The extent to which the Weighted Average Coupon on the assets underlying an asset-backed security exceeds the coupon rate of that security plus any relevant fees (i.e. servicing, administration, trustee, etc...). Since multiple securities can be issued from the same trust, this measure is security specific.
- Browse Related Terms: 30 Days Delinquent, 60 Days Delinquent, Bankrupt, Default Rate, Excess Spread, 90 Days Delinquent, Underlying Security (-ies), Prepayment Speed, Underlying Loans