Prepay Commentary

November SBA Prepayment Speeds

November 15, 2018


Overall, Equipment SBA 7(a) pools posted faster speeds this month than for October and September while Real-Estate pools posted overall faster than October but fell back in line with September speeds. In either case, both printed higher speeds than their respective 6 and 12-month moving averages. There were 3 extra business days in October than September (22 vs 19) so perhaps this explains part of the increase. Both November and December have 20 business days so it will be interesting to see if speeds continue to increase or fall back in line with September. Please note that the linked tables now include 12 month moving averages as there are now fourteen months of available history subsequent to the principal distribution related procedural changes implemented last October.


SBA Prepayment Tables (Click for Details)

Prepared according to methodologies described by SIFMA.


Kevin Smith, CFA

SVP, Director Investment Product Strategies

Vining Sparks

Adam Hofer

Analyst, Investment Product Strategies

ViningĀ Sparks

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