Base Offering Circular Multifamily
90
Weighted Average Coupon
Rate ...........................................
For any Trust REMIC and any Distribution Date, the per annum
rate of interest equal to the average, expressed as a percentage,
of the interest rates on some or all of the Trust REMICs
qualified mortgages(as that term is defined in the REMIC
Provisions), weighted on the basis of respective current principal
balances of such qualified mortgages after giving effect to all
payments of principal in the month preceding the Distribution
Date. Such average interest rate may be subject to certain
additions, subtractions, multipliers, caps, floors, and governors,
as permitted under the REMIC Provisions.
Weighted Average Life............. With respect to any Class, the average amount of time (in years)
that will elapse from the date of its issuance until each dollar of
principal has been repaid to the investor, determined by (a)
multiplying the amount of the net reduction, if any, of the Class
Principal Balance (or Class Notional Balance) of such Class
from one Distribution Date to the next Distribution Date by the
number of years from the Closing Date to such next Distribution
Date, (b) summing the results and (c) dividing the sum by the
aggregate amount of the net reductions of the Class Principal
Balance (or Class Notional Balance) of such Class referred to in
clause (a).
Weighted Average Loan Age.... With respect to a Series (or, if the Trust MBS are segregated into
Trust Asset Groups, the Trust MBS in a designated Trust Asset
Group), and for any Distribution Date, the weighted average
loan age (in months) of the Mortgage Loans underlying the Trust
MBS, weighted on the basis of the respective current principal
balances of those Mortgage Loans immediately following the
applicable Ginnie Mae Certificate Payment Date in the month
preceding the month of that Distribution Date.
Weighted Average Mortgage
Interest Rate ..............................
With respect to designated Ginnie Mae Multifamily Certificates
and a Cut-off Date, the per annum rate of interest equal to the
average, expressed as a percentage of the Mortgage Rates of all
the Mortgage Loans underlying the Ginnie Mae Multifamily
Certificates, weighted on the basis of the respective current
principal balances of those Mortgage Loans after giving effect to
all payments of principal due on or before the Cut-off Date.
Weighted Average Original
Term to Maturity.......................
With respect to designated Ginnie Mae Multifamily Certificates
and a Cut-off Date, the average, expressed in months, of the
original terms to maturity of all the Mortgage Loans underlying
the Ginnie Mae Multifamily Certificates, weighted on the basis
of the respective current principal balances of those Mortgage
Loans after giving effect to all payments of principal due on or
before the Cut-off Date.