SBA Prepay Commentary

April SBA Prepayment Speeds



April 2019

 

In total, Equipment and Real-Estate SBA 7(a) pools paid at faster speeds than in the prior month. CPRs for the Equipment pool population broadly increased from 14.5 to 18.8. Real-Estate speeds came in 1 CPR faster at 16.6 CPR after they were virtually flat last month. As has been the case lately, depending on the Real-Estate vintage, the story can vary. I don’t want to miss the forest for the trees though so I’ve also included a history of the rolling six-month average of Equipment and Real-Estate pools below. Even though it reversed this month, the overall trend since peaking last November has been a slowdown in CPRs for both Equipment and Real-Estate pools.

 

 

Equipment Loan Pools

 

 

Real-Estate Loan Pools

 

 

SBA Prepayment Tables (Click for Details)

Prepared according to methodologies described by SIFMA.





Kevin A. Smith, CFA

SVP, Director Investment Product Strategies

Vining Sparks

KSmith@viningsparks.com


Adam Hofer

Analyst, Investment Product Strategies

Vining Sparks

AHofer@viningsparks.com


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