Definition of "prepayment" [pre•pay•ment]

• A payment in advance. (noun)

Wiktionary.org : Text is available under the Creative Commons Attribution-ShareAlike License

• "I never worked in this area but prepayment is one of the factors that goes into the value of a mortgage security -- a pool with many prepayments will have a different value than an identical pool with a different prepayment record."
• "The Center for Responsible Lending analyzed the Rose study and concluded that it was likely of little value due to the small number of loans and limited geographic area reviewed , omission of key variables such as housing prices and unemployment rates and limit of study to rare long term prepayment penalty features."
• "Two of them having inspected our loads and having received the required number of khatas in prepayment for their services, returned next morning with an insufficient number of camels, and one of those they did bring could not carry a heavy load."