay speeds are saved for the month that is now part of history and is automatically copied into the new month. If you change the date to a historical month, then you can view historical prepay speeds if they exist, but you cannot edit them.

If a What If model's starting month is changed to a fixed historical time frame, then the prepay month for the affected prepay tables change with it. When this change occurs, the application uses the rates (if any) from that historical starting month. For mortgage categories on the Mortgage Tables page, you must add new coupon/age pairs and scenarios.

  • Adding a Basic Prepay Table and Scenarios
    Use this information to add new basic prepay tables and scenarios.
  • Working with Basic Prepay Tables
    You can edit basic prepay tables. You can export the basic prepay tables setup information for a specific What If scenario to a CSV or a Microsoft® Excel® file. You can delete tables and scenarios.
  • Setting Up a Mortgage Category
    Use this information to create mortgage prepay categories. For each category, you can create unique coupon/age pairs with specific prepayment speed details.
  • Working with Mortgage Categories
    You can copy and rename mortgage categories. You can export the mortgage setup information for either the Active Tables or All Tables for a specific What If scenario to a CSV or a Microsoft® Excel® file. You can also delete a category, coupon/age pair, or scenario.
  • Setting Up an Advanced Prepay Category
    Use this information to create categories with multiyear or multimonth capabilities. You can enter up to 30 Annual or 120 Monthly sets of prepayment rate speeds for the rate shocks that you define.
  • Working with Advanced Prepay Categories
    You can copy and modify advanced categories. You can export the setup information for either the Active Table or All Tables for a specific What If scenario to a CSV or a Microsoft® Excel® file. You can also delete a category or scenario.
  • Importing Rates for Prepay Tables
    Use this information to import rates for basic, mortgage, and advanced prepay tables.
  • Prepayment Methods
    Prepayment methods determine how prepayments are calculated.
Parent topic: Setup