Prepayment Pre*pay"ment, n. Payment in advance. [1913 Webster]

The Collaborative International Dictionary of English. 2000.

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  • Prepayment — is early repayment of a loan by a borrower. In the case of a mortgage backed security (MBS), prepayment is perceived as a risk, because mortgage debts are often paid off early in order to incur lower total interest payments through cheaper… …   Wikipedia

  • prepayment — USA In the case of a loan, it is a whole or partial repayment of the loan before the maturity date set out in the loan agreement. Loan agreements typically include optional prepayment provisions (where the borrower may voluntarily make a loan… …   Law dictionary

  • prepayment — or prepayments (1) noun A term used to describe loan or bond principal payments that are made in excess of the scheduled principal payments and before maturity. Any amount paid to reduce the principal before the due date or in excess of the… …   Financial and business terms

  • prepayment — Payment of debt obligation or expense before it is due @ prepayment clause Provision in mortgage or note giving borrower right to pay off the indebtedness before it becomes due. See also prepayment penalty @ prepayment penalty A penalty under a… …   Black's law dictionary

  • prepayment — UK [priːˈpeɪmənt] / US [prɪˈpeɪmənt] noun [countable/uncountable] Word forms prepayment : singular prepayment plural prepayments money that you pay before you can use a service …   English dictionary

  • Prepayment — 1. The payment of a debt obligation prior to its due date. 2. The excess payment over a scheduled debt repayment amount. 1. Examples include deferred expenses such as rent and early loan repayments. 2. Mortgage pass through securities are prone… …   Investment dictionary

  • prepayment — /pri: peɪmənt/ noun a payment in advance ♦ to ask for prepayment of a fee to ask for the fee to be paid before the work is done …   Marketing dictionary in english

  • prepayment — /pri: peɪmənt/ noun 1. a payment in advance, or the act of paying in advance ♦ to ask for prepayment of a fee to ask for the fee to be paid before the work is done 2. US the repayment of the principal of a loan before it is due …   Dictionary of banking and finance

  • prepayment — prepay ► VERB (past and past part. prepaid) ▪ pay for in advance. DERIVATIVES prepayment noun …   English terms dictionary

  • prepayment penalty — A fee imposed on a borrower who pays off a loan (usually a mortgage) before its due date. Lenders impose this kind of fee to encourage borrowers to hold a debt and keep paying interest on it for the whole term of the loan. Category: Bankruptcy,… …   Law dictionary

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