Rate and PSA, which stands for Public Securities Association. Th ncipal that is assumed to be paid off ahead of time each year. CPR is expressed as an annual percentage and measures prepayment as a percentage of the current outstanding principal balance. For example, 12% CPR means that 12% of the outstanding principal balance is p

PSA prepayment benchmark 提前还款的基准 是 Public Security Association（PSA）所公布的一个模型，认为刚刚发放的新贷款，提前还款速率比较低，然后随着时间推移逐步上升。 这只是 PSA公布的一个模型，与实务差距可能较大。 这个基准被称为 100 PSA。

Typically we like to see speeds specified as either CPR (conditional prepayment rate) or PSA (Public Securities Association). If you capture prepayment data for your various loan portfolios using SMM (single monthly mortality) you can use the conversion tool shown at the right to convert the speed to PSA or CPR.

条件早偿率（the Conditional Prepayment Rate，CPR）是用来计算早偿率最常用的指标，是以年利率形式或复利形式表示的SMM。 1.计算公式. CPR 是在现有的抵押贷款池中，在一年内提前偿还的年化的百分比。 这一比率是以年为单位的：

2023年9月16日 · 公共证券协会标准提前还款模型是用于计算和管理特定于 抵押贷款支持证券 (MBS) 和 抵押 抵押债务 (CMO)的提前 还款风险的几种模型之一。 了解 PSA 公共证券协会标准提前还款模型 (PSA) 承认，提前还款假设将在债务期限内发生变化，并可能影响证券的收益率。

Prepayment Rate Conversion Table SMM – Single Monthly Mortality (monthly prepayment rate in percent) CPR – Conditional Prepayment Rate (annual prepayment rate in percent) PSA – Standard Prepayment Model of The Bond Market Association (percentage of PSA [Prepayment Speed Assumption] model: 100% = 6% CPR)

2016年1月7日 · 提前偿付率是指对抵押贷款转手证券标的资产池在存续期内的提前偿付金额占本金余额的比率，这是一个估计值，有时也被称为资产池的提前偿付速度（Prepayment Speed），可以用于衡量抵押贷款转手证券标的资产池的提前偿付情形。 要科学界定资产池的提前偿付率，必须首先了解影响提前偿付率的主要因素：

2025年2月13日 · A conditional prepayment rate (CPR) is an estimate of the percentage of a loan pool's principal that is likely to be paid off prematurely. The estimate is...

2016年1月7日 · 提前償付率是指對抵押貸款轉手證券標的資產池在存續期內的提前償付金額占本金餘額的比率，這是一個估計值，有時也被稱為資產池的提前償付速度（Prepayment Speed），可以用於衡量抵押貸款轉手證券標的資產池的提前償付情形。 要科學界定資產池的提前償付率，必須首先瞭解影響提前償付率的主要因素：

2018年12月14日 · PSA is a prepayment benchmark based on CPR (Conditional Prepayment Rate). It is used as a measure of relative prepayment speeds. 100% PSA equals a starting rate of .2% each month for 30 months, at which point prepayments level off and stay constant at 6% CPR for the remainder of the life of the mortgage.