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What is ABSNet Glossary of Key Terms about?
This document defines terms used in asset-backed securities (ABS). Some key terms summarized are: - 30/360 - A method used to calculate accrued interest that assumes every month has 30 days and the year has 360 days. - Delinquency rates - Metrics that indicate the percentage of loans in a pool that are late on payments, such as 30-day delinquent and 60+ day delinquent rates. - Advances - Funds the servicer provides to cover shortfalls from borrower delinquencies or prepayments, which the servicer is la
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