All of these TLAs (Three-Letter Abbreviations) refer to measurements of the amount of prepayment on a mortgage-backed security (MBS, yet another TLA): CPR abbreviates Conditional Prepayment Rate, an annual measure of the prepayments on an MBS SMM abbreviates Single-Month Mortality, a monthly (duh!) measure of the prepayments on an MBS PSA abbreviates Public Securities Association, […]
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