CY Current Year Financial Glossary

What is it? Definition Like LTM often used when referring to financial statistics.

Finance Term Definition Added By: Gavin

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Other Similar Finance Terms:

Financial Term weightedaverage coupon (WAC) is The average interest rate charged to mortgage loan borrowers in an MBS pool weighted by the size of each loan. Individual loans in an MBS pool will not usually have the same rates of interest. For example, FNMA pools may have mortgages with up to 250 basis points spread between the highest-rate and the lowest-rate loans in the pool. Investors must remember that the WAC may change over time as some loans in the pool repay faster than others. Since loan by loan information is not available, investors must rely on the original WAC throughout the life of the pool.

Financial Term RESPA (Real Estate Settlement Procedures Act) is A federal statute effective June 20, 1975, requiring disclosure of certain costs in the sale of residential (one to four family) improved property which is to be financed by a federally insured lender.

Financial Term IMS is Intelligent Manufacturing Systems Initiative

Financial Term Negotiated Underwriting/Deal is A means by which firms choose the underwriter for a new security issue. See competitive bidding.

Financial Term Doctoral student is Within a Network of Excellence, doctoral students mean students who are enrolled on a recognised course of doctoral studies run by one of the contractors and who do not meet the conditions to be considered as a researcher.